20220517 Premarket Prep DAX

17 May 20220517 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

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Price trad­ing with­in body after hav­ing made a LL
• W1
  • W1 Bull Engulf at W1 QLo, new­ly formed demand test­ed and price made a HH

Nar­ra­tive

• D1
  • D1 closed down react­ing off D1 sup­ply but with longer buy­ing wick
  • D1 QLo reject­ed, price trad­ing mid swing
• H4
  • H4 closed high­er at 200MA with­in Wide H4 QHi
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • 0.52xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • 0.64xASR Wide IBR
  • Asia trad­ed higher

Addi­tion­al Notes

• NY wider than LN

Hypos

• Hypo 1
  • Long
  • Strength From With­in IBR
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Short
  • Failed Auc­tion
• Hypo 4
  • Short
  • Auc­tion Fade

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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