20220309 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
  • Price trad­ing below last month’s body and range
• W1
  • Price trad­ing with­in W1 QLo and W1-C‑D 12585.63
  • Price made a LL and is cur­rent­ly trad­ing with­in last week’s body

Nar­ra­tive

• D1
  • D1 Bull Engulf giv­ing D1-C‑D 12900 reject­ing D1/W1/MN QLo
  • Prev. Day Exceed­ed ADR by 1.66
• H4
  • Pos­si­ble H4 Phase 1 tran­si­tion to 2 tak­ing out H4 supply
• Trend
  • Trend is Down 3/3
  • Strong DT
• Mar­ket Profile
  • Val­ue cre­at­ed on top of the previous
• LN Open
  • 0.65xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Open at old H4 sup­ply and yesterday’s high
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • ADR exhaus­tion not far above, ASR Exhaus­tion just above it

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auc­tion, prefer­ably close above Asia and IB / yesterday’s high
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Rever­sal, ADR exhaus­tion, pos­si­ble 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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