DAX 2022 Week 17 Trading Plan - Bear Market Trader
day trade, day trading, trade plan, trading plan, DAX, DE30, DE20Cash, traderlifestyle, daytraderlife, weekly trading plan,

DAX 2022 Week 17 Trading Plan

DAX 2022 Week 17 Trading Plan

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

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, 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 — Bearish

  • Last month made a LL but closed as an Inside Bar with very long buy­ing wick react­ing off MN QLo and MN-C‑D 12765.57
  • Price trad­ing below last month’s body but with­in range

Week­ly — Bearish

  • Price test­ed new­ly formed W1-C‑S 14351.53 and closed down leav­ing a longer sell­ing wick
  • Price failed to make a LL
  • Price com­ing from W1 QLo rejection

Dai­ly — Bearish

  • D1 Three Out­side Down reject­ing D1 QHi clos­ing with­in D1-C‑D 14080.19
  • Pos­si­ble D1 Phase 1 / 3
  • Price trad­ing around D1 50MA in DT

Sen­ti­ment sum­ma­ry — Bearish

  • MN is pos­si­bly devel­op­ing a MN DBD, although the long buy­ing wick could push price high­er form­ing a con­sol­i­da­tion or even a Morn­ing Star. One week left in the month.
  • W1 con­sol­i­da­tion and break down with last week clos­ing low­er although not break­ing the range. Fur­ther­more, W1 QLo got reject­ed through a V‑shaped correction.
  • D1 Three Out­side Down clos­ing with­in D1 demand although not clear­ing the range. A retrace­ment to new­ly formed D1 Sup­ply (coin­cid­ing with W1 Sup­ply) could negate the Bear­ish the­sis as momen­tum down could be more probable. 

Addi­tion­al notes

  • Black­swan event

Focus Points for trad­ing development

  • Month­ly Goals
    • No momen­tum trades on Non-Farm Fridays
    • No ear­ly exits, either hit SL or target
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • Risk Man­age­ment
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

0 0 votes
Article Rating
Notify of

Inline Feedbacks
View all comments
Would love your thoughts, please comment.x