20220104 Premarket Prep DAX

04 Jan 20220104 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 2022 Week 1 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 range, just below W1-C‑S 16102.51

Sen­ti­ment

• LN open
  • 0.18xASR Above Val­ue, With­in Range
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous range
• Nar­ra­tive
  • Trend is up 3/3
  • D1 Bear Engulf at D1 QHi (on 1st test) with no fol­low-through, instead a D1 Three Inside Up giv­ing D1-C‑D 15850.32
  • Price trad­ing with­in D1/H4 QHi
  • Prev. Day Exceed­ed ADR by 1.16
  • Yes­ter­day ses­sion high near VAH
  • Mod­er­ate Imbalance
  • H4 con­sol­i­da­tion below W1 sup­ply and did broke high­er although in pre­mar­ket and thus might be a fake-out. M15 can­dle already accept­ed val­ue but with open sen­ti­ment and demand with­in val­ue this is risky to go short
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Return to Val­ue, Rever­sal Long
• Hypo 2
  • Val­ue Accep­tance Short
• Hypo 3
  • Failed Auc­tion Short
• Hypo 4
  • Late-sus­tained auc­tion long

Addi­tion­al notes

• N.A

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 16250
• W1-C‑S 16102.51

ZOIs for Pos­si­ble Long

• D1-C‑D 15850.32
• D1-C‑D 15393.40

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing Okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 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
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