20220114 Premarket Prep DAX

14 Jan 20220114 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 and is cur­rent­ly trad­ing below W1 sup­ply and start­ed reacting
  • Price is cur­rent­ly trad­ing with­in last week’s body

Sen­ti­ment

• LN open
  • 0.39xASR Below Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
• Mar­ket Profile
  • 2 over­lap­ping values
• Nar­ra­tive
  • D1 Bear Engulf clos­ing below D1 QHi giv­ing D1-C‑S 15997.29 although price did not close with­in the pre­vi­ous demand formed by a D1 Bull Engulf
  • H4 QHi reject­ed and price is trad­ing mid swing
  • H4 Bull­ish Inside Bar at D1 demand has been formed with a longer sell­ing wick, although with a longer sell­ing wick
  • 0.66xASR wide IBR, pos­si­ble respon­sive activity
  • Trend is UP 3/3
• Clar­i­ty (1–5, 5 being best)
  • 3
• Hypo 1
  • Long
  • Strength From With­in IBR, mon­i­tor for val­ue accep­tance, risky due to D1 sup­ply with­in val­ue, D1 demand nearby
• Hypo 2
  • Short
  • Return to Val­ue, VAL rever­sal, pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Short 
  • Auc­tion Fade Short

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• W1-C‑S 16102.51
• D1-C‑S 15997.29

ZOIs for Pos­si­ble Long

• D1-C‑D 15907.25
• W1-C‑D 15685.89

Mind­ful Trad­ing (lack of sleep?)

• Didn’t sleep well, will need to be care­ful. Only trade after C TPO (if any)

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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