DAX 2022 Week 29 Trading Plan

16 Jul DAX 2022 Week 29 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 MN QLo and made a LL and is see­ing some reaction. 
• 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 — Neutral

• W1 demand got tak­en out leav­ing a W1 Ham­mer react­ing off W1/MN QLo as well as W1-C‑D 12482.32
• Last week closed low­er but left a long buy­ing wick again react­ing off W1-C‑D 12482.32 but failed to make a LL.
• Con­jec­ture: Longer buy­ing wicks sug­gest buy­ers are around these lev­els. Fur­ther sup­port­ing fac­tors are price trad­ing at MN/W1 QLo as well as demand. Price might see a rever­sal here but more infor­ma­tion is needed.

Dai­ly — Bullish

• 2nd rejec­tion of D1/W1/MN QLo through a D1 Bull Engulf at D1-C‑D 12661.22 return­ing to D1-C‑S 12813.69 BASE and clos­ing above
• Price failed to close above D1 VWAP in DT
• Con­jec­ture: Price retun­ing to a base lev­el indi­cates a pos­si­ble con­tin­u­a­tion to the orig­i­nat­ing lev­el. In this case D1-C‑S 12929.51 which it is not far from. Price failed to close above D1 VWAP although saw only a slight reac­tion leav­ing a short sell­ing wick. Price could test D1-C‑D 12732.04 for a 2nd Chance Entry before con­tin­u­ing high­er. A close below could negate the Bull­ish thesis. 

Sen­ti­ment sum­ma­ry — Neutral

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram