20211109 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 45 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 above last week’s body but with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Yes­ter­day closed down with longer sell­ing wick but demand is still intact
  • Pos­si­ble H4 Phase 1 / 3
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Strong uptrend 3/3
• Mar­ket Profile
  • 3‑day over­lap­ping values
• Dai­ly Range
  • ADR: 9391
  • ASR: 9820
    • 2455
  • ASR Short: 8809
    • 2202
  • Day
    • Yes­ter­day’s High 16068.90
    • Yes­ter­day’s Low 16006.30

Sen­ti­ment

• LN open
  • Below Val­ue, With­in Range
• Open dis­tance to value
  • 0.05xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance. IB tra­versed 0.60xASR (edge of being wide) accept­ing val­ue and test­ing yesterday’s high and H4 sup­ply. Pos­si­ble H4 Phase 1 / 3. Although with H4 Bear Engulf in the way it would be best if that gets cleared before attempt­ing a long which would coin­cide with D1 sup­ply End.
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Val­ue Accep­tance to Sus­tained Auc­tion Up
• Hypo 2
  • Strength From With­in IBR
• Hypo 3
  • Failed Auc­tion Short
• Hypo 4
  • Auc­tion Fade Short

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 16054.30

ZOIs for Pos­si­ble Long

• H4-C‑D 16034.03
• D1-C‑D 15697.65
• W1-C‑D 15590.83 BASE

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) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
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