20211209 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 50 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 is trad­ing above last week’s body and range after it start­ed react­ing off W1 demand and W1 50MA in UT

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Mar­ket Profile
  • Wide Val­ue cre­at­ed above the pre­vi­ous although price is trad­ing cur­rent­ly below
• Nar­ra­tive
  • D1 Inside Bar after a big move up, pos­si­ble D1 Three Inside Down if the lows can get tak­en out and price can close below. Oth­er­wise there could be a con­tin­u­a­tion higher. 
  • Price slowed down at H4 200MA and broke down giv­ing H4-C‑S 15823.75 and start­ed consolidating
  • D1 QLo reject­ed with no arrival at QHi (yet)
  • Mixed trend
  • Open with­in val­ue, although val­ue is wide
  • Asia closed break­ing high­er from H4 con­sol­i­da­tion although not clear­ing the sup­ply and also formed a Neu­tral Day
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Long
• Hypo 2
  • Val­ue Rejec­tion Down, late-sus­tained auc­tion short, late-sus­tained auc­tion preferred
• 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 15823.75

ZOIs for Pos­si­ble Long

• W1-C‑S 15398.00

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing Okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 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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