20220526 Premarket Prep DAX

#Fin­twit #DAX #DE30Cash #Mar­ket­Pro­file #Order­flow

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 21 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 made a LL and is trad­ing back with­in body
  • MN QLo test­ed and price trad­ing mid swing
• W1
  • W1 Bull Engulf reject­ing W1 QLo fol­lowed by a Drag­on­fly Doji
  • Price cur­rent­ly trad­ing below body with­in range

Nar­ra­tive

• D1
  • Price made a LL and closed bear­ish (although still with­in D1 Sup­ply) with a long buy­ing wick test­ing W1 demand (mul­ti­ple tests)
  • D1 QHi rejected
  • Pos­si­ble D1 Phase 1 / 3
• H4
  • Pos­si­ble H4 Phase 1 / 3
  • H4 QHi rejected
• Trend
  • Mixed Trend, Down, Up, Down
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous with price still with­in over­all range
• LN Open
  • 0.37xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.42xASR IBR, failed to close above Asia

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auc­tion, prefer­ably price clos­ing above Asia first
• Hypo 2
  • Long
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
  • Failed Auc­tion
• Hypo 3
  • Short
  • Late-Sus­tained Auc­tion to Val­ue Acceptance
• Hypo 4
  • Long
  • Auc­tion Fade to poten­tial 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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