20220610 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 23 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 trad­ing deep­er with­in body
• W1
  • Pos­si­bly devel­op­ing W1 Evening Star react­ing off W1 VWAP
  • W1 QLo reject­ed, price trad­ing mid swing
  • Price reached W1 Base Demand level

Nar­ra­tive

• D1
  • D1 QHi reject­ed, price trad­ing mid swing
  • Pos­si­ble tran­si­tion to Phase 4
  • Price trad­ing with­in D1-C‑D 14058.79
• H4
  • H4 Phase 4 with clean arrival at H4 QLo
• Trend
  • Mixed Trend, Down, Up, Down
• Mar­ket Profile
  • Val­ue cre­at­ed below the pre­vi­ous, although still with­in over­all range, price trad­ing below
• LN Open
  • Prev. Day Exceed­ed ADR by 1.57
  • 1.37xASR Below Val­ue, Out­side Range
  • Large to Huge Imbalance
  • Asia extend­ed and trad­ed lower
  • 1.01xASR Wide IBR trad­ing low­er around round number

Addi­tion­al Notes

• Pos­si­ble Fri­day Profit-Taking

Hypos

• Hypo 1
  • Long
  • Failed Auc­tion
• Hypo 2
  • Short
  • Weak­ness From With­in IBR
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 4

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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