20211115 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 46 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 with­in last week’s body

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Some D1 Con­sol­i­da­tion after Bull Engulf was formed giv­ing D1-C‑D 16013.04
  • H4 Bear Engulf giv­ing H4-C‑S 16106.53 fol­lowed by an Inside Bar at H4-C‑D 16080.26 OLD
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • 2 over­lap­ping val­ue at the top of the range
• Dai­ly Range
  • ADR: 8517
  • ASR: 8086
    • 2022
  • ASR Short: 7236
    • 1809
  • Day
    • Yes­ter­day’s High 16126.30
    • Yes­ter­day’s Low 16064.39

Sen­ti­ment

• LN open
  • Below Val­ue, With­in Range
• Open dis­tance to value
  • 0.04xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance although pos­si­bly a bit ambigu­ous due to the very near prox­im­i­ty to VAL. IBR already rotat­ed through val­ue. Pos­si­ble devel­op­ing H4 DBD although price is trad­ing between H4 sup­ply and demand. Pos­si­ble H4 Phase 1 / 3. Asia extend­ed down if LN does the same ADR exhaus­tion impli­ca­tion changes with that. 
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Val­ue Accep­tance, pos­si­ble sus­tained auc­tion up
• Hypo 2
  • Failed Auc­tion Long
• Hypo 3
  • Sus­tained Auc­tion Short
• Hypo 4
  • Auc­tion Fade Long, vari­a­tion to Hypo 3

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 16106.53

ZOIs for Pos­si­ble Long

• H4-C‑D 16080.26
• H4-C‑D 16042.13 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