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13 Oct 20211013 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:
The purpose of a premarket prep is to find setups within my weekly trade plan bias
Compared against Weekly Trading Plan
- Price is trading within last week’s body
![](https://www.bearmarkettrader.com/wp-content/uploads/2021/10/20211013-DAX-Premarket-Prep.png)
Non-conjecture observations of the market
- Price action
- D1 Bullish Inside bar with longer buying wick closing above D1 demand
- H4 consolidation with a possible RBR during Asia
- Trend: H4 Up, D1 Down, W1 Up
- Prevailing trend: MIXED Trend
- Market Profile
- 2‑day overlapping values.
- Daily Range
- ADR: 18122
- ASR: 15401
- 3531
- ASR Short:14406
- 3602
- Day
- Yesterday’s High 15180.30 at VAH
- Yesterday’s Low 15008.00
Sentiment
- LN open
- Within Value
- Open distance to value
- N.A.
- Narrative
- Balancing Market. IB traversed higher 0.62xASR closing above value. C extended and took out supply. Mixed trend but there could be a turning point in sentiment coming if the move is sustained.
- Clarity (1–5, 5 being best)
- 4
- Hypo 1
- Sustained Auction Up, value rejection
- Hypo 2
- Failed Auction Short
- Hypo 3
- Auction Fade Short
Additional notes
- N.A.
ZOIs for Possible Shorts
- Not favored in equities
- D1-C‑S 15207.29
ZOIs for Possible Long
- D1-C‑D 15126.29
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)
- Weekly Goal
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No early exits, either hit SL or 2R target
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
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