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21 Dec 20221221 Premarket Prep DAX
#Fintwit #DAX #DE30Cash #MarketProfile #Orderflow
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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 made a HH, trading at MN VWAP, within body, below MN Supply
- W1
- Price closed below Wide W1 QHi, made a LL, trading within body
Narrative
- D1
- D1 Hammer formed reacting off D1 LKC in UT failing to close within Wide W1/D1 QHi
- H4
- H4 VWAP in DT BO
- H4 Bear Engulf at W1/D1 QHi
- Trend
- Trend is UP 2/3
- Market Profile
- Value below the previous within overall range
- LN Open
- Prev. Day Exceeded ADR by 1.35
- 0.21xASR Above Value, Outside Range
- Moderate to Large Imbalance
- Asia traded higher
- 0.36xASR IBR trading lower testing VAH
- Round number 14000 right above
Additional Notes
- N.A.
Hypos
- Hypo 1
- Long
- Return to Value, Reversal, Possible Failed Auction
- Hypo 2
- Long
- Late-Sustained Auction, risky trading into QHi, preamble close above Asia high
- Hypo 3
- Short
- Reversal, Possible Failed Auction
- Hypo 4
- Short
- Auction Fade
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
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