20220224 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 2022 Week 8 Trad­ing Plan

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The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Pos­si­ble devel­op­ing MN Three Out­side Down
  • MN demand tak­en out
• W1
  • Price took out W1 demand and is cur­rent­ly trad­ing below last week’s body and range
  • Price con­tin­ued low­er and is near­ing W1-C‑D 13972.79

Nar­ra­tive

• D1
  • D1 closed as a Bear­ish Inside Bar
  • Prev. Day Exceed­ed ADR by 1.19, might see pullback
  • Price reject­ed D1 QHi and has arrived at D1 QLo
    • coin­cid­ing with W1-C‑D 13972.79
  • Price took out some D1 demand dur­ing Asia and is test­ing D1-C‑D 13793.56 now still trad­ing with­in W1 demand
• H4
  • H4 Bear Engulf at H4 VWAP in DT giv­ing H4-C‑S 14732.91 (at VAL) and price con­tin­ued low­er clos­ing with­in D1 QLo
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous with price cur­rent­ly overex­tend­ed below value
• LN Open
  • 2.82xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance, pos­si­ble con­tin­u­a­tion although price trad­ing at D1 QLo, W1/D1 demand
  • Asia extend­ed down exhaust­ing ADR, pos­si­ble uni­di­rec­tion­al day although risky with trad­ing into W1 demand
  • 0.93xASR Wide IBR

Hypos

• Hypo 1
  • Long
  • Mean Rever­sion
  • Strength From With­in IBR
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Return to Val­ue, Auc­tion Fade, pos­si­ble rever­sal at LTF Supply

Clar­i­ty

• 4

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
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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