12 Sep DAX 2022 Week 37 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 — Bullish
- W1 Bull Engulf reacting off demand and MN QLo closing above W1 QLo rejecting W1 QLo giving W1-MN-C‑D 12767.98
- Conjecture: Price closed above W1 QLo indicating a rejection and bullish bias. Price could see a retracement to W1 QLo or newly formed W1 demand. If price reaches W1 Supply coinciding with W1 VWAP in DT it could see sellers coming in.
Daily — Bullish
- D1 RBR rejecting D1 QLo closing above D1 VWAP in DT
- A little gap up over the weekend and price is trading below D1-C‑S 13194.88
- Conjecture: Price closed confidently above D1 VWAP in DT and D1 QLo is rejected. However, price is trading at a supply as well as having formed a small gap up it could see a retracement filling the gap before moving higher. There is no close within D1 Supply yet and price could see a reaction.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling