20211116 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 46 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 range hav­ing made a HH

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 closed high­er giv­ing D1-C‑D 16103.10 and took out Supply
  • H4 RBR giv­ing H4-C‑D 16135.25 Base level
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • 4‑day brack­et­ing range where yesterday’s val­ue was wider than the pre­vi­ous ones
• Dai­ly Range
  • ADR: 8074
  • ASR: 7776
    • 1944
  • ASR Short: 6680
    • 1670
  • Day
    • Yes­ter­day’s High 16150.20
    • Yes­ter­day’s Low 16068.80

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Open dis­tance to value
  • 0.44xASR
• Nar­ra­tive
  • Mod­er­ate to Large Imbal­ance. Prev. Day trad­ed 1xADR. Yesterday’s high near VAH at ses­sion high as well as H4 demand (although a base). D1 demand with­in val­ue. ADR exhaus­tion not far above IBR. Trend is still up 3/3. ASR is slight­ly too tight so might not take a trade on DAX today. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Return to Val­ue, val­ue edge rever­sal, pos­si­ble Failed Auc­tion long
• Hypo 2
  • Auc­tion Fade Long 
• Hypo 3
  • Failed Auc­tion Short, Rever­sal Short at or near ADR exhaustion

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities

ZOIs for Pos­si­ble Long

• H4-C‑D 16135.25 BASE
• D1-C‑D 16103.10

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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