20220519 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 test­ed MN DBD but start­ed reacting
  • Price made a LL but is trad­ing with­in body
  • Price trad­ing mid swing
• W1
  • W1 Bull Engulf reject­ing W1 QLo with test­ing of new­ly formed demand price made a HH although test­ing demand again

Nar­ra­tive

• D1
  • D1 Bear Engulf at pre­vi­ous sup­ply reject­ing D1 QHi
  • Price trad­ing mid swing
  • Prev. Day Exceed­ed ADR by 1.75
• H4
  • H4 Con­sol­i­da­tion and break down, price near­ing H4 QLo
• Trend
  • Mixed Trend, Down, Up, Down
• Mar­ket Profile
  • 2 over­lap­ping val­ues created
• LN Open
  • 1.57xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.88xASR Wide IBR
  • IB closed below Asia and yesterday’s low

Addi­tion­al Notes

• NY wider than LN

Hypos

• Hypo 1
  • Short
  • Weak­ness From With­in IBR
• Hypo 2
  • Long
  • Failed Auc­tion
• Hypo 3
  • Long
  • Strength From With­in IBR
• Hypo 4
  • 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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