DAX 2021 Week 44 Trading Plan - Bear Market Trader
day trade, day trading, trade plan, trading plan, DAX, DE30, DE20Cash, traderlifestyle, daytraderlife, weekly trading plan,

DAX 2021 Week 44 Trading Plan

DAX 2021 Week 44 Trading Plan

#Fin­twit #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices #DAX #DE30Cash

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. 

Click to Enlarge

Month­ly — Bullish

  • MN Bear Engulf with no con­tin­u­a­tion. Instead a Bull­ish Inside Bar clos­ing with­in new­ly formed MN Supply

Week­ly — Bullish

  • W1 Bull Engulf with con­tin­u­a­tion through RBR giv­ing W1-C‑D 15590.83 BASE
  • Price closed slight­ly below W1-C‑S 15823.56

Dai­ly — Bullish

  • Test of D1-C‑D 15499.30 leav­ing a long buy­ing wick and clos­ing high­er giv­ing D1-C‑D 15697.65 just below D1 QHi
  • Price pro­ceed­ed to take out D1 sup­ply and is now trad­ing at W1 Supply

Sen­ti­ment sum­ma­ry — Bullish

  • MN clos­ing against a Bear Engulf form­ing a Bull­ish Inside Bar could be a strong bull­ish sign although sup­ply has not been tak­en out (yet) so expect the pos­si­bil­i­ty for sell­ers to step in.
  • W1 Base demand formed. If price retraces to the Base lev­el there might first be a move down to orig­i­nat­ing lev­el of W1-C‑D 15290.73
  • Pos­si­ble D1 Phase 2 clos­ing with­in D1 QHi arriv­ing at W1 sup­ply (above D1 UKC in DT). No reac­tion (yet).

Addi­tion­al notes

  • Nov 02, 18:20, EUR, ECB Elder­son Speech 
  • Nov 03, 17:15, EUR, ECB Pres­i­dent Lagarde Speech 
  • Nov 04, 02:00, USD, Fed Inter­est Rate Decision
  • Nov 05, 15:30, EUR, ECB De Guin­dos Speech 
  • Nov 05, 20:30, USD, Non Farm Pay­rolls (Oct)

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 15828.23
  • MN-C‑S 15561.74

ZOIs for Pos­si­ble Long

  • W1-C‑D 15590.83 BASE
  • D1-C‑D 15499.30
  • W1-C‑D 15290.73

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


Day trader. Tech geek. Sim Racing Enthusiast.

No Comments

Post A Comment