13 Dec 20211213 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 of the Bull Engulf
Sentiment
- LN open
- Above Value, Within Range
- Open distance to value
- 0.07xASR
- Market Profile
- 2 overlapping values
- Narrative
- Mixed Trend
- Moderate imbalance
- M30 QHi rejected
- H4 Bull Engulf giving H4-C‑D 15603.28 (within value)
- Clarity (1–5, 5 being best)
- 4
- Hypo 1
- Return to Value, possible Failed Auction
- Hypo 2
- Value Acceptance
- Hypo 3
- Sustained Auction Long
- Hypo 4
- Auction Fade Long
- Hypo 5
- Strenght From Within IBR
Additional notes
- N.A
ZOIs for Possible Shorts
- Not favored in equities
- H4-C‑S 15823.75
ZOIs for Possible Long
- H4-C‑D 15603.28
- W1-C‑S 15398.00
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
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