20220408 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 14 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
  • Pos­si­ble MN base
  • Price trad­ing with­in below month’s body but with­in range
• W1
  • Pos­si­ble W1 speed bump / con­sol­i­da­tion — no close from range (yet)
  • W1 QLo rejected
  • Price trad­ing below last week’s body and has made a LL

Nar­ra­tive

• D1
  • D1 Inside Bar
  • Prev. Day Exceed­ed ADR by 1.08
  • D1 QHi rejected
  • D1 VWAP BD pos­si­ble devel­op­ing CAR 
  • Price trad­ing at D1 50MA in DT, pos­si­ble TC
  • Pos­si­ble D1 Phase 3
• H4
  • Pos­si­ble H4 Phase 1, tran­si­tion to phase 2
  • H4 QLo reject­ed, near­ing H4 QHi coin­cid­ing with H4-C‑S 14326.90 OLD
• Trend
  • Strong DT
• Mar­ket Profile
  • 2 over­lap­ping val­ues after DT
• LN Open
  • 0.22xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • 0.26xASR Tight IBR
  • Asia formed a Neu­tral Day pre­dom­i­nant­ly trad­ing lower

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Auc­tion Fade
• Hypo 4
  • Short
  • Val­ue Acceptance

Clar­i­ty

• 3

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

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