DAX 2021 Week 41 Trading Plan

12 Oct DAX 2021 Week 41 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 — Bearish

• MN Bear­ish Engulf­ing formed giv­ing MN-C‑D 15555.36
• Price is cur­rent­ly trad­ing below body and with­in range after hav­ing made a LL

Week­ly — Bearish

• W1 closed low­er as a Ham­mer react­ing off W1 50MA in UT almost tak­ing out W1-C‑D 15397.59

Dai­ly — Bearish

• D1 con­sol­i­da­tion with Bull Engulf fin­ish­er with no fol­low-through. Instead a Three Out­side Down giv­ing D1-C‑S 15207.29 with con­tin­u­a­tion down.
• 1 test of new­ly formed sup­ply and price closed with­in D1-C‑D 15126.29 and D1 QLo

Sen­ti­ment sum­ma­ry — Bearish

• MN price made a LL fol­low­ing the Bear Engulf
• W1 closed deep­er with­in W1 demand almost tak­ing the demand out
• New­ly formed D1 got test­ed once and closed with a long sell­ing wick down with­in D1 demand and D1 QLo. 
• Price is still trad­ing with­in D1/W1 demand and with an upwards bias of equi­ties longs could still be in play.

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 15207.29

ZOIs for Pos­si­ble Long

• W1-C‑D 15397.59
• D1-C‑D 15126.29

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
  • ‘Bust or Tar­get’: No ear­ly exits, either hit SL or 2R target
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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