DAX 2022 Week 20 Trading Plan

14 May DAX 2022 Week 20 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, 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-C‑S 14329.95 DBD, if price retraces to new­ly formed Sup­ply price could see a con­tin­u­a­tion high­er negat­ing the bear­ish sentiment
• MN QLo test­ed, price trad­ing mid swing
• LL made but price is trad­ing back with­in last month’s body

Week­ly — Bullish

• W1 Bull Engulf reject­ing W1 QLo giv­ing W1-C‑D 13916.39

Dai­ly — Bullish

• D1 QHi reject­ed, price trad­ing mid swing
• Price closed high­er slight­ly with­in D1-C‑S 14028.15 (sup­ply below D1 QHi)

Sen­ti­ment sum­ma­ry — Bullish

• MN made a LL but start­ed trad­ing high­er react­ing off buy­ing wick
• W1 Bull Engulf reject­ing W1 QLo although still trad­ing into sell­ing wicks, sup­ply could see congestion
• D1 increased momen­tum high­er and even though closed with­in sup­ply price could see push­back before sup­ply gets tak­en out (if any).

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

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