20220303 Premarket Prep DAX

03 Mar 20220303 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

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
  • D1 Inside Bar with longer buy­ing wick not clos­ing above W1/D1 QLo
  • Pos­si­bly devel­op­ing a D1 Three Inside Up oth­er­wise a DBD
• H4
  • H4 Bull Engulf giv­ing H4-C‑D 13904.97 (inside val­ue) reject­ing H4 QLo
  • Price slow­down just below D1/W1 QLo, not clos­ing above
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­ced­ing brack­et­ing range
• LN Open
  • 0.05xASR Above Val­ue, With­in Range
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • Pos­si­ble Frankie Fake­out trad­ing lower
  • IB accept­ed Value

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance, although trad­ing right into demand
  • Late-sus­tained auc­tion preferred
  • Pos­si­ble Weak­ness From With­in IBR
• Hypo 2
  • Long
  • Return to Val­ue, VAH rever­sal, pos­si­ble Failed Auction
  • Pre­ferred to close above Asia
• Hypo 3
  • Long
  • Sus­tained Auction, 
  • Pre­ferred to close above Asia
• Hypo 4
  • Short
  • Auc­tion Fade

Clar­i­ty

• 3

Addi­tion­al notes

• NFP tomor­row

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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