20220524 Premarket Prep DAX

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

See more

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

Larg­er Timeframe

• MN
  • Price made a LL and is trad­ing with­in body
  • MN QLo test­ed and price is trad­ing mid swing
• W1
  • W1 Bull Engulf reject­ing W1 QLo fol­lowed by a Drag­on­fly Doji test­ing new­ly formed demand

Nar­ra­tive

• D1
  • Price formed a Spin­ning Doji with­in D1 Supply
  • D1 QHi rejected
• H4
  • H4 DBD reject­ing H4 QHi
  • H4-C‑S 14110.78 with­in VAL at VAH
• Trend
  • Mixed Trend, Down, Up, Down
• Mar­ket Profile
  • 2 over­lap­ping val­ues with­in over­all range
• LN Open
  • 0.05xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed down
  • 0.48xASR IBR
  • B accept­ed value

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Val­ue Accep­tance, full rota­tion could see a con­tin­u­a­tion for a pos­si­ble Late-Sus­tained Auction
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Short
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing a bit jit­tery, drank too much coffee

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

• Twit­ter
• Insta­gram