20220106 Premarket Prep DAX

06 Jan 20220106 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 week’s body and range and price is test­ing W1 sup­ply (almost took it out yesterday)

Sen­ti­ment

• LN open
  • 1.29xASR Below Val­ue, Out­side Range
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• Nar­ra­tive
  • Large to huge imbalance
  • D1 invert­ed ham­mer, pos­si­ble con­tin­u­a­tion although with big imbal­ance pos­si­ble for a D1 Three Out­side Down
  • Price still trad­ing with­in D1 QHi
  • H4 QHi reject­ed, price trad­ing mid swing and pre­mar­ket formed a H4 Bull­ish Inside Bar
  • Open quite near to ADR exhaus­tion high
  • Asia trad­ed low­er get­ting near to ADR exhaus­tion low
  • Trend change from 3/3 up to 2/3 up
  • Wide IBR
  • Prev. Day Exceed­ed ADR by 1.27
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Weak­ness From With­in IBR
• Hypo 2
  • Failed Auc­tion Long
• Hypo 3
  • Strength From With­in IBR
• Hypo 4
  • Late-sus­tained auc­tion down

Addi­tion­al notes

• NFP tomor­row

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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