06 Jun DAX 2022 Week 23 Trading Plan
#Fintwit #DAX #DE30Cash #MarketProfile #Orderflow
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 — Bullish
- Weird Inside Bar closing above previous body
- Price failed to close above VWAP
- Price tested and rejected MN QLo, price trading mid swing
- Conjecture: A weird candle close although bullish did not close above VWAP. Price could start selling off again although there was a fairly quick recovery from the test of MN QLo and price is near QHi.
Weekly — Bullish
- W1 RBR closing within Wide W1 Supply rejecting W1 QLo for the 2nd time, price trading mid swing
- Last week closed as an Inside Bar / spinning top reacting at W1 VWAP in DT
- Conjecture: Price slowed down at W1 VWAP although possibly formed a base for another leg up breaking out from VWAP. If the week closes down there could be a change in sentiment.
Daily — Neutral
- Arrival at D1 QHi has seen slowdown in price. Big Bull Engulf closing within QHi giving a demand high in distribution curve just below.
- Possible D1 Phase 1 / 3
- Conjecture: Even though price has slowed down there is no clear rejection from D1 QHi (yet). If price manages to close within (or better take out) newly formed demand High in Dist. Curve it could turn the sentiment to bearish. Expectancy has a nod to the upside.
Sentiment summary — Bullish
- 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