20220512 Premarket Prep DAX

12 May 20220512 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 19 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • MN DBD
  • Price made a LL and is cur­rent­ly trad­ing below body but ducked back with­in range
• W1
  • Pos­si­ble W1 Phase 4
  • Price made a LL and is cur­rent­ly trad­ing below body but ducked with­in range
  • Price trad­ing with­in W1 demand
  • Price trad­ing at W1 QLo

Nar­ra­tive

• D1
  • Weak D1 Three Out­side Up giv­ing D1-C‑D 13585.52 at W1 QLo
  • D1 QHi reject­ed, price trad­ing mid swing
• H4
  • H4 QHi rejected
  • H4 DBD giv­ing H4-C‑S 13666.15 BASE
• Trend
  • Mixed Trend, Down, Up, Down
• Mar­ket Profile
  • 3 over­lap­ping val­ues after DT
• LN Open
  • 0.15xASR Below Val­ue, With­in Range
  • Asia extend­ed and trad­ed down
  • 0.84xASR Wide IBR
  • B TPO accept­ed val­ue, con­ges­tion at VAH as well as ASR exhaustion

Addi­tion­al Notes

• N.A.

Hypos

• Hypo 1
  • Short
  • Weak­ness From With­in IBR
• Hypo 2
  • Short
  • Failed Auc­tion
• Hypo 3
  • Long
  • Val­ue Acceptance
• Hypo 4
  • Long
  • Strength From With­in IBR

Clar­i­ty

• 2

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay but will take it easy

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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