04 Sep DAX 2022 Week 36 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 — Neutral
- Price tested MN-C‑S 13955.80 BASE and closed down as a possible consolidation.
- Price failed to close within MN-C‑D 12767.98
- Price trading above MN QLo
- Conjecture: Even though price closed down it failed to close within the huge demand below coinciding with MN QLo. Price also tested a Base supply level and could therefore see a continuation higher. Developing candle within the consolidation could see a breakout move.
Weekly — Bearish
- W1 Bear Engulf at MN Supply giving W1-C‑S 13587.71 with continuation closing below previous range low and within W1 QLo
- Price trading near W1-C‑D 12486.51 near round number
- Conjecture: Even though price closed lower it is trading at MN/W1 QLo at a huge demand. Price needs to close deeper within demand to sustain the bearish thesis although at this point no reversal has printed yet.
Daily — Bearish
- Price had closed above D1 QLo but then proceeded to form a D1 Bear Engulf giving D1-C‑S 13912.80
- Price proceeded to form a base and tested newly formed supply before closing lower leaving a big selling wick. Although price failed to close within D1-C‑D 13664.92.
- Conjecture: Price closed within D1 QLo although trading at these levels (as well as failing to close within demand) could see a reaction even though a reversal has not (yet) printed.
Sentiment summary — Bearish
- Sep 08, 20:15, EUR, ECB Interest Rate Decision
Focus Points for trading development
- Monthly Goals
- Use SL scaling