20220425 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 17 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
  • Pos­si­bly devel­op­ing MN DBD, although trad­ing with­in long buy­ing wick
  • MN QHi rejected
  • Price cur­rent­ly trad­ing below body with­in range
• W1
  • W1 Con­sol­i­da­tion and break down, test­ing new­ly formed W1 Supply
  • W1 QLo rejected

Nar­ra­tive

• D1
  • D1 Three Out­side down with pos­si­ble con­tin­u­a­tion although price arrived at D1 QLo
  • Prev. Day Exceed­ed ADR by 1.85
• H4
  • Price trad­ing with­in H4 QLo coin­cid­ing with D1 QLo and price has start­ed reacting
• Trend
  • Strong DT
• Mar­ket Profile
  • Val­ue cre­at­ed below the previous
• LN Open
  • 1.85xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia trad­ed low­er exhaust­ing ADR
  • 0.92xASR Wide IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Strength From With­in IBR
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Long
  • Failed Auc­tion

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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