20220217 Premarket Prep DAX

17 Feb 20220217 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
  • Price testes devel­op­ing MN C‑Sup (coin­cid­ing with D1 C‑sup)
• 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
  • D1 react­ed off of D1 Sup­ply and closed as a Grave­stone Doji
  • Price breached yesterday’s low, pos­si­bly devel­op­ing a D1 Evening Star
• H4
  • H4 Three Out­side Down giv­ing H4-C‑S 15400.33 tak­ing out demand but with no con­tin­u­a­tion, instead a H4 Bull­ish Inside Bar
  • Price returned to H4 QHi
  • Pos­si­ble H4 Phase 1 / 3
• Trend
  • Mixed Trend
• Mar­ket Profile
  • 2 over­lap­ping val­ues indi­cat­ing a slowdown
• LN Open
  • 0.03xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbal­ance, although very slight mar­gin pos­si­ble ambigu­ous open
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed lower

Hypos

• Hypo 1
  • Long
  • Sus­tained Auc­tion, prefer­ably Val­ue Accep­tance and rota­tion, risky with new H4 sup­ply with­in value
• Hypo 2
  • Short
  • Return to Val­ue, Rever­sal, pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty

• 3

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