20220330 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 13 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 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
  • Price made a HH and is trad­ing above last week’s body and range

Nar­ra­tive

• D1
  • Price trad­ed and closed high­er with slight reac­tion off test of D1 QHi
  • Prev. Day Exceed­ed ADR by 1.40
• H4
  • H4 Bear Engulf at D1 QHi with con­tin­u­a­tion down
• Trend
  • Trend is Down 2/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed slight­ly over­lap­ping the top of the previous
• LN Open
  • 0.00xASR Above Val­ue, With­in Range
  • Ambigu­ous open
  • Mod­er­ate Imbalance
  • 0.43xASR Nor­mal IBR, accept­ed val­ue dur­ing A, formed a base dur­ing B TPO
  • Asia extend­ed and trad­ed lower

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance, pos­si­ble con­tin­u­a­tion after rotation
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Short
  • Late-Sus­tained Auc­tion Trend Continuation
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Late in the month. I’m in the prof­it for the month so won’t take any unnec­es­sary risks.

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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