20220328 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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 13 Trad­ing Plan

See more

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price made a LL but is cur­rent­ly trad­ing with­in last month’s body
  • MN QHi reject­ed but price start­ed reject­ing off MN QHi
• W1
  • W1 Base after a Three Inside Up
  • W1 QLo rejected

Nar­ra­tive

• D1
  • Pos­si­ble D1 Phase 1 / 3
  • D1 QLo rejected
• H4
  • H4 QLo reject­ed with price trad­ing mid swing
  • H4 DBD giv­ing H4-C‑S 14378.56 (tak­ing out dur­ing IB)
  • Lots of long buying/selling wicks around
  • Pos­si­ble H4 Phase 1 / 3
• Trend
  • Trend is Down 3/3
• Mar­ket Profile
  • Brack­et­ing range, mul­ti­ple over­lap­ping values
• LN Open
  • 0.06xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • 0.7xASR Wide IBR
  • Asia formed a Neu­tral Day trad­ing sideways

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Rever­sal, D1 C‑Sup, Pos­si­ble Failed Auction
• Hypo 2
  • Long
  • Strength From With­in IBR
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Short
  • Weak­ness From With­in IBR

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

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

• Twit­ter
• Insta­gram