20220421 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 16 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 devel­op­ing MN DBD, although with a long buy­ing wick
  • Price cur­rent­ly trad­ing below last month’s body but with­in range
• W1
  • W1 Bear Engulf and slight con­tin­u­a­tion down although with longer buy­ing wick
  • Price cur­rent­ly trad­ing with­in last week’s body

Nar­ra­tive

• D1
  • D1 trad­ed and closed higher
  • Price trad­ing with­in D1 Supply
  • Prev. Day Exceed­ed ADR by 1.07
• H4
  • Pos­si­ble H4 Phase 2
  • Price trad­ing with­in H4 QHi
  • H4 demand at VAH
• Trend
  • Trend Change: Trend is Down 2/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed above over­all range
• LN Open
  • 0.26xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Price trad­ing at round num­ber of 14500
  • 0.74xASR Wide IBR
  • Asia extend­ed higher

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Auc­tion Fade, pos­si­ble reversal

Clar­i­ty

• 4

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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