20220117 Premarket Prep DAX

17 Jan 20220117 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:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Com­pared against Week­ly Trad­ing Plan

• Price trad­ing with­in last week’s body

Sen­ti­ment

• LN open
  • Open With­in Value
  • Bal­anc­ing market
• Mar­ket Profile
  • 3 over­lap­ping values
• Nar­ra­tive
  • Price trad­ing with­in D1 Sup­ply and Demand range at D1 QHi
  • H4 QHi reject­ed and price trad­ing mid swing
  • H4 Morn­ing Star cre­at­ed in pre­mar­ket tak­ing out sup­ply and IBR has already retraced and tak­en out new­ly formed H4 demand
  • D1 demand with­in val­ue at VAL
  • Trend is UP 3/3
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Short
  • Bal­anc­ing Mar­ket Reversal
  • Open With­in Val­ue, ADR 0.5 High as well D1 C‑sup right above VAH at H4 QHi
  • Pos­si­ble LTF rever­sal entry, mon­i­tor for Failed Auction
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion Entry, 
  • Price holds above val­ue, IB extension,
• Hypo 3
  • Long
  • Strength From With­in IBR
• Hypo 4
  • Long
  • Failed Auc­tion
• Hypo 5
  • Short
  • Weak­ness From With­in IBR

Addi­tion­al notes

• N.A.

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
• Insta­gram