20220216 Premarket Prep DAX

16 Feb 20220216 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
  • Price cur­rent­ly trad­ing above last week’s body but with­in sell­ing wick/range

Nar­ra­tive

• D1
  • Big Bull Engulf cre­at­ed giv­ing D1-C‑D 15207.04, clos­ing with­in D1-C‑S 15356.43
  • D1 QLo rejected
  • Prev. Day Exceed­ed ADR by 1.46
• H4
  • Price slow­ing down with­in H4 QHi / D1 Supply
  • Price trad­ing at H4 UKC in DT
  • OLD H4 Sup­ply got tak­en out
• Trend
  • Trend Change from Down 2/3 to MIXED Trend
• Mar­ket Profile
  • Val­ue cre­at­ed above the previous
• LN Open
  • 0.17xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Yesterday’s high near­by VAH
  • D1 Sup­ply right above
  • Asia extend­ed higher
  • 0.62xASR Wide IBR, price closed above Asia

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Return to Val­ue, VAH Rever­sal, pos­si­ble Failed Auc­tion, pos­si­ble Strength From With­in IBR
• Hypo 3
  • Short
  • Weak­ness From With­in Val­ue, to Val­ue Accep­tance, Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 4

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