20211112 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 and made a HH

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Closed high­er tra­vers­ing 1.26xADR tak­ing out H4/D1 supply
  • H4 Three Out­side Down giv­ing H4-C‑S 16100.90 and price returned to H4-C‑D 16080.83
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed at the top of the over­all range
• Dai­ly Range
  • ADR: 9607
  • ASR: 9465
    • 2366
  • ASR Short: 8615
    • 2154
  • Day
    • Yes­ter­day’s High 16115.70
    • Yes­ter­day’s Low 15997.50

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. H4 Three Out­side Down could see a con­tin­u­a­tion down how­ev­er price has already retraced to new­ly formed sup­ply. With an open inside val­ue the direc­tion isn’t as clear. Price made an all-time high and trend is still up 3/3.IBR tra­versed 0.53xASR.
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Strength From With­in IBR
• Hypo 2
  • Failed Auc­tion Long
• Hypo 3
  • Weak­ness From With­in IBR
• Hypo 4
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 16100.90

ZOIs for Pos­si­ble Long

• H4-C‑D 16080.83
• H4-C‑D 16042.51

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

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