20220215 Premarket Prep DAX

15 Feb 20220215 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 7 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Pos­si­ble devel­op­ing MN Three Out­side Down although price is trad­ing with­in last month’s buy­ing range/wick (2 weeks left) and with­in MN demand
• W1
  • Last week closed as a near-Grave­stone Doji (longer sell­ing wick) clos­ing with­in W1 demand
  • Price trad­ing below last week’s body and range
  • Price almost took out W1 demand before react­ing and trad­ing high­er, still below last week’s body but with­in range

Nar­ra­tive

• D1
  • Bear Engulf clos­ing with­in D1 QLo but leav­ing a large buy­ing wick
  • Price cur­rent­ly test­ing new­ly formed supply
  • Prev. Day Exceed­ed ADR by 1.45
• H4
  • Price stut­ter­ing with­in D1 QLo
  • H4 demand formed and price test­ed and is react­ing off it
  • H4 QLo at VAH
• Trend
  • Trend is DOWN 2/3
  • Trend changed dur­ing IBR by break­ing H4 QHi to MIXED Trend
• Mar­ket Profile
  • Wide Val­ue cre­at­ed in a DT with price cur­rent­ly above
• LN Open
  • 0.09xASR Above Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day and pre­dom­i­nant­ly trad­ed down
  • 1.48xASR Wide IBR exhaust­ing ADR (coin­cid­ing with yes­ter­day high), near­by D1-C‑S 15356.43

Clar­i­ty

• 4

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR
• Hypo 3
  • Short
  • D1 C‑sup / ADR exhaus­tion Reversal
• Hypo 4
  • Long
  • Return to Val­ue, VAH Rever­sal, pos­si­ble Failed Auction

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
  • 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