20220325 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 body

Nar­ra­tive

• D1
  • D1 closed below con­sol­i­da­tion with no imme­di­ate con­tin­u­a­tion, instead a pos­si­ble base through yes­ter­day clos­ing as an Inside Bar (although clos­ing with­in new­ly formed D1 Supply
  • D1 QLo reject­ed, with price trad­ing mid swing
• H4
  • Pos­si­ble H4 Phase 1 / 3 
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Over­lap­ping val­ues trad­ing with­in over­all range
• LN Open
  • Open With­in Value
  • 0.23xASR Tight IBR
  • Asia formed a Neu­tral Day trad­ing sideways

Addi­tion­al notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auction
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Didn’t have the best sleep 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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