20211019 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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 42 Trad­ing Plan

See more

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

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing with­in last week’s body with a slight pull­back to W1 demand

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Three Out­side Down with price trad­ing with­in its body
  • H4 con­sol­i­da­tion and Break high­er trad­ing with­in H4 QHi
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: Mixed Trend
• Mar­ket Profile
  • 2 over­lap­ping val­ues indi­cat­ing slow­down in price
• Dai­ly Range
  • ADR: 16366
  • ASR: 13705
    • 3426
  • ASR Short: 11959
    • 2990
  • Day
    • Yes­ter­day’s High 15597.10
    • Yes­ter­day’s Low 15415.70

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. Price formed a D1 Three Out­side Down (reject­ing D1 QHi) at new MN C‑sup pos­si­bil­i­ty for a con­tin­u­a­tion down. IBR tra­versed 0.45xASR down clos­ing below VAL but no exten­sion yet. Exten­sion down is met with new­ly formed H4 demand. ADR 0.5 below yes­ter­day ses­sion low near­by ASR and ADR exhaustion.
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Failed Auc­tion Long
• Hypo 2
  • Sus­tained Auc­tion Down, val­ue rejec­tion, late-sus­tained auc­tion entry preferred
• Hypo 3
  • Failed Auc­tion Short
• Hypo 4
  • Sus­tained Auc­tion Long, val­ue rejec­tion,  late-sus­tained auc­tion entry preferred
• Hypo 5
  • Auc­tion Fade Long, vari­a­tion to hypo 2 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15588.27

ZOIs for Pos­si­ble Long

• W1-C‑D 15290.73

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay, but might be dis­tract­ed with per­son­al life

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

• Twit­ter
• Insta­gram