20220428 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, QLo tested
  • Price trad­ing below body with­in range at W1 demand coin­cid­ing with MN RBR
  • MN RBR ori­gin has already been tested
• W1
  • W1 Con­sol­i­da­tion and break down
  • W1 QLo rejected
  • Price is mak­ing a LL test­ing W1 Demand Three Out­side Up — could see con­tin­u­a­tion although due to time­frame there could be some pushback
  • W1 demand is see­ing a reaction

Nar­ra­tive

• D1
  • Near-Bull­ish Inside Bar, pos­si­ble D1 Three Out­side Up although trad­ing into D1 supply
  • D1 QHi reject­ed with price trad­ing mid swing
  • Prev. Day Exceed­ed ADR by 1.08
• H4
  • H4-C‑D 13834.93 RBR cre­at­ed at VAH
  • Price test­ing H4 QHi
• Trend
  • Strong DT
• Mar­ket Profile
  • Slight­ly wider Val­ue cre­at­ed below the previous
• LN Open
  • 0.44xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • 0.75xASR Wide IBR exhaust­ing ADR

Addi­tion­al Notes

• Last week of the month

Hypos

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

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Try­ing a new nootrop­ics stack
• Didn’t sleep well but feel­ing okay
• Try­ing out a new for­mat for my pre­mar­ket prep

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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