DAX 2022 Week 4 Trading Plan

22 Jan DAX 2022 Week 4 Trading Plan

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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, please 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

• Weak MN Bull Engulf not con­fi­dent­ly clear­ing the for­ma­tion thus a pos­si­ble con­sol­i­da­tion con­sid­er­ing the time of year as well
• Price is trad­ed above body and broke the range almost tak­ing out supply
• Price reversed and is cur­rent­ly trad­ing with­in last month’s body

Week­ly — Bearish

• W1 Bear Engulf clos­ing with­in W1 demand giv­ing new W1 C‑Sup Bear Engulf
• Price pulled back to W1 50MA in UT coin­cid­ing with old W1 demand

Dai­ly — Bearish

• D1 QHi reject­ed, price trad­ing mid swing near­ing a test of QLo
• D1 Phase 4

Sen­ti­ment sum­ma­ry — Bearish

• MN tried tak­ing out all-time high but reversed but there is still a week of trad­ing left in the month
• W1 formed a Bear Engulf and even though price closed with­in W1 demand there is still more W1 demand giv­ing con­ges­tion for a ful­ly bear­ish sen­ti­ment. There could be a re-test of New­ly formed W1 C‑Sup
• Price reject­ed D1 QHi and has almost arrived at QLo which coin­cides with OLD W1 demand (that was test­ed mul­ti­ple times)

Addi­tion­al notes

• Jan­u­ary there is a lack of activ­i­ty espe­cial­ly in the equi­ties mar­kets so watch out for too tight ranges
• Pos­si­bly con­sid­er not trading

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or 2R target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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