20220307 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 10 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
  • Price trad­ing at MN QLo and with­in MN-C‑D 12765.57
• W1
  • Price trad­ing with­in W1 QLo and W1-C‑D 12585.63

Nar­ra­tive

• D1
  • Price gapped down over the week­end tak­ing out D1 demand
  • Price trad­ing at D1 QLo
  • D1 Phase 4
  • Prev. Day Exceed­ed ADR by 1.61, pos­si­ble momentum
• H4
  • H4 Phase 4
• Trend
  • Trend is down 3/3
  • Strong DT
• Mar­ket Profile
  • Val­ue cre­at­ed below the rpevious
• LN Open
  • 1.73xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia extend­ed down
  • IB trad­ed low­er exhaust­ing ADR, pos­si­ble uni­di­rec­tion­al day
  • Wide IBR 0.63xASR

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • 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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