23 Jul DAX 2022 Week 30 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. Price is trading above MN demand and MN QLo.
- 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 — Bullish
- Some consolidation with longer buying wicks reacting off MN/W1 QLo and W1-C‑D 12482.32
- Price broke higher from consolidation giving W1-C‑D 12934.39 although leaving a selling wick that returned and took out a W1 Base Supply level but closed below W1 200MA.
- Conjecture: Price returning to the W1 Base Supply level indicates a potential further move to the originating level of W1-C‑S 14351.53. Price failed to close above W1 200MA and could see some reaction. There might also be some reaction at W1 VWAP in DT.
Daily — Bearish
- D1 VWAP in DT BO
- Price returned to D1-C‑S 13340.18, D1 QHi and D1 50MA in DT and is seeing some reaction through D1 Inside Bar and a potential base supply.
- Conjecture: Even though price broke out from VWAP price is running into supply and could see a retracement further indicated by a potential base being formed. Although if price breaks higher and closes within Supply there could be a continuation higher.
Sentiment summary — Neutral
- Jul 28, USD, Fed Interest Rate Decision
Focus Points for trading development
- Monthly Goals
- Use SL scaling