20220413 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 15 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 QHi reject­ed price trad­ing mid swing
  • Pos­si­bly devel­op­ing a MN DBD
  • Price cur­rent­ly trad­ing below last month’s body, but still with­in range
• W1
  • Last week closed as a W1 Bear Engulf
  • W1 QLo reject­ed, price trad­ing mid swing
  • Price cur­rent­ly trad­ing below last week’s body and range made a LL

Nar­ra­tive

• D1
  • Price reached and test­ed D1 QLo and D1-C‑D 13918.70
  • Price closed low­er but with slight­ly longer buy­ing wick
  • Prev. Day Exceed­ed ADR by 1.38
• H4
  • H4 Bull Engulf at D1/H4 QLo (rejec­tion) giv­ing H4-C‑D 14004.35 (near round number)
  • Fol­lowed by a Bear Engulf with no con­tin­u­a­tion. Instead a move high­er clos­ing with­in H4-C‑S 14058.03 (Low — Dist. Curve)
  • Pre­mar­ket closed as a Bear­ish inside Bar
  • Pos­si­ble H4 phase 1 / 3
• Trend
  • Strong DT (although price arrived at D1 QLo and H4 start­ed rejecting)
• Mar­ket Profile
  • Wide val­ue cre­at­ed below the brack­et­ing range although VAH still touch­ing the range
• LN Open
  • Open With­in Value
  • Asia extend­ed and trad­ed higher
  • 0.34xASR Tight IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion, Pos­si­ble 3‑I Day
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade
• Hypo 4
  • Short
  • Auc­tion Fade

Clar­i­ty

• 2

Mind­ful Trad­ing (lack of sleep?)

• Still not feel­ing the sharpest. Was sick a few days. 

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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