20220105 Premarket Prep DAX

05 Jan 20220105 Premarket Prep DAX

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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 month’s / week’s body and range
• Price trad­ing with­in W1 supply

Sen­ti­ment

• LN open
  • Ambigu­ous open although 0.05xASR Above Val­ue, Out­side Range
• Mar­ket Profile
  • Wide val­ue cre­at­ed yes­ter­day slight­ly over­lap­ping the pre­vi­ous high
• Nar­ra­tive
  • D1 Phase 2
  • Price trad­ing deep­er with­in D1 QHi with no test of D1-C‑S 16250 (yet)
  • Trend is UP 3/3
  • Price trad­ing at old H4 supply
  • Asia trad­ed high­er after trad­ing down form­ing a Neu­tral Day
  • Mod­er­ate Imbalance
  • Prev. Day Exceed­ed ADR by 1.07, pos­si­ble momen­tum behind the move
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Return to Val­ue, VAH rever­sal long, pos­si­ble Failed Auc­tion Long
• Hypo 2
  • Sus­tained Auc­tion Long
• Hypo 3
  • Val­ue Acceptance
• Hypo 4
  • Auc­tion Fade Short

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

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