20211012 Premarket Prep DAX

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DAX. This prep builds off of my week­ly trade plan I made here:

DAX 2021 Week 41 Trad­ing Plan

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The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing below last week’s body but with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 con­tin­ued to close low­er slight­ly with­in D1 demand and D1 QLo
  • H4 Three Out­side Down giv­ing H4-C‑S 15162.83 at H4 QHi with price cur­rent­ly trad­ing mid-swing
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: MIXED Trend
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• Dai­ly Range
  • ADR: 19597
  • ASR: 15794
    • 3949
  • ASR Short:14406
    • 3602
  • Day
    • Yes­ter­day’s High 15240.50
    • Yes­ter­day’s Low 15084.10

Sen­ti­ment

• LN open
  • Below Val­ue, Out­side Range
• Open dis­tance to value
  • 0.57xASR
• Nar­ra­tive
  • Mod­er­ate to Large Imbal­ance. Mixed Trend although with larg­er time­frame bear­ish sen­ti­ment. H4 trad­ed down dur­ing Asia with cur­rent­ly some reac­tion off old H4 demand. Price is trad­ing with­in D1 demand. IBR tra­versed 0.64xASR could indi­cate respon­sive activ­i­ty. Price trad­ed high­er dur­ing IB towards val­ue edge. LTF sup­ply at VAL, H4 sup­ply at VAH.
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Failed Auc­tion Short.
• Hypo 2
  • Weak­ness From With­in IBR
• Hypo 3
  • Strength From With­in IBR
• Hypo 4
  • Val­ue Acceptance

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 15162.83

ZOIs for Pos­si­ble Long

• D1-C‑D 15126.29
• H4-C‑D 15024.78 (OLD)

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
• Week­ly Goal
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or 2R target
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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