02 Oct DAX 2022 Week 40 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 — Bearish
- MN consolidation at MN demand, MN QLo with break down giving MN-C‑S 12787.40
- Price closed near its low within Wide MN demand, within Wide MN QLo
- Conjecture: Even though price closed breaking down from MN Consolidation price is still trading within wide MN demand, Wide MN QLO.
- Wide MN QLo could indicated a further continuation lower
- MN LKC in UT coinciding with MN QLo swing low and MN Demand End 11327.55 could see buyers coming in if price tries to pop demand and swing low.
Weekly — Bearish
- Price closed lower following a momentum move in W1 THree Outside Down closing within Wide W1 demand, Wide MN/W1 QLo
- Conjecture: Price seems to follow-through on momentum although range is showing some waning momentum as last week closed with a shorter range.
- Price trading within W1 demand could see buyers coming in.
Daily — Bearish
- D1 Bear Engulf giving D1-C‑S 12114.18 Low in Dist. Curve, price tested supply and closed lower but failed to made a LL
- Conjecture: Price failing to close without making a LL as well as buying wicks around could indicate some buyers are still around. If price keeps testing D1 Supply it could see a reversal.
Sentiment summary — Bearish
Focus Points for trading development
- Monthly Goals
- Use SL scaling