20211215 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 51 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 with­in last week’s body and pulling back to new­ly formed W1 demand (no arrival yet) although to pre­vi­ous W1 demand

Sen­ti­ment

• LN open
  • Below Val­ue, Out­side Range
• Open dis­tance to value
  • 0.4xASR
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous, price still with­in over­all range
• Nar­ra­tive
  • D1 closed down fol­low­ing the D1 Bear Engulf
  • H4 Three Out­side Up formed at H4 LKC in UT giv­ing H4-C‑D 15496.33
  • Price trad­ing mid swing after H4 QHi rejection
  • Trend Change from Mixed trend to Trend is DOWN 2/3
  • Prev. Day Exceed­ed ADR by 1.27
  • Pre­mar­ket closed as a H4 Bear Engulf with long buy­ing wick giv­ing H4-C‑S 15519.48 (with­in range, below VAL), although low in dis­tri­b­u­tion curve so could get tak­en out,
  • Mod­er­ate to Large Imbalance
  • Asia trad­ed down
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Sus­tained Auc­tion Up, pos­si­ble Val­ue Acceptance
• Hypo 2
  • Return to Val­ue, pos­si­ble Failed Auc­tion Short
• Hypo 3
  • Auc­tion Fade Short
• Hypo 4
  • Sus­tained Auc­tion Down
• Hypo 5
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15702.98
• D1-C‑S 15671.13
• H4-C‑S 15519.48

ZOIs for Pos­si­ble Long

• H4-C‑D 15496.33
• 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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