20220527 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 start­ed trad­ing with­in body
• W1
  • Price test­ing new­ly formed W1 demand through Bull Engulf and start­ed trad­ing high­er mak­ing a HH

Nar­ra­tive

• D1
  • Price formed a Big Bull Engulf giv­ing D1-C‑D 14055.61 (with­in val­ue) clos­ing high­er get­ting close to tak­ing out D1 Sup­ply End 14314.71 (at H4 Swing take out)
  • Although price failed to close above the pre­vi­ous D1 High and D1 QHi
  • Prev. Day Exceed­ed ADr by 1.23
• H4
  • Some slow­down below D1 QHi clos­ing deep­er with­in Wide H4 QHi
  • H4 Bull Engulf High in Dist. Curve formed at D1 QHi
• Trend
  • Trend Change: Trend is UP 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous although still with­in over­all range
• LN Open
  • 1.09xASR Above Val­ue, Out­side Range
  • Large Imbal­ance
  • 0.41xASR IBR
  • Asia formed a Neu­tral Day and trad­ed sideways
  • NY wider than LN

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking

Hypos

• Hypo 1
  • Short
  • Sus­tained Auc­tion, risky with con­ges­tion in the way
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Rever­sal, pos­si­ble 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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