11 Jun DAX 2022 Week 24 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
- Price is seeing a sell off at VWAP again and price ducked below Body
- A weird candle close although bullish did not close above VWAP. Price could start selling off again (currently developing) although there was a fairly quick recovery from the test of MN QLo and price is near QHi.
- A possible consolidation is still on the table and highs and lows of the range could function as bounce levels.
Weekly — Bearish
- W1 Evening Star formed at W1 VWAP in DT / W‑C-S 14351.53
- Price returned to W1 Demand Base level and consequently to originating level of W1-C‑D 13916.39 closing within.
- W1 QLo rejected, price trading mid swing.
- Even though price closed within W1 demand the week could develop in taking out demand although wide and at W1 QLo the buyers could take over or at least push back some.
Daily — Bearish
- D1 Phase 4 closing within D1/W1 demand
- D1 QHi rejected, with price nearing D1 QLo.
- D1 Demand End 13683.98 at D1 QLo coinciding with D1 LKC in R.
- Even though price is selling off price is trading within D1/W1 demand and nearing D1 LKC in R / D1 QLo and could see some reaction from Buyers. If D1 demand gets taken out and price closes lower price still has to deal with W1 demand.
Sentiment summary — Bearish
- Blackswan event