06 Aug DAX 2022 Week 32 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
- Last month closed as an Inside Bar reacting off MN-C‑D 12761.56 and MN QLo
- Conjecture: Last month did not fully retrace back to the 50% mark of the previous body and as it is an Inside bar MN QLo has not technically been rejected. Although price could develop a MN Three Outside Up and if price returns to MN-C‑D 14000 BASE it can further suggest a continuation higher to originating level of MN-C‑S 15238.66.
- However, as the base level is at a Round number coinciding with MN VWAP in UT CAR could see selling coming
- Development of a Three Outside Up should see some momentum coming into the market. Although due to the larger timeframe this can be interesting to see how it develops, if any.
Weekly — Bullish
- Possible W1 Phase 2
- W1 QLo rejection, price trading mid swing
- Last week closed higher although leaving a seeling wick reacting off W1 VWAP in DT coinciding with W1 LKC in DT
- Conjecture: Price closing higher in a possible W1 Phase 2 could see a continuation. Although with VWAP in the way price needs to close above it.
Daily — Bullish
- D1 has traded higher and closed above D1 UKC in DT but started consolidating.
- D1 QLo shares the same levels as W1 QLo and as such price is trading mid swing.
- Conjecture: Price has been closing higher and could see a continuation with a break higher from consolidation. Although due to trading above D1 UKC in DT there could be sellers coming in although no reversal yet.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling