20220118 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 2022 Week 3 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 below last week’s body and with­in range, W1 demand

Sen­ti­ment

• LN open
  • 0.39xASR Below Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
• Mar­ket Profile
  • Brack­et­ing range established
• Nar­ra­tive
  • Yes­ter­day closed neu­tral, pos­si­ble DBD below D1 QHi
  • ADR got exhaust­ed dur­ing Asia, trad­ing with­in D1 demand
  • Price took out H4 demand dur­ing the wide IBR and price is still trad­ing with­in D1 demand
  • H4 QHi reject­ed and first arrival at H4 QLo
  • Trend is UP 3/3
  • Asia extend­ed and trad­ed down exhaust­ing ADR
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Short
  • Weak­ness From With­in IBR
• Hypo 3
  • Long
  • Strenght From With­in IBR
• Hypo 4
  • Long
  • Rever­sal, OLD H4 demand, ADR exhaus­tion, tricky if D1 demand gets tak­en out, pos­si­ble Auc­tion Fade at W1 C‑Dem RBR

Addi­tion­al notes

• N.A.

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