20220708 Premarket Prep DAX

08 Jul 20220708 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 with­in body with some reac­tion off MN demand, MN QLo
• W1
  • Price see­ing reac­tion off W1 QLo, W1-C‑D 12587.29 and is trad­ing below body, but with­in range after hav­ing made a LL that took out W1 demand

Nar­ra­tive

• D1
  • D1 Three Inside Up reject­ing D1/W1/MN QLo nor­mal­ly cause for more momen­tum although due to sup­ply and DT price could form an Inside Bar
  • Price trad­ing below D1-C‑S 12896.78 (sup­ply below D1 VWAP in DT)
• H4
  • H4 Three Out­side Down react­ing off D1 sup­ply giv­ing H4-C‑S 12853.61 fol­lowed by a pos­si­ble Base level
  • Price trad­ing with­in H4 QHi (see­ing some reac­tion from the inside of QHi)
• Trend
  • Strong DT 3/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous, return­ing to the over­all range
• LN Open
  • Prev. Day trad­ed 0.99xADR
  • Open With­in Value
  • Asia formed a Neu­tral Day but most­ly trad­ed lower
  • 0.39xASR IBR
  • B closed above VAH

Addi­tion­al Notes

• NFP today

Hypos

• Hypo 1
  • Short
  • Rever­sal, Failed Auction
• Hypo 2
  • Long
  • Failed Auc­tion, pos­si­ble 3‑I Day
• Hypo 3
  • Long
  • Late-Sus­tained Auction
• Hypo 4
  • Short
  • Late-Sus­tained Auction

Clar­i­ty / Confidence

• 2

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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