20210917 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 37 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 is retrac­ing last week’s body and is cur­rent­ly trad­ing within

Non-con­jec­ture obser­va­tions of the market

• Price action
  • 2nd long-legged doji on D1
  • Pos­si­ble H4 Phase 1
• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • 4‑day brack­et
• Dai­ly Range
  • ADR: 14346
  • ASR: 11766
    • 3000
  • Day
    • Yes­ter­day’s High 15745.60
    • Yes­ter­day’s Low 15634.40

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Open dis­tance to value
  • 0.23xASR
• Nar­ra­tive
  • Mod­er­ate Imbal­ance with an open above sen­ti­ment. IB took out sup­ply. There could be a probe of val­ue before con­tin­u­ing up.
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Long
• Hypo 2
  • Val­ue Accep­tance Short
• Hypo 3
  • Sus­tained Auc­tion down, vari­ant to Hypo 2 in case of a rotation. 
• Hypo 4
  • Auc­tion Fade Long,

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• H4-C‑S 15721.28

ZOIs for Pos­si­ble Long

• W1-C‑D 15664.00
• MN-C‑D 15585.83
• D1-C‑D 15548.18

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
• Week­ly Goal
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or 2R target
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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