20220426 Premarket Prep DAX

26 Apr 20220426 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

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
  • Price made a LL and is cur­rent­ly trad­ing below last week’s body

Nar­ra­tive

• D1
  • D1 closed leav­ing a long buy­ing wick, pos­si­bly a Base (RBR), react­ing off D1 QLo and D1 demand
  • Prev. Day Exceed­ed ADR by 1.09
• H4
  • H4 Three Out­side Up and con­tin­u­a­tion high­er reject­ing H4 QLo return­ing and tak­ing out H4 Sup­ply Base level
  • Price trad­ing mid swing
  • Price slowed down and formed a doji at H4 VWAP and is cur­rent­ly trad­ing below pre­vi­ous range. Pos­si­bil­i­ty for a devel­op­ing ‘weak’ H4 Evening Star.
• Trend
  • Strong DT
• Mar­ket Profile
  • Val­ues in DT with price trad­ing above value
• LN Open
  • 0.78xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large imbalance
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • 0.59xASR IBR, slight­ly wide

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Late-Sus­tained Auc­tion, Val­ue Acceptance
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Long
  • 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

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