27 Aug Premarket Prep DE30 DAX 08272020
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This is my premarket prep for today’s European session for DE30 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.
Non-conjecture observations of the market
- D1 RBR (D1-C‑D 13098.56 BASE) price trading within overhead supply
- Market Profile
- multi ‑day bracketing
- ADR: 20198
- ASR: 17203
- Session
- High 13262.36
- Low 13006.60
- Price within session range
- Locations
- D1-C‑D 13098.56 BASE line in the sand within value
Compared against Weekly Trading Plan
- Trading within W1 supply phase 3 range
- Trading within MN supply
- Within D1 QHi
Sentiment
- Sentiment
- LN open
- Above value, outside range
- Open distance to value: 0.4x ASR
- IB
- M30 Bear Engulf return to value, B possible bounce of VAH
- Sentiment
- Bullish if B closes as a bull Engulf, with being inside yesterday’s range could be a good opportunity. Lower time frame supplies made outside RTH so not as important.
- LN open
- Clarity (1–5, 5 being best)
- 2
- Hypo 1 — Long
- Return to value, IB extension up
- Hypo 2 — Short (unsafe)
- Value Acceptance
Additional notes
- N.A.
ZOIs for Possible Shorts
- D1-C‑S 13131.34
ZOIs for Possible Long
- D1-C‑D 13098.56 BASE
Mindful Trading
- Slept okay
Focus Points for trading development
- Weekly Goal
- Formulate hypos in order of likelihood and track with actual development on the day
- Incorporate profile day type
- Trading Rules
- If Open outside of value consider the placement in relation to ADR
- Don’t take into consideration medium time frame c‑lines past 24 hours
- FX within value > DAX
- Risk Management
- 3 trades 1% risk, 3rd trade only if first 2 worked out
- 2 consecutive days of lack of sleep = NO TRADING
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