DAX 2021 Week 43 Trading Plan

23 Oct DAX 2021 Week 43 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‑S 15561.74
• Price made a LL and retraced to new­ly formed MN C‑Sup

Week­ly — Bullish

• Price almost took out pre­vi­ous W1 demand but react­ed (coin­cid­ing with W1 50MA in UT) and closed as a W1 Bull Engulf giv­ing W1-C‑D 15290.73
• Price retraced to a W1 Base Sup­ply lev­el that coin­cides with MN C‑sup
• Last week closed as a pos­si­ble base with longer buy­ing wick above pre­vi­ous W1 Sup­ply base level

Dai­ly — Bullish

• After a flim­sy D1 Three Out­side Down a Bull Engulf formed giv­ing D1-C‑D 15499.30 clos­ing with­in D1 QHi but below D1-C‑S 15588.27

Sen­ti­ment sum­ma­ry — Bullish

• Price is test­ing new­ly formed MN C‑Sup. Still a pos­si­bil­i­ty for sell­ers to come in as there is anoth­er week left in the month
• W1 returned to a base sup­ply lev­el indi­cat­ing a pos­si­ble con­tin­u­a­tion to orig­i­nat­ing lev­el at W1-C‑S 15828.23. The pos­si­ble for­ma­tion of a base fol­low­ing the Bull Engulf fur­ther implies the same narrative.
• D1  attempt­ed a rejec­tion of D1 QHi but failed to fol­low-through. Instead a Bull Engulf clos­ing with­in QHi.

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 15828.23
• D1-C‑S 15694.72
• D1-C‑S 15588.27
• MN-C‑S 15561.74

ZOIs for Pos­si­ble Long

• D1-C‑D 15499.30
• W1-C‑D 15290.73
• D1-C‑D 15125.75

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) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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