21 Nov DAX 2022 Week 47 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 within Wide W1 QHi, W1-C‑S 14350.66 as a little hammer,
- Round number of 15000 is still far above although coinciding with MN QHi, W1 Supply End, W1 UKC in DT
- Conjecture: Price closed within W1 Supply indicating a possible continuation although being a larger timeframe supply sellers can still come in.
- The Wide W1 QHi could suggest a continuation as well
- Supply has been tested multiple times and could weaken
Daily — Bullish
- Price closed higher but slowing down giving W1-C‑D 14256.93 HiDC
- Price trading within Wide W1/D1 QHi
- Conjecture: Price slowing down after a big rally could indicate price running out of steam. Although no reversal yet.
- Price trading within supply could see more sellers coming in although the Wide W1/D1 Qhi could see a continuation instead.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling