20211022 Premarket Prep DAX

22 Oct 20211022 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 42 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Price still trad­ing with­in last week’s body with a poten­tial devel­op­ing buy­ing tail rac­ing off W1 demand

Non-con­jec­ture obser­va­tions of the market

• Price action
  • Weak D1 Three Out­side Down with long buy­ing wick trad­ing below D1 QHi
  • H4 Bull Engulf clos­ing with­in H4 QHi
  • Poten­tial H4 Phase 1 / 3
• Trend: H4 Up, D1 Down, W1 Up
  • Pre­vail­ing trend: MIXED Trend
• Mar­ket Profile
  • 5‑day brack­et­ing range, last two days have wider values
• Dai­ly Range
  • ADR: 14221
  • ASR: 11985
    • 2996
  • ASR Short: 10218
    • 2555
  • Day
    • Yes­ter­day’s High 15532.30
    • Yes­ter­day’s Low 15397.70

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A.
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. Mul­ti-day brack­et. Pre­mar­ket took out D1 Sup­ply. IBR tra­versed high­er 0.89xASR indi­cat­ing pos­si­ble fur­ther respon­sive activ­i­ty. Price still trad­ing at H4/D1 QHi and test­ed D1 Sup­ply and start­ed reacting. 
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Weak­ness From With­in IBR
• Hypo 2
  • Failed Auc­tion Short
• Hypo 3
  • Sus­tained Auc­tion Down
• Hypo 4
  • Strength From With­in IBR

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 15588.27
• MN-C‑S 15561.74

ZOIs for Pos­si­ble Long

• W1-C‑D 15290.73

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) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

• Twit­ter
• Insta­gram