20220706 Premarket Prep DAX

06 Jul 20220706 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 27 Trad­ing Plan

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 cur­rent­ly trad­ing below body and range with­in MN demand at MN QHi
• W1
  • Price took out W1 QLo and W1 demand and is trad­ing at W1-C‑D 12587.29
  • Price trad­ing at W1 QLo (shar­ing same lev­el with MN QLo)

Nar­ra­tive

• D1
  • Price took out demand from March 7th and closed belo slight­ly with­in D1 QLo (shar­ing same lev­el as W1 and MN QLo)
• H4
  • H4 Inside Bar and con­sol­i­da­tion at D1/W1/MN QLo
• Trend
  • Strong DT 3/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed below the previous
• LN Open
  • Prev. Day Exceed­ed ADR by 1.88
  • Open With­in Val­ue (very wide value)
  • Asia trad­ed high­er but failed the auction
  • 0.7xASR IBR (near­ly too wide)

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR, will mon­i­tor for strength with­out IB extension
• Hypo 3
  • Long
  • Late-Sus­tained Auc­tion EDIT: Failed Auction
• Hypo 4
  • Short
  • Weak­ness From With­in IBR, will mon­i­tor for weak­ness with­out IB extension

Clar­i­ty / Confidence

• 1 lack of clarity/confidence, will be extra cautious

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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