Premarket Prep DAX 20210616

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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 2021 Week 24 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing above last week’s body and range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Weak Bull Engulf formed with longer sell­ing wick
  • H4-C‑D 15729.50 cre­at­ed above pre­vi­ous demand with a slight RBR trad­ing with­in supply
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • Flim­sy over­lap of val­ues but still upwards slope
• Dai­ly Range
  • ADR: 10997
  • ASR: 10820
    • 271
  • Day
    • Yes­ter­day’s High 15792.60
    • Yes­ter­day’s Low 15706.80

Sen­ti­ment

• LN open
  • Open inside value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Open was right at VAL but still with­in. H4 cre­at­ed new demand above the pre­vi­ous so ten­den­cy is still upwards. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Val­ue Rejec­tion Up / Sus­tained Auc­tion mon­i­tor for pop­ping of supply
• Hypo 2
  • Val­ue Rejec­tion Down Fail­ure — Failed Auc­tion, probe below val­ue + H4 demand
• Hypo 3
  • Val­ue Rejec­tion Up Fail­ure / Failed Auction
• Hypo 4
  • Auc­tion Fade after Hypo 1
• Hypo 5 
  • Val­ue Rejec­tion Down / Sus­tained Auction

Addi­tion­al notes

• Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

• Not favored in equities

ZOIs for Pos­si­ble Long

• H4-C‑D 15729.50
• D1-C‑D 15591.00

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Week­ly Goal
  • Min. 3 times work­ing out at home + manda­to­ry cardio
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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