20220520 Premarket Prep DAX

20 May 20220520 Premarket Prep DAX

#Fin­twit #DAX #DE30Cash

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 20 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price made a LL and is cur­rent­ly trad­ing with­in body
• W1
  • W1 Bull Engulf reject­ing W1 QLo, price test­ed new­ly formed demand
  • Price made a HH

Nar­ra­tive

• D1
  • D1 Bear Engulf reject­ing D1 QHi fol­lowed by an Inside Bar with longer buy­ing wick
  • Price cur­rent­ly test­ing new­ly formed sup­ply (Old D1 sup­ply test­ed mul­ti­ple times)
  • Prev. Day Exceed­ed ADR by 1.02
• H4
  • H4 Bull Engulf reject­ing H4 QLo giv­ing H4-C‑D 13951.11
  • Price con­tin­ued high­er tak­ing out H4 sup­ply form­ing a RBR
• Trend
  • Mixed Trend
• Mar­ket Profile
  • Wide val­ue cre­at­ed overex­tend­ed below, price trad­ing with­in over­all range
• LN Open
  • 1.02xASR Above Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia trad­ed higher
  • 0.62xASR Wide IBR

Addi­tion­al Notes

• Pos­si­ble Fri­day profit-taking
• NY wider than LN

Hypos

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Strength From With­in IBR, Late-Sus­tained Auction
• Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Hypo 4
  • Short
  • Rever­sal, Auc­tion Fade, pos­si­bly at H4 QHi / ASR Exhaustion

Clar­i­ty

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Either hit SL or tar­get, reassess after Trad­ing Win­dow Close
  • 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

• Twit­ter
• Insta­gram