20220601 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 22 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
  • May closed as a weird half Bull Engulf / Inside Bar but failed to close above MN VWAP
  • Price test­ed MN QLo and is trad­ing mid swing
• W1
  • W1 RBR giv­ing W1-C‑D 14110.28 Base reject­ing W1 QLo
  • Price trad­ing mid swing
  • W1 closed with­in W1-C‑S 14351.53 / MN Base Supply

Nar­ra­tive

• D1
  • Price took out D1-C‑S 14456.40 then formed a Bear Engulf react­ing off D1-C‑S 14605.20 and D1 QHi although leav­ing a longer buy­ing wick
  • Wide D1/H4 QHi
• H4
  • H4 QHi rejected
  • H4 Three Inside Up at H4 VWAP in UT giv­ing H4-C‑D 14416.25
• Trend
  • Trend is UP 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous after an UT
• LN Open
  • Open With­in Value
  • Asia formed a Neu­tral Day
  • 0.48xASR IBR
  • B closed below VAL
  • C extend­ed IB to the downside
  • NY wider than LN

Addi­tion­al Notes

• Jun 03, 20:30, USD, Non­farm Pay­rolls Pri­vate (May)

Hypos

• Hypo 1
  • Short
  • Late-Sus­tained Auc­tion, con­ges­tion in the way
• Hypo 2
  • Long
  • Failed Auc­tion, pos­si­ble 3‑I day
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing tired still, extra cau­tion, prob­a­bly won’t trade

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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