13 Nov DAX 2022 Week 46 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 — Bullish
- Price closed as a Big Bull Engulf within MN Supply Base LiDC rejecting MN QLo giving MN-C‑D 12781.51
- Price has made a HH trading above body, outside range, currently trading within MN Supply Base Level
- Conjecture: Price closing deep within MN Supply Base could see a continuation to originating level of 15244.49
- Price trading within supply (nearing MN VWAP) could see some reaction from sellers coming in
Weekly — Bullish
- Price closed higher (on its high) although failed to close within W1-C‑S 14350.66
- Price closed above W1 50MA in DT within Wide W1 QHi
- Conjecture: Price closing on its high with a wider range could indicate momentum. However, due to not closing within W1 Supply it could be an exhaustive move and some selling could come in.
- The Wide W1 QHi suggests a possible continuation although W1 Supply End is near the Round number of 15000 as well as W1 UKC in DT as well as near MN QHi and could therefore again see sellers come in around these levels.
Daily — Bullish
- D1 RBR giving D1-C‑D 13669.64 BASE before closing higher within Wide W1/D1 QHi
- Last Friday closed as a “short Hammer”.
- Conjecture: The Wide W1/D1 QHi suggests a possible continuation. Last Friday’s formation could see more buying coming in.
- However, price trading within a QHi could still see sellers coming as price still has to deal with W1 and D1 Supply.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling