28 Nov DAX 2022 Week 48 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.
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 (at MN VWAP) could see some reaction from sellers coming in
Weekly — Bullish
- Price closed slightly higher as a Spinning Top within W1-C‑S 14350.66
- Price trading deep within Wide W1 QHi
- Conjecture: Price did close higher although the range has dwindled some and trading within W1 supply could see sellers coming in.
- The Wide W1 QHi could see a continuation higher and take out swing high which would coincide taking out MN Supply End 14707.23
- Price trading extended above W1 VWAP and could see some retracement
Daily — Bullish
- Price trading higher although losing some momentum and currently trading below D1-C‑S 14606.97
- Price trading within Wide W1/D1 QHi
- Conjecture: Even though price has slowed down it has still climbed higher and not formed a reversal pattern yet
- Trading deeper within Wide W1/D1 QHi could see further continuation
- D1-C‑D 14256.93 HiDC formed at D1 VWAP could see more buyers coming in if tested then again if tested continuously it could negate the thesis.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling