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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
Non-conjecture observations of the market
- Trend: H4 Up, D1 Down, W1 Up
- Prevailing trend: Mixed Trend
- Market Profile
- 4‑Day bracketing range
- Daily Range
- ADR: 26449
- ASR: 19753
- 4938
- ASR Short: 16697
- 4174
- Day
- Yesterday’s High 15421.20
- Yesterday’s Low 15146.80
Compared against Weekly Trading Plan
- Demand seems to be reacting as price is trading above last week’s body but still within range. Trading above W1 demand.
Sentiment
- LN open
- Above Value, Outside Range
- Open distance to value
- 1.1xASR
- Narrative
- D1 Three Inside Up giving D1-C‑D 15245.66 (within value), D1 Supply still intact although some supply got taken out.
- Price made a H4 RBR giving H4-C‑D 15295.35 and price trading within H4 QHi (above H4 50MA in DT)
- Large Imbalance at the open
- Prev. Day Exceeded ADR by 1.03
- Asia climbed higher taking out D1 supply
- 0.5xASR to ADR Exhaustion High
- Price trading into D1 VWAP in DT
- Mixed Trend
- Clarity (1–5, 5 being best)
- 4
- Hypo 1
- Mean Reversion, sustained auction short
- Hypo 2
- ADR exhaustion reversal, possible failed auction short
- Hypo 3
- Return to Value, reversal at LTF demand or value edge
- Hypo 4
- Sustained Auction Long, possible strength from within IBR
Additional notes
- N.A
ZOIs for Possible Shorts
- Not favored in equities
ZOIs for Possible Long
- W1-C‑S 15398.00
- H4-C‑D 15295.35
Mindful Trading (lack of sleep?)
- Feeling Okay
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 15 trades by the end of the month, can take 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