![](https://www.bearmarkettrader.com/wp-content/uploads/2021/09/20210914-DAX-Premarket-Prep.png?v=1631607131)
14 Sep 20210914 Premarket Prep DAX
#Fintwit #Orderflow #daytrading #daytrade #forex #FX #tradeplan #tradingplan #tradingforex #tradinglifestyle #daytraderlife #index #indices #DAX #DE30Cash
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 trading within last week’s body above W1 VWAP
![](https://www.bearmarkettrader.com/wp-content/uploads/2021/09/20210914-DAX-Premarket-Prep.png)
Non-conjecture observations of the market
- Price action
- D1 Returned to D1 QHi traversing 1.47xADR
- H4 Inside Bar at D1 QHi with no continuation down instead a BUll Engulf closing within newly formed supply.
- Trend: H4 Down, D1 Up, W1 Up
- Prevailing trend: Trend is UP 2/3
- Market Profile
- Value formed right on top of the preceding one
- Daily Range
- ADR: 16084
- ASR: 13876
- 3500
- Day
- Yesterday’s High 15787.60
- Yesterday’s Low 15554.50
Sentiment
- LN open
- Below Value, Within Range
- Open distance to value
- 0.07xASR
- Narrative
- Moderate Imbalance. Yesterday exceeded ADR by 1.47. Asia completed a H4 Three Inside Down below D1 QHi. There might be more downside before a continued move higher.
- Clarity (1–5, 5 being best)
- 4
- Hypo 1
- Value Acceptance
- Hypo 2
- Sustained Auction, variation to Hypo 1,
- Hypo 3
- Failed Auction Short
- Hypo 4
- Auction Fade Short, variation to Hypo 1/2 (risky)
Additional notes
- N.A.
ZOIs for Possible Shorts
- Not favored in equities
- H4-C‑S 15721.28
ZOIs for Possible Long
- W1-C‑D 15664.00
- MN-C‑D 15585.83
- D1-C‑D 15548.18
Mindful Trading (lack of sleep?)
- Feeling okay
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 20 trades by the end of the month, preferably 2 a day (not in the same product at the same time)
- Weekly Goal
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- No early exits, either hit SL or 2R target
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
No Comments