08 Oct DAX 2022 Week 41 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
- Price made a LL and is currently trading within Body
- 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 — Bullish
- W1 closed as a Bullish Inside Bar after having made a LL but left a long selling wick after a retracement to MN/W1 Supply (no touch)
- Price closed within MN/W1 demand, Wide MN/W1 QLo
- Conjecture: A retracement getting close but failing to reach newly formed W1 Supply formed through Three Outside Down could indicate momentum still on the side of sellers.
- The long selling wick is another indicator of this however closing as a Bullish Inside Bar contradicts this. A further test of W1 supply could see a reversal forming. Possible continuation lower if there is a LL made.
Daily — Bearish
- Price retraced to a D1 Supply Base Level
- D1 Evening Star / Three Outside Down with continuation at D1 QHi, coinciding with D1 VWAP in DT TC
- Price trading mid swing
- Conjecture: Even though price reacted off D1 QHi price did retrace to a D1 Base Supply level indicating a potential push towards originating level of W1-C‑S 12779.21. Instead price pushed lower.
- D1 QLo and some demand in the way to a push lower and could see buyers coming in.
Sentiment summary — Bearish
Focus Points for trading development
- Monthly Goals
- Use SL scaling