Premarket Prep DE30 DAX 09042020

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DE30 DAX. This prep builds off of my week­ly trade plan I made here:

DE30 DAX Week 36 Trad­ing Plan

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

Non-con­jec­ture obser­va­tions of the market

• D1 Bear Engulf retrac­ing the pre­vi­ous Marubozu can­dle after W1-C‑S 13423.12 proved reactive. 
• Mar­ket Profile
  • Yes­ter­day opened above brack­et­ing range pro­ceed­ed to retrace back to brack­et­ing range low
  • Cur­rent­ly trad­ing 1.1xADR and 1.6xASR below VAL
  • ADR: 26032
  • ASR: 18824
  • Day
    • Day High 13461.20
    • Day Low 12932.01
    • Price with­in above day range
  • Loca­tions
    • D1-C‑D 12997.12 at H4 QLo at 1.1xADR and 1.6xASR below VAL

Com­pared against Week­ly Trad­ing Plan

• Still above last month’s body
• Trad­ing with­in MN QHi, cur­rent­ly above last month’s range with­in MN-C‑S 12936.82
• Trad­ing above last week’s body

Sen­ti­ment

• Sen­ti­ment
  • LN open
    • Below val­ue, out­side range
  • Open dis­tance to val­ue: 1.1xADR and 1.6xASR below VAL
  • Sen­ti­ment
    • Due to the place­ment of the open I have a more bull­ish sentiment
    • DAX IB range is 1.1x ASR so could respon­sive activ­i­ty instead. Cau­tion is warranted. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1 — long mean reversion 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts (very risky)

• D1-C‑S 13729.96
• W1-C‑S 13423.12

ZOIs for Pos­si­ble Long

• D1-C‑D 13098.56 BASE
• D1-C‑D 12997.12

Mind­ful Trading

• Slept okay

Focus Points for trad­ing development

• Week­ly Goal
  • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
  • Incor­po­rate pro­file day type
• Trad­ing Rules
  • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR 
  • Don’t take into con­sid­er­a­tion medi­um time frame c‑lines past 24 hours
  • FX with­in val­ue > DAX
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • OK to take 1R when in DD
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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