20211020 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 42 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 with­in last week’s body above W1 demand at W1 sup­ply base level

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Three Out­side Down with no con­tin­u­a­tion (yet). Instead yes­ter­day formed an Inside Bar below D1 QHi.
  • H4 con­sol­i­da­tion with­in H4 QHi above H4-C‑D 15481.93 (with­in value)
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: MIXED Trend
• Mar­ket Profile
  • 3‑day brack­et
• Dai­ly Range
  • ADR: 15328
  • ASR: 13205
    • 3301
  • ASR Short: 11459
    • 2864
  • Day
    • Yes­ter­day’s High 15529.00
    • Yes­ter­day’s Low 15452.80

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. 3‑day brack­et. IBR tra­versed 0.71xASR indi­cat­ing fur­ther pos­si­bil­i­ty for respon­sive activ­i­ty but it did take out H4 sup­ply and test­ed MN C‑sup.
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Strength From With­in IBR
• Hypo 2
  • Failed Auc­tion Short
• Hypo 3
  • Weak­ness From With­in IBR 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15588.27
• W1-C‑S 15561.74

ZOIs for Pos­si­ble Long

• H4-C‑D 15481.93
• W1-C‑D 15290.73

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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