20220111 Premarket Prep DAX

11 Jan 20220111 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 2 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 body and made a HH now trad­ing with­in range
• Last week closed as an invert­ed ham­mer cur­rent­ly trad­ing above its body but still with­in range although price reached for W1-C‑D 15685.89

Sen­ti­ment

• LN open
  • Open With­in Value
  • VAH and open just below H4-C‑S 15946.40
• Mar­ket Profile
  • Val­ues in DT
• Nar­ra­tive
  • Price trad­ed and closed below D1 QHi although some­what neutral
  • H4 Bear Engulf at H4/D1 QHi giv­ing H4-C‑S 15946.40 (coin­cid­ing with H4 VWAP)
  • Price react­ed off old H4 demand and formed a Bull­ish Inside Bar with con­tin­u­a­tion high­er cur­rent­ly trad­ing at H4 QHi / H4 supply
  • Trend is UP 2/3
  • Prev. Day Exceed­ed ADR by 1.48
  • Asia extend­ed higher
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Short
  • Failed Auc­tion
  • D1/H4 QHi / H4 sup­ply just above VAH, open with­in value
• Hypo 2
  • Long
  • Late-sus­tained auc­tion entry
  • Risky, price trad­ing right into H4 sup­ply, price would need to extend high­er and hold above IB prefer­ably tak­ing out LTF supply
• Hypo 3
  • Long
  • Failed Auc­tion
• Hypo 4
  • Short
  • Auc­tion Fade

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

• W1-C‑D 15685.89

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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