22 Oct DAX 2022 Week 43 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 above Body, within range although testing newly formed MN supply (which is low in dist. curve)
- Conjecture: Even though price closed breaking down from MN Consolidation price still has to deal with wide MN demand, Wide MN QLO and started reacting
- Wide MN QLo could indicated a further continuation lower
- Price testing newly formed Supply could negate a Bearish thesis but still time left in the month
Weekly — Bullish
- W1 Three Outside Up with continuation closing slightly within W1-C‑S 12779.21 Low in Dist. Curve
- Price trading below W1 VWAP in DT
- Price closed above MN/W1 QLo
- Conjecture: Price closing above W1 QLo suggests a possible shift in sentiment further backed by price closing within W1 Supply.
- Price action is showing momentum behind the move, any signs of waning momentum could negate the thesis although some reaction is to be expected at these levels.
Daily — Bullish
- D1 Bear Engulf mid swing did not see much continuation, instead prive formed a Bull Engulf although failed to take out D1 Supply
- D1 QLo rejected, price trading mid swing, took out D1 Base Supply
- Conjecture: Taking out D1 Base Supply level indicates a possible continuation to originating level of 13165.38
- Price could see a reaction at D1 QHi coinciding with D1 UKC in DT as well as D1 Supply.
- A repeated test of newly formed Demand could negate the bullish thesis
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling