17 Mar 20220317 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
Larger Timeframe
- MN
- Price trading below last month’s range and started reacting off MN QLo and MN Demand
- W1
- W1 reacted off W1 QLo and W1 demand closing as a Bullish Inside Bar (weekend overlap trading added)
- Price trading above last week’s body but still within range
Narrative
- D1
- Yesterday traded and closed higher
- Prev. Day Exceeded ADR by 1.22
- D1 VWAP in DT BO giving D1-C‑D 14000 taking out D1 Supply
- MN/W1/D1 QLo rejected
- H4
- H4 traded higher and is slowing down at D1-C‑S 14500 coinciding with H4 200MA
- Trend
- Trend is Down 2/3
- Market Profile
- Value had created value below the previous and now above the overall range
- LN Open
- 0.28xASR Above Value, Outside Range
- Moderate to Large Imbalance
- Asia formed a Neutral Day
Hypos
- Hypo 1
- Short
- Reversal, D1 Supply
- Hypo 2
- Long
- Return to Value, VAH Reversal,
- Hypo 3
- Long
- Late-Sustained Auction
- Hypo 4
- Long
- Auction Fade
Clarity
- 3
Additional notes
- N.A.
Mindful Trading (lack of sleep?)
- Feeling okay
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- No early exits, either hit SL or target
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
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