DAX 2021 Week 51 Trading Plan

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.

Addi­tion­al notes

• N.A.

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
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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