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06 Oct 20221006 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 LL but is currently trading within body, above MN QLo
- W1
- Price is trading above body, above range, nearing W1-C‑S 12779.21, trading above MN/W1 QLo
Narrative
- D1
- D1 Hammer below D1 QHi
- Retracement to D1 Supply Base level
- H4
- H4 200MA in DT (and old H4 supply) coinciding with W1 Supply
- H4 Bull Engulf giving H4-C‑D 12587.24 High in Dist. Curve, price trading deeper within Wide H4 QHi
- H4 Bear Engulf at D1 QHi currently testing newly formed H4 demand High in Dist. Curve
- Trend
- Trend is Down 2/3
- Market Profile
- 2 overlapping values after UT
- LN Open
- Open Within Value
- Asia traded higher
- 0.30xASR IBR
- A closed above VAH
Additional Notes
- NFP tomorrow
Hypos
- Hypo 1
- Short
- Failed Auction
- Hypo 2
- Long
- Failed Auction
- Hypo 3
- Short
- Late-Sustained Auction
- 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