21 Sep DAX 2021 Week 38 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 BASE level and is trading deep within demand, almost taking it out. No close yet.
Weekly — Bearish
- Possible W1 Phase 4 after a test of W1-C‑S 15830.15 and closed down
Daily — Bearish
- D1 QHi rejected and is trading mid swing
- Yesterday price closed down and arrived at D1 QLo, and D1-C‑D 15125.15 (coinciding with D1 200MA)
Sentiment summary — Bearish
- MN price almost took out demand after price has returned to a base level indicating a potential for a continuation. Price has not taken out MN demand (yet)
- On W1 Price closed below W1 VWAP in UT arriving at a big W1 demand currently trading within with no reversal (yet).
- Price reached D1 QLo, D1-C‑D 15125.15 coinciding with D1 200MA in UT although price has not rejected this level (yet) it is a higher probability for equities to reverse and trade higher and change the sentiment to Bullish.
- Sep 23, 02:00, USD, Fed Interest Rate Decision
ZOIs for Possible Shorts
- D1-C‑S 15696.82
ZOIs for Possible Long
- MN-C‑D 15585.83
- W1-C‑D 15394.53
- D1-C‑D 15125.15
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