20211110 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 45 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 above last week’s body but with­in range after hav­ing made a HH

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Yes­ter­day closed as a Grave­stone Doji after hav­ing made a HH but then pro­ceed­ed to make a slight LL clear­ing both sup­ply and demand
  • H4 Bull Engulf formed after demand got tak­en out
  • Pos­si­ble H4 Phase 1 / 3
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Strong uptrend 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous 3‑day over­lap­ping range
• Dai­ly Range
  • ADR: 9530
  • ASR: 9414
    • 2354
  • ASR Short: 8322
    • 2081
  • Day
    • Yes­ter­day’s High 16105.40
    • Yes­ter­day’s Low 15993.10

Sen­ti­ment

• LN open
  • Below Val­ue, With­in Range
• Open dis­tance to value
  • 0.23xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance. Yes­ter­day exceed­ed ADR by 1.21. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • VAL Rever­sal
• Hypo 2
  • Val­ue Accep­tance and pos­si­ble con­tin­u­a­tion through sus­tained auc­tion up
• Hypo 3
  • Failed Auc­tion Long
• Hypo 4
  • Sus­tained Auc­tion Down
• Hypo 5
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

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

ZOIs for Pos­si­ble Long

• H4-C‑D 16011.71
• H4-C‑D 15951.29 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) 
  • 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
• Insta­gram