20220406 Premarket Prep DAX

06 Apr 20220406 Premarket Prep DAX

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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 14 Trad­ing Plan

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Larg­er Timeframe

• MN
  • Pos­si­ble MN base
  • Price trad­ing with­in last month’s body
• W1
  • Pos­si­ble W1 speed bump / consolidation
  • W1 QLo rejected

Nar­ra­tive

• D1
  • D1 Bear Engulf right at pre­vi­ous demand clos­ing with­in said demand giv­ing D1-C‑S 14456.74 (with­in value)
  • D1 QHi rejected
  • Pos­si­ble D1 Phase 1 / 3
  • Prev. Day Exceed­ed ADR by 1.08
• H4
  • Not the strongest H4 Bull Engulf at D1 demand
  • Price failed to close above H4 QLo
• Trend
  • Strong DT 3/3
• Mar­ket Profile
  • 3‑day over­lap­ping val­ues, yesterday’s wider than usual
• LN Open
  • 0.13xASR Below Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia extend­ed low­er but then trad­ed higher
  • 0.84xASR Wide IBR

Addi­tion­al Notes

• N.A.

Hypos

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

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Just had a long week­end and feel­ing a bit under the weather

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • 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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