20210618 Premarket Prep DAX

18 Jun 20210618 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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

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

Com­pared against Week­ly Trad­ing Plan

• Price made a HH but is cur­rent­ly trad­ing with­in body of last week

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Pull­back to D1-C‑D 15591.00 and D1 VWAP in UT before clos­ing as a D1 Bull Engulf clos­ing with­in D1-C‑S 15732.18
  • H4 Bear­ish Inside Bar formed at D1 Sup­ply although out­side of RTH, slight con­tin­u­a­tion tak­ing out H4 demand.
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • 2 over­lap­ping val­ues with­in over­all range
• Dai­ly Range
  • ADR: 10955
  • ASR: 10633
    • 266
  • Day
    • Yes­ter­day’s High 15758.40
    • Yes­ter­day’s Low 15613.50

Sen­ti­ment

• LN open
  • Above Val­ue, With­in Range
• Open dis­tance to value
  • 0.06xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance. Slight con­tin­u­a­tion to H4 Bear­ish Inside Bar. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Return to Val­ue, probe of val­ue, VAH reversal,
• Hypo 2
  •  Val­ue Accep­tance (short), demand with­in val­ue, not good TP
• Hypo 3
  • Failed Auc­tion Long, after Hypo 2
• Hypo 4
  • Auc­tion Fade Long at H4 Demand

Addi­tion­al notes

• Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15732.18

ZOIs for Pos­si­ble Long

• H4-C‑D 15650.59
• 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

• Twit­ter
• Insta­gram