#Fintwit #DAX #DE30Cash #MarketProfile #Orderflow
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 above body, outside range, within MN Base Supply Level
- MN QLo rejected, price trading mid swing
- W1
- Price trading took out W1 Supply trading above body, outside range, nearing W1-C‑S 14350.66
- Price trading within Wide W1 QLo
Narrative
- D1
- D1 RBR took out D1 Supply closing deep within W1/D1 QHi
- H4
- Price slowing down below W1 Supply trading deep within Wide W1/D1/H4 QHi
- Trend
- Trend is UP 3/3
- Market Profile
- Very Wide Value created in a 4 day bracketing range
- LN Open
- Prev. Day Exceeded ADR by 2.68
- 1.64xASR Above Value, Outside Range
- Huge Imbalance
- ASR / ADR exhaustion not far above
- Asia formed a Neutral Day but mostly traded higher
- 0.48xASR IBR
Additional Notes
- Possible Friday Profit-Taking
Hypos
- Hypo 1
- Short
- Reversal, Possible Failed Auction
- Hypo 2
- Short
- Late-Sustained Auction (huge Imbalance)
- Hypo 3
- Long
- Failed Auction, possible continuation
- Hypo 4
- Long
- Late-Sustained Auction
Clarity / Confidence (1 — 5, low to high)
- 2
Mindful Trading (lack of sleep?)
- Feeling okay
Focus Points for trading development
- Monthly Goals
- Use SL scaling