20220422 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 16 Trad­ing Plan

See more

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 above last week’s body and made a HH

Nar­ra­tive

• D1
  • D1 closed as an Invert­ed Ham­mer react­ing off D1/W1 Sup­ply as well as D1 QHi
  • Prev. Day Exceed­ed ADR by 1.29
• H4
  • H4 Three Out­side Down rejec­tion of D1/H4 QHi with some follow-through
  • Price trad­ing mid swing
  • Although H4 Bull­ish Inside Bar formed in premarket
• Trend
  • Strong DT
• Mar­ket Profile
  • Val­ues in UT
• LN Open
  • 0.98xASR Below Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia trad­ed side­ways but pre­dom­i­nant­ly higher
  • 0.47xASR IBR

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking

Hypos

• Hypo 1
  • Long
  • Sus­tained Auction
• Hypo 2
  • Short
  • Return to Val­ue, pos­si­ble LTF Sup­ply, Rever­sal, pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Auc­tion Fade

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

• Twit­ter
• Insta­gram