20220516 Premarket Prep DAX

#Fin­twit #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 20 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
  • Price retraced to MN-C‑S 14329.95 DBD
  • Price cur­rent­ly trad­ing with­in last month’s body
• W1
  • W1 Bull Engulf reject­ing W1 QLo
  • Price is test­ing new­ly formed demand

Nar­ra­tive

• D1
  • Price start­ed react­ing at D1 Supply
  • D1 QLo reject­ed, price trad­ing mid swing
  • Prev. Day Exceed­ed ADR by 1.23
• H4
  • Big H4 Bear Engulf reject­ing H4 QHi coin­cid­ing with H4 200MA
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • W1-C‑D 13916.39 with­in value
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.04xASR Above Val­ue, With­in Range, some­what ambigu­ous open
  • A accept­ed val­ue but with W1 Demand with­in val­ue a val­ue rota­tion is risky
  • 0.53xASR IBR
  • Asia extend­ed and trad­ed down
  • price trad­ing near round num­ber of 14000

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Return to Val­ue, probe of val­ue, Rever­sal, pos­si­ble Failed Auction
• Hypo 2
  • Short
  • Val­ue Accep­tance, risky, pre­ferred a full rota­tion and late-sus­tained auction 
• Hypo 3
  • Short
  • Auc­tion Fade
• Hypo 4
  • Short
  • Failed Auc­tion

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
  • 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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