DAX 2022 Week 23 Trading Plan

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

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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