20211220 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 52 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 below last week’s body and range
• Price trad­ing below last month’s body but still with­in range

Sen­ti­ment

• LN open
  • Below val­ue, out­side range
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous with price cur­renl­ty trad­ing below over­all range
• Nar­ra­tive
  • First arrival at D1 QLo and D1-C‑D 15127.24 after QHi rejection
  • H4 Phase 4, with price not react­ing off H4 QLo
  • Price opened on huge momen­tum 1.9xASR
  • Asia extend­ed down and exhaust­ed ADR
  • 0.64xASR Wide IBR
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Huge Imbal­ance Con­tin­u­a­tion, Sus­tained Auc­tion Down, pos­si­ble Failed Auc­tion Short
• Hypo 2
  • Mean Rever­sion, late-Sus­tained Auc­tion Up
• Hypo 3
  • Return to Val­ue, Auc­tion Fade Short
• Hypo 4
  • 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

ZOIs for Pos­si­ble Long

• W1-C‑S 15398.00
• D1-C‑D 15246.44
• D1-C‑D 15127.24

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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