11 Jul DAX 2022 Week 28 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. Further supporting factors are trading at MN demand and MN QLo.
Weekly — Bearish
- W1 Hammer reacting off W1-C‑D 12587.29 and W1 QLo
- W1 QLo shares the same levels as MN QLo
- Conjecture: more probable for Hammers is to see a continuation but need to be mindful of price trading at MN/W1 QLo as well as MN/W1 demand. As such, price could try and push higher to form a Morning Star.
Daily — Bullish
- D1 Three Inside Up and slight continuation failing to close above D1 VWAP in DT
- D1 QLo shares the same level as MN/W1 QLo
- Conjecture: Price is seeing some reaction at D1 VWAP in DT and could trade lower although no reversal (yet). If price can close above VWAP price could see a continuation higher.
Sentiment summary — Bearish
Focus Points for trading development
- Monthly Goals
- Use SL scaling