20211222 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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

See more

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 month’s body and probed above
• Price probed below last week’s body and is cur­rent­ly trad­ing within

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• Nar­ra­tive
  • D1 Three Out­side Up giv­ing D1-C‑D 15393.76
  • H4 con­sol­i­da­tion and break high­er giv­ing H4-C‑D 15424.43 at VAH
  • D1/H4 QLo reject­ed and price is trad­ing mid swing
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Return to Val­ue, Rever­sal, Failed Auc­tion Long
• Hypo 2
  • Val­ue Accep­tance, sus­tained auc­tion down
• Hypo 3
  • Auc­tion Fade Long
• Hypo 4
  • Failed Auc­tion Short

Addi­tion­al notes

• N.A

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 15501.45
• W1-C‑S 15367.07
• MN-C‑S 15241.00

ZOIs for Pos­si­ble Long

• W1-C‑D 15322
• 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

• Twit­ter
• Insta­gram