20220323 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 12 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 price cur­rent­ly trad­ing right below last month’s body after react­ing off MN demand and QLo
• W1
  • W1 Three Inside Up reject­ing W1 QLo with price trad­ing with­in last week’s body
  • Pos­si­ble V‑shaped correction
  • Price made a HH and is trad­ing with­in last week’s range

Nar­ra­tive

• D1
  • D1 Bull Engulf break­ing up from con­sol­i­da­tion range giv­ing D1-C‑D 14427.69 High in Dis­tr. Curve (with­in value)
  • D1 QLo rejection
• H4
  • H4 price slow­ing down with­in D1 Supply
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • 5 Over­lap­ping val­ues, brack­et­ing range
• LN Open
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • 0.27xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • 0.27xASR Tight IBR

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, VAH rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Val­ue Accep­tance, pos­si­ble con­tin­u­a­tion after val­ue rotation
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Addi­tion­al notes

• N.A.

Mind­ful Trad­ing (lack of sleep?)

• There were 3 earth­quakes last night that woke me up so prob­a­bly not the sharpest. Will just sit and observe unless I see some­thing very obvious.

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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