17 Sep DAX 2022 Week 38 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 Bear­ish Inside Bar with long sell­ing wick react­ing off W1 Sup­ply coin­cid­ing with W1 VWAP in DT
• Price closed back with­in W1 QLo although fail­ing to close with­in W1-MN-C‑D 12767.98
• Con­jec­ture: Price ini­tial­ly closed reject­ing W1 QLo although failed to push through. Instead the price pushed back down. 

Dai­ly — Bearish

• D1 Bear Engulf with con­tin­u­a­tion down return­ing to D1-C‑D 12991.79 BASE (near round num­ber) and clos­ing with­in D1 demand, D1 QLo
• Price near­ly took out demand but closed leav­ing a longer buy­ing wick, ie. D1 Hammer
• Con­jec­ture: Retrace­ment to Base demand lev­el indi­cates a poten­tial for a con­tin­ued retrace­ment to orig­i­nat­ing lev­el D1-C‑D 13664.92. Price did not take out demand and a fail­ure to have done so could indi­cate buy­ers are still around and could reverse although no rever­sal has print­ed yet. Even if price takes out demand there is more just underneath. 

Sen­ti­ment sum­ma­ry — Bearish

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals
  • Use SL scaling

• Twit­ter
• Insta­gram