19 Oct DAX 2021 Week 42 Trading Plan
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This is my weekÂly outÂlook on DAX. The levÂels that I will be lookÂing at with a highÂer probÂaÂbilisÂtic chance the marÂket will start reactÂing. DurÂing the sesÂsion I then wait for the marÂket to hit those levÂels and either conÂfirm or reject my bias through price action conÂfirÂmaÂtion and order flow. I hope that makes sense. If not, please get in touch with me. I love to talk to peoÂple that are on the same path as me. So donât be shy and reach out.
MonthÂly â Bearish
- MN BearÂish EngulfÂing formed givÂing MN-CâS 15561.74
- Price made a LL and retraced to newÂly formed MN CâSup
WeekÂly â Bullish
- Price almost took out preÂviÂous W1 demand but reactÂed (coinÂcidÂing with W1 50MA in UT) and closed as a W1 Bull Engulf givÂing W1-CâD 15290.73
- Price retraced to a W1 Base SupÂply levÂel that coinÂcides with MN Câsup
DaiÂly â Bearish
- D1 Three OutÂside Down formed givÂing D1-CâS 15588.27
SenÂtiÂment sumÂmaÂry â Bearish
- MN price remains bearÂish until this month can close withÂin newÂly formed supply
- W1 formed a Bull Engulf retracÂing to a supÂply base levÂel indiÂcatÂing a posÂsiÂbilÂiÂty for a conÂtinÂuÂaÂtion to origÂiÂnatÂing levÂel at W1-CâS 15828.23
- D1 Phase 2 hitÂting newÂly formed MN Câsup and reactÂing could see a folÂlow-through first testÂing newÂly formed W1-CâD 15290.73. Upward bias in equiÂties sugÂgests a change in senÂtiÂment could be in the cards but needs price to confirm.
AddiÂtionÂal notes
- N.A.
ZOIs for PosÂsiÂble Shorts
- W1-CâS 15828.23
- D1-CâS 15694.72
- D1-CâS 15588.27
- MN-CâS 15561.74
ZOIs for PosÂsiÂble Long
- W1-CâD 15290.73
- D1-CâD 15125.75
Focus Points for tradÂing development
- MonthÂly Goals
- No momenÂtum trades on Non-Farm Fridays
- Total of 20 trades by the end of the month, preferÂably 2 a day (not in the same prodÂuct at the same time)
- WeekÂly Goal
- Use SL scalÂing in case the profÂit tarÂget for the setÂup doesnât proÂvide 2R for examÂple for FA or VAA setups
- âBust or TarÂgetâ: No earÂly exits, either hit SL or 2R target
- Risk ManÂageÂment
- 2 conÂsecÂuÂtive days of lack of sleep = NO TRADING