20211117 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 tra­vers­ing 1.68xADR
  • H4 Evening star with no fol­low-through. Instead a Bull Engulf in premarket. 
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • Wider val­ue cre­at­ed above the brack­et­ing range
• Dai­ly Range
  • ADR: 8944
  • ASR: 7321
    • 1830
  • ASR Short: 6546
    • 1637
  • Day
    • Yes­ter­day’s High 16266.20
    • Yes­ter­day’s Low 16116.30

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Open dis­tance to value
  • 0.20xASR
• Nar­ra­tive
  • Mod­er­ate to Large Imbal­ance. Asia extend­ed to the down­side. ADR exhaus­tion is not far above IB. IB took out some sup­ply. Prev. Day exceed­ed ADR by 1.68. ASR too tight though. New H4 demand formed but it’s high in the dis­tri­b­u­tion curve at H4-C‑D 16246.10 high in dis­tr. curve.
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Rever­sal Short, ADR exhaus­tion or near­by, pos­si­ble Failed Auction
• Hypo 2
  • Val­ue Acceptance
• Hypo 3
  • Strength From With­in IBR
• Hypo 4
  • Sus­tained Auc­tion Long

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities

ZOIs for Pos­si­ble Long

• H4-C‑D 16246.10 high in dis­tr. curve
• 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

• Twit­ter
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