12 Jun DAX 2021 Week 24 Trading Plan
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This is my weekly outlook on DAX. The levels that I will be looking at with a higher probabilistic chance the market will start reacting. During the session I then wait for the market to hit those levels and either confirm or reject my bias through price action confirmation and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to people that are on the same path as me. So don’t be shy and reach out.
Monthly — Slightly Bullish
- MN Bull Engulf giving MN-C‑D 13694 and price made a an all-time high
Weekly — Slightly Bullish
- W1 Bull Engulf above W1-C‑D 15399.13 although demand has been tested multiple times, with continuation higher through a Bullish Hammer
Daily — Slightly Bullish
- D1 Bear Engulf giving D1-C‑S 15677.92 with slight continuation lower before forming a Morning star giving D1-C‑D 15591 before closing within D1-C‑S 15677.92 almost taking it out.
Sentiment summary — Slightly Bullish
- Price made an all-time high closing above last month’s range although monthly bar still has 2 weeks
- W1 Created demand and traded higher with no reversal sign yet
- Some sell off on D1 with no continuation. Instead a confident close higher within D1 Supply.
- June 15th
- Germany CPI
- June 17th, Fed Interest rates, EU CPI
ZOIs for Possible Shorts
- D1-C‑S 15677.92
ZOIs for Possible Long
- D1-C‑D 15591
- D1-C‑D 15472
- W1-C‑D 15399.13
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 13 trades by the end of the month
- Weekly Goal
- Min. 3 times working out at home + mandatory cardio
- Risk Management
- Without forcing a trade: aim to take 1 trade a day, if possible 2.
- Capital Preservation during drawdown allows for 1R profit-taking
- 2 consecutive days of lack of sleep = NO TRADING