20211014 Premarket Prep DAX

14 Oct 20211014 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 41 Trad­ing Plan

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 made a HH

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 Three Out­side Up tra­vers­ing 1.09xASR
  • H4 Phase 2 arriv­ing at H4 QLo with no reac­tion (yet)
  • H4-C‑D 15254.72 BASE cre­at­ed with­in value
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: MIXED Trend
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous at the top of the over­all range
• Dai­ly Range
  • ADR: 17384
  • ASR: 16121
    • 4030
  • ASR Short:14826
    • 3707
  • Day
    • Yes­ter­day’s High 15302.20
    • Yes­ter­day’s Low 15109.00

Sen­ti­ment

• LN open
  • Above Val­ue, Out­side Range
• Open dis­tance to value
  • 0.46xASR
• Nar­ra­tive
  • Mod­er­ate to large imbal­ance. Price opened above yesterday’s high. IBR tra­versed down return­ing to LTF demand above VAH coin­cid­ing with yesterday’s high. Yes­ter­day exceed­ed ADR slight­ly by 1.09xADR which could war­rant a pull­back. Still a mixed trend. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Return to Val­ue, LTF above val­ue edge reversal
• Hypo 2
  •  Sus­tained Auc­tion Up
• Hypo 3
  •  Failed Auc­tion Short
• Hypo 4
  • Auc­tion Fade Short (risky)

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities

ZOIs for Pos­si­ble Long

• D1-C‑D 15126.29

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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