20220414 Premarket Prep DAX

14 Apr 20220414 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 15 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • MN QHi reject­ed price trad­ing mid swing
  • Pos­si­bly devel­op­ing a MN DBD
  • Price cur­rent­ly trad­ing below last month’s body, but still with­in range
• W1
  • Last week closed as a W1 Bear Engulf
  • W1 QLo reject­ed, price trad­ing mid swing
  • Price cur­rent­ly trad­ing below last week’s body and range made a LL but cur­rent­ly trad­ing with­in range

Nar­ra­tive

• D1
  • Weak D1 Bull Engulf above D1 QLo  giv­ing D1-C‑D 14080.19
• H4
  • Pos­si­ble H4 Phase 1
  • H4 sup­ply got tak­en out
  • H4 QLo rejec­tion, price trad­ing mid swing near­ing H4 QHi
• Trend
  • Strong DT
• Mar­ket Profile
  • Although tech­ni­cal­ly a brack­et­ing range is still in play two val­ues have been cre­at­ed along­side at the bot­tom of the range
• LN Open
  • 0.35xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia extend­ed and trad­ed higher
  • 0.29xASR Tight IBR

Addi­tion­al Notes

• Tomor­row Equi­ties and Met­als mar­ket closed

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion, could pos­si­bly mon­i­tor for a val­ue acceptance
• Hypo 2
  • Long
  • Late-Sus­tained Auc­tion, prefer­ably close above Asia which is hard because of a Bear Engulf in the way
• Hypo 3
  • Long
  • Return to Val­ue, VAH Reversal
• Hypo 4
  • Short
  • Auc­tion Fade

Clar­i­ty

• 2

Mind­ful Trad­ing (lack of sleep?)

• Still not feel­ing the sharpest. Was sick a few days. 

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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