15 Oct DAX 2022 Week 42 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
- Last week closed as a Weak W1 Three Outside Up giving W1-C‑D 12146.21 Momentum failing to close above MN/W1 QLo and W1 demand
- Conjecture: Even price closed somewhat weakly and failed to close above MN/W1 QLo price is still trading within demand and could see a continuation higher. A repeated test of newly formed W1-C‑D 12146.21 could negate the thesis and see a continuation lower (as a Three Outside Up suggests momentum coming in).
Daily — Bearish
- Possible D1 Phase 1 / 3
- Price tested D1-C‑S 12601.70 coinciding with D1 QHi and D1 50MA in DT and started reacting with price closing as a D1 Hammer
- Conjecture: Price retraced to a D1 Base Supply Level indicating a possible further probe to originating level of 12779.21.
- Although price started to react at D1 QHi it did so leaving a longer selling wick and forming a Hammer which could see a continuation higher rather than a reversal. However, due to price closing at its low price could probe further low. If price can close within D1 QHi price could see a continuation lower.
Sentiment summary — Bearish
Focus Points for trading development
- Monthly Goals
- Use SL scaling