20210813 Premarket Prep DAX

13 Aug 20210813 Premarket Prep DAX

20210813 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 2021 Week 32 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price mak­ing new HH and trad­ing above last week’s body and range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Phase 2 con­tin­ued clos­ing near its high
  • H4 show­ing some slow­down in a H4 Bear Engulf.
• Trend: H4 Up, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 3/3
• Mar­ket Profile
  • An even wider val­ue was cre­at­ed above the previous
• Dai­ly Range
  • ADR: 10951
  • ASR: 10686
    • 2672
  • Day
    • Yes­ter­day’s High 15973.00
    • Yes­ter­day’s Low 15814.20

Sen­ti­ment

• LN open
  • Above Val­ue, With­in Range
• Open dis­tance to value
  • 0.05xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance. Open right on VAH and H4-C‑D 15936.62 in an uptrend. IB trad­ed up 0.39xASR tak­ing out new­ly formed H4 sup­ply. Since price is at an all-time high I am hes­i­tant to go in on a momen­tum move high­er. I would like a late-sus­tained auc­tion entry if per­mit­ted. Also the round num­ber of 16000 is not far above. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Sus­tained Auc­tion Up, prefer­ably a late-sus­tained auc­tion entry
• Hypo 2
  • Auc­tion Fade Short, vari­a­tion to Hypo 1
• Hypo 3
  • Failed Auc­tion Short
• Hypo 4
  • Val­ue Acceptance

Addi­tion­al notes

• Cap­i­tal Preser­va­tion Rule in effect

ZOIs for Pos­si­ble Shorts

• Not favored in equities

ZOIs for Pos­si­ble Long

• D1-C‑D 15756.47

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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