29 Oct DAX 2022 Week 44 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 one day left in the month
Weekly — Bullish
- Price closed higher above W1 VWAP in DT at its high right at W1 200MA
- Price is still trading within MN/W1 Supply
- Price rejected MN/W1 QLo
- Conjecture: Price closed on its high but stopped at W1 200MA and could see som selling coming in. Further selling pressure could be from trading within W1/MN Supply although the supplies are LiDC and could get taken out.
Daily — Bullish
- Possible D1 Phase 2
- D1 RBR formed closing on its high within D1 Supply, D1 QHi
- Price trading above D1 UKC
- Conjecture: Price trading above D1 UKC could have momentum behind it. A test of newly formed base could negate the bullish thesis.
- D1 200MA not far above could also see sellers coming in.
- If price takes out D1 Supply and Swing high there is still a W1 Supply above and could see sellers coming in.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling