05 Aug 20220805 Premarket Prep DAX

#Fin­twit #DAX #DE30Cash #Mar­ket­Pro­file #Order­flow

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 31 Trad­ing Plan

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

Larg­er Timeframe

• MN
  • Price trad­ing above body and range hav­ing made a HH
• W1
  • Price trad­ing above body and range hav­ing made a HH
  • W1 QLo reject­ed, price trad­ing mid swing
  • Price trad­ing at W1 VWP in DT

Nar­ra­tive

• D1
  • Price took out D1 Sup­ply and closed as an Invert­ed Hammer
  • D1 QLo (shar­ing same lev­els as W1 QLo) reject­ed, price trad­ing mid swing
  • PRice trad­ing above D1 UKC in DT
• H4
  • H4 Bear­ish Inside Bar after tak­ing out D1 Sup­ply with no imme­di­ate con­tin­u­a­tion, instead some con­sol­i­da­tion and close with­in new­ly formed Supply.
• Trend
  • Trend is Up 2/3
• Mar­ket Profile
  • Val­ue cre­at­ed above the pre­vi­ous over­all range
• LN Open
  • Prev. Day trad­ed 0.96xADR, pos­si­ble momentum
  • 0.15xASR Below Val­ue, With­in Range
  • Mod­er­ate Imbalance
  • Asia formed a Neu­tral Day and most­ly trad­ed sideways
  • 0.33xASR IBR
  • Dur­ing B TPO M15 closed at VAL not con­fi­dent­ly accept­ing val­ue, although price popped some LTD sup­ply at VAL

Addi­tion­al Notes

• NFP today

Hypos

• Hypo 1
  • Long
  • Val­ue Accep­tance, risky with sup­ply with­in val­ue, NFP later
• Hypo 2
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Sus­tained Auc­tion, NFP later
• Hypo 4
  • Long
  • Auc­tion Fade

Clar­i­ty / Con­fi­dence (1 — 5, low to high)

• 3

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing okay

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram