13 Dec DAX 2021 Week 51 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
- An all-time high was made and then the month closed as a MN DBD giving MN-C‑S 15241 with longer selling wick
- Price probed above last month’s body an is still trading within MN Supply
Weekly — Neutral
- Last week closed as a W1 Bull Engulf giving W1-C‑D 15322, but price still within a range
- Possible W1 Phase 1/3
Daily — Neutral
- Price traded higher with no immediate follow-through. Instead price pulled back through a D1 Three Inside Down.
- D1 QLo rejected and price trading mid swing
Sentiment summary — Bearish
- MN hasn’t closed yet and even though last month closed as a MN DBD there might be some consolidation going on
- W1 price is trading within a range and made a bull engulf at the bottom of the range. There might be a re-test of newly formed W1 demand before testing higher within the range.
- D1 rejected QLo and has not (yet) arrived at QHi. There’s some slowdown in the middle of the swing.
ZOIs for Possible Shorts
- W1-C‑S 16102
ZOIs for Possible Long
- W1-C‑D 15322
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- Total of 15 trades by the end of the month, can take 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
- Keep trade review comments short
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING