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16 Dec 20211216 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
Compared against Weekly Trading Plan
- Price trading above last week’s body but still within range
![](https://www.bearmarkettrader.com/wp-content/uploads/2021/12/20211216-DAX-Premarket-Prep.png)
Sentiment
- LN open
- ABove Value, Outside Range
- Open distance to value
- 1.41xASR
- Market Profile
- Value created below the previous with price currently trading above
- Narrative
- Huge Imbalance, could see a continuation to the move
- D1 Bull Engulf giving D1-C‑D 15627.52 and price currently trading above body and range
- H4 Phase 2 with price trading within D1 supply arriving at H4 QHi
- Prev. Day Exceeded ADR by 1.09
- Trend change: Mixed trend
- ADR exhaustion not far above open
- Price opened above yesterday’s high
- Asia formed a Neutral Day but after extending down predominantly trading higher
- Possible developing H4 base
- Clarity (1–5, 5 being best)
- 4
- Hypo 1
- Mean Reversion, Sustained Auction Down
- Hypo 2
- ADR exhaustion Reversal, possible Failed Auction Short
- Hypo 3
- Late-Sustained Auction Up
- Hypo 4
- Auction Fade Long
Additional notes
- N.A
ZOIs for Possible Shorts
- Not favored in equities
- D1-C‑S 15702.98
- D1-C‑S 15671.13
ZOIs for Possible Long
- D1-C‑D 15627.52
- W1-C‑S 15398.00
Mindful Trading (lack of sleep?)
- Feeling Okay
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 15 trades by the end of the month, can take 2 a day (not in the same product at the same time)
- No early exits, either hit SL or 2R target
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- Process
- Keep trade review comments short
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
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