20220302 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 9 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
  • MN Three Out­side Down with slight buy­ing wick off of MN VWAP in UT
  • MN QHi rejected
  • Price trad­ing below last month’s body and range has made a LL
• W1
  • Price trad­ing at W1 QLo and has left a buy­ing wick
  • Price trad­ing with­in W1 demand, near­ing W1 demand End

Nar­ra­tive

• D1
  • Price took out D1 demand and closed low­er as a D1 Bear Engulf after a speedbump
  • Price closed with­in W1 demand, as well as D1/W1 QLo, although above D1-C‑D 13793.56
  • Prev. Day Exceed­ed ADR by 1.51
• H4
  • H4 Bear Engulf giv­ing H4-C‑S 13892.02 but failed to close with­in D1 demand
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 4‑day brack­et­ing range
• LN Open
  • 0.73xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Open at yesterday’s low
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down

Hypos

• Hypo 1
  • Short
  • Return to Val­ue, VAL rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Addi­tion­al notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing tired so will take extra caution

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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