20220518 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 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
  • Price closed high­er with­in D1 Sup­ply giv­ing D1-C‑D 14111.33 High in Dist. Curve, but failed to take it out and close with­in D1 QHi
  • Prev. Day Exceed­ed ADR by 1.00
• H4
  • H4 closed high­er with­in Wide H4 QHi
  • H4 Bear Engulf and slight con­tin­u­a­tion lower
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.03xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed down
  • 0.37xASR IBR
  • A TPO accept­ed val­ue, B closed lower
  • D1 demand below VAL

Addi­tion­al Notes

• NY wider than LN

Hypos

• Hypo 1
  • Short
  • Val­ue Accep­tance, pos­si­ble sus­tained auction 
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • 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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