25 Sep DAX 2022 Week 39 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
- Price has made a LL and is probing deeper within MN demand.
- 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 could see a breakout move or snap back into the fold.
Weekly — Bearish
- W1 Three Outside Down giving W1-C‑S 12780.70 taking out W1 demand closing within W1-C‑D 12486.51
- Price closed within MN/W1 QLo
- Conjecture: Price closed within demand but the demand is wide and could see a reaction. Price closing as a W1 Three Outside Down implies momentum coming in. In lack thereof it could negate the bearish thesis.
Daily — Bearish
- D1 Bear Engulf at W1-C‑S 12780.70 with continuation although price tested supply twice before closing lower
- D1 DBD giving D1-C‑S 12539.86 closing within MN/W1/D1 QLo and W1 demand
- Conjecture: Price closed below previous range indicating a possible continuation. Although having formed a DBD it could see a retracement to newly formed Base Supply level and if so could see a retracement to originating level of 12780.70 negating the bearish thesis.
Sentiment summary — Bearish
Focus Points for trading development
- Monthly Goals
- Use SL scaling