20211111 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 with­in last week’s body after hav­ing made a HH

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Anoth­er D1 Grave­stone Doji formed
  • H4 Phase 1 / 3
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Strong Uptrend 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous, at the bot­tom of the over­all range
• Dai­ly Range
  • ADR: 9061
  • ASR: 9426
    • 2357
  • ASR Short: 8334
    • 2084
  • Day
    • Yes­ter­day’s High 16076.80
    • Yes­ter­day’s Low 15985.30

Sen­ti­ment

• LN open
  • Above Val­ue, With­in Range
• Open dis­tance to value
  • 0.15xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance. Asia trad­ed high­er to H4 sup­ply. Pos­si­ble H4 Phase 1 / 3. Price is strug­gling to close high­er after hav­ing made an all-time high. Although price has increased in ‘speed’ no wider val­ue has been cre­at­ed (yet). IBR came close to exhaust­ing ADR. 
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • VAH rever­sal, pos­si­ble Failed Auc­tion Long (probe of value)
• Hypo 2
  • VAA and sus­tained Auc­tion Short
• Hypo 3
  • Sus­tained Auc­tion Long
• Hypo 4
  • Auc­tion Fade Long, vari­a­tion to Hypo 2

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
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