20211013 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 is trad­ing with­in last week’s body

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Bull­ish Inside bar with longer buy­ing wick clos­ing above D1 demand
  • H4 con­sol­i­da­tion with a pos­si­ble RBR dur­ing Asia
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: MIXED Trend
• Mar­ket Profile
  • 2‑day over­lap­ping values.
• Dai­ly Range
  • ADR: 18122
  • ASR: 15401
    • 3531
  • ASR Short:14406
    • 3602
  • Day
    • Yes­ter­day’s High 15180.30 at VAH
    • Yes­ter­day’s Low  15008.00

Sen­ti­ment

• LN open
  • With­in Value
• Open dis­tance to value
  • N.A. 
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. IB tra­versed high­er 0.62xASR clos­ing above val­ue. C extend­ed and took out sup­ply. Mixed trend but there could be a turn­ing point in sen­ti­ment com­ing if the move is sustained. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Sus­tained Auc­tion Up, val­ue rejection
• Hypo 2
  • Failed Auc­tion Short
• Hypo 3
  • Auc­tion Fade Short 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15207.29

ZOIs for Pos­si­ble Long

• D1-C‑D 15126.29

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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