20211122 Premarket Prep DAX

22 Nov 20211122 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 2021 Week 47 Trad­ing Plan

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

Com­pared against Week­ly Trad­ing Plan

• Pos­si­ble devel­op­ing MN Three Out­side Up
• Last week closed as an Invert­ed Ham­mer and price is trad­ing above last week’s body but still with­in range

Non-con­jec­ture obser­va­tions of the market

• Price action
  • D1 con­sol­i­da­tion and break down but D1-C‑D 16103.10 is show­ing some reaction
  • H4 Bull Engulf giv­ing H4-C‑D 16158.24
• Trend: H4 Down, D1 Up, W1 Up
  • Pre­vail­ing trend: Trend is UP 2/3
• Mar­ket Profile
  • Wide val­ue cre­at­ed below 2 pre­vi­ous over­lap­ping values
• Dai­ly Range
  • ADR: 10828
  • ASR: 8162
    • 2041
  • ASR Short: 7266
    • 1817
  • Day
    • Yes­ter­day’s High 16297.93
    • Yes­ter­day’s Low 16089.59

Sen­ti­ment

• LN open
  • Open With­in Value
• Open dis­tance to value
  • N.A. 
• Nar­ra­tive
  • Bal­anc­ing Mar­ket. Although the open was inside val­ue, the val­ue is quite wide. Trend changed from 3/3 to 2/3. Asia extend­ed to the upside. LN Range is 80+ again. H4 Bull Engulf with an Inside Bar formed in per­mar­ket. Friday’s ADR exceed­ed ADR by 1.96. ADR exhaus­tion below new­ly formed D1-C‑S 16250.36.
• Clar­i­ty (1–5, 5 being best)
  • 4
• Hypo 1
  • Failed Auc­tion Long
• Hypo 2
  • Failed Auc­tion Short, 
• Hypo 3
  • Rever­sal at D1 C‑sup
• Hypo 4
  • Late-sus­tained auc­tion short
• Hypo 5
  • Auc­tion Fade Long

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• Not favored in equities
• D1-C‑S 16250.36

ZOIs for Pos­si­ble Long

• H4-C-D16158.24
• D1-C‑D 16103.10

Mind­ful Trad­ing (lack of sleep?)

• Feel­ing Okay

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or 2R target
  • 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