21 Mar 20220321 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
- MN Three Outside Down with price currently trading right below last month’s body after reacting off MN demand and QLo
- W1
- W1 Three Inside Up rejecting W1 QLo with price trading within last week’s body
- Possible V‑shaped correction
Narrative
- D1
- D1 Consolidation below D1-C‑S 14500
- D1 QLo rejection
- H4
- Possible H4 Phase 1 / 3 at H4 200MA in DT
- Trend
- Trend is Down 2/3
- Market Profile
- 2 overlapping values
- LN Open
- Open Within Value
- 0.15xASR Tight IBR
- Asia extended and traded down
Hypos
- Hypo 1
- Short
- Failed Auction, possible 3‑I Day
- Hypo 2
- Long
- Auction Fade
- Hypo 3
- Long
- Late-Sustained Auction, possible Strength From Within IBR
- Hypo 4
- Short 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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