20220707 Premarket Prep DAX

07 Jul 20220707 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, with­in range, with­in MN demand
• W1
  • Price made a LL and is cur­rent­ly trad­ing below body, with­in range, with some reac­tion off W1-C‑D 12587.29 and MN/W1 QLo

Nar­ra­tive

• D1
  • D1 Inside Bar clos­ing above MN/W1/D1 QLo, pos­si­ble devel­op­ing D1 Three Inside Up
• H4
  • H4 QLo reject­ed, price trad­ing mid swing although near­ing H4 QHi
  • Pos­si­ble H4 Phase 2
• Trend
  • Strong DT 3/3
• Mar­ket Profile
  • 2 over­lap­ping values
• LN Open
  • ADR Exhaus­tion near D1-C‑S 12896.78
  • 0.61xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but most­ly trad­ed higher
  • 0.52xASR IBR

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Long
  • Late-Sus­tained Auction
• Hypo 2
  • Short
  • Rever­sal, Pos­si­ble Auc­tion Fade, Pos­si­ble Failed Auction 
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Failed Auc­tion

Clar­i­ty / Confidence

• 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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