Premarket Prep DE30 DAX 08272020

27 Aug Premarket Prep DE30 DAX 08272020

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This is my pre­mar­ket prep for today’s Euro­pean ses­sion for DE30 DAX. This prep builds off of my week­ly trade plan I made here:

DE30 DAX Week 35 Trad­ing Plan

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

Non-con­jec­ture obser­va­tions of the market

• D1 RBR (D1-C‑D 13098.56 BASE) price trad­ing with­in over­head supply
• Mar­ket Profile
  • mul­ti ‑day bracketing
  • ADR: 20198
  • ASR: 17203
  • Ses­sion
    • High 13262.36
    • Low 13006.60
    • Price with­in ses­sion range
  • Loca­tions
    • D1-C‑D 13098.56 BASE line in the sand with­in value

Com­pared against Week­ly Trad­ing Plan

• Trad­ing with­in W1 sup­ply phase 3 range
• Trad­ing with­in MN supply
• With­in D1 QHi

Sen­ti­ment

• Sen­ti­ment
  • LN open
    • Above val­ue, out­side range
  • Open dis­tance to val­ue: 0.4x ASR
  • IB
    •  M30 Bear Engulf return to val­ue, B pos­si­ble bounce of VAH
  • Sen­ti­ment
    • Bull­ish if B clos­es as a bull Engulf, with being inside yesterday’s range could be a good oppor­tu­ni­ty. Low­er time frame sup­plies made out­side RTH so not as important.
• Clar­i­ty (1–5, 5 being best)
  • 2
• Hypo 1 — Long
  • Return to val­ue, IB exten­sion up
• Hypo 2 — Short (unsafe)
  • Val­ue Acceptance

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 13131.34

ZOIs for Pos­si­ble Long

• D1-C‑D 13098.56 BASE

Mind­ful Trading

• Slept okay

Focus Points for trad­ing development

• Week­ly Goal
  • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
  • Incor­po­rate pro­file day type
• Trad­ing Rules
  • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR 
  • Don’t take into con­sid­er­a­tion medi­um time frame c‑lines past 24 hours
  • FX with­in val­ue > DAX
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING