02 Jul DAX 2022 Week 27 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 — Bearish
- Price closed down forming a MN Supply Base giving MN-C‑S 13958.49 BASE but failed to close within MN-C‑D 12765.57
- Price reached for but did not quite test MN QLo again
- Conjecture: With a big move down there could be some kind of retracement from these levels.
Weekly — Bearish
- Price Closed down forming a little Supply Base level at W1 200MA but left a longer buying wick
- Price trading within wider W1 QLo and W1 demand
- Conjecture: Price failed to close below previous body low, as well as W1 demand still being intact, price could start reacting here. If price can close
Daily — Bullish
- Possible D1 Phase 1 / 3
- Price took out D1 Bull Engulf and closed within D1-C‑S 12900
- D1 Bullish Inside Bar closing above D1 demand although price is still trading within D1 QLo
- Conjecture: Price could see a continuation here and form a reversal if price can pull through on the Bullish Inside Bar (although might just be some profit-taking) but price needs to close above D1 QLo and clear supplies so there could be some Phase 1 continued first. If price closes deeper within demand (or take out) it could negate the thesis or possible extend the Phase 1.
Sentiment summary — Bearish
- Blackswan event
Focus Points for trading development
- Monthly Goals
- 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