DAX 2021 Week 37 Trading Plan

11 Sep DAX 2021 Week 37 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 — Bullish

• Last month closed high­er form­ing a Bull Engulf (RBR) giv­ing MN-C‑D 15585.83 hav­ing made an all-time high
• Price retraced last month’s body back to MN-C‑D 15585.83

Week­ly — Bearish

• W1 DBD with con­tin­u­a­tion down clos­ing with­in W1-C‑D 15664.00 just below W1 VWAP in UT

Dai­ly — Bearish

• D1 Bear­ish Inside Bar to Three Inside Down (reject­ing D1 QHi) with con­tin­u­a­tion down
• Pos­si­ble tran­si­tion to D1 Phase 4 break­ing below over­all range arriv­ing at D1-C‑D 15548.84 although price failed to close with­in demand

Sen­ti­ment sum­ma­ry — Slight­ly Bearish

• MN has retraced to new­ly formed demand and could see buy­ers com­ing in
• W1 trad­ed down clos­ing with­in W1 demand with no rever­sal as of yet
• D1 QHi reject­ed with price cur­rent­ly trad­ing mid swing. Price closed below over­all range indi­cat­ing a pos­si­ble fur­ther sell off although price is trad­ing at a demand lev­el so there could be some reac­tion com­ing in from the buy­ers. If price can reject­ed these lev­el the sen­ti­ment turns back to bullish. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 15966.51
• W1-C‑S 15830.15

ZOIs for Pos­si­ble Long

• W1-C‑D 15664.00
• MN-C‑D 15585.83
• D1-C‑D 15548.84
• W1-C‑D 15394.53

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, lat­est cut-off 1:30 Lon­don time
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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