14 Aug DAX 2022 Week 33 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.
- Price pushing higher getting near MN Supply Base Level
Weekly — Bullish
- Possible W1 Phase 2
- Price closed higher above previous high, above VWAP, near its high
- W1 QLo rejected, price trading mid swing
- Conjecture: Price is trading mid swing and has some momentum behind it. MN Supply Base level in the way to W1 QHi could see some reaction. Price did close above VWAP but hasn’t cleared it yet so could see some reaction.
Daily — Bullish
- D1 Bull Engulf giving D1-C‑D 13656.02 followed by a D1 RBR
- Price trading above D1 UKC in DT
- D1 QLo rejected (sharing same levels as W1 QLo), price trading mid swing
- Conjecture: Price consolidated above D1 UKC in DT letting VWAP catch up a bit before pushing price higher. Expectation is for a further push higher. If price retraces to newly formed demand and lingers there it could diminish momentum to the upside.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling