03 Dec DAX 2022 Week 49 Trading Plan
#Fintwit #DAX #DE30Cash #MarketProfile #Orderflow #TradingPlan
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 followed-through on the MN Bull Engulf (rejecting MN QLo) and closed higher within MN Supply Base almost taking it out
- Price closed slightly above MN VWAP
- Conjecture: Price closing deep within MN Supply almost taking out Supply indicates a possible continuation higher
- Price trading at MN VWAP could see sellers come in
Weekly — Bullish
- Price closed yet again slightly higher within W1-C‑S 14350.66, wide W1 QHi
- Conjecture: Price closing deeper within W1 Supply and Wide W1 QHi could see a continuation.
- If price pops W1 Supply and W1 QHi at W1 Supply End 14926.63 (coinciding with W1 UKC in DT as well as the Round No. 15000) it could see sellers coming in although MN QHI is not far above
- A negation of bullish thesis would be a close below W1 Supply
Daily — Bullish
- Possible D1 Phase 1 / 3 within Wide W1/D1 QHi
- Price reactive above D1 VWAP in UT giving D1-C‑D 14394.30 and price closed within consolidation as a Bullish Inside Bar with longer buying wick
- Conjecture: Price failed to close within D1 Supply and could be reactive and see sellers come in
- D1 demand at D1 VWAP in UT was formed through a momentum formation and a retracement to its demand is not the strongest sign.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling
- 1st DTTZ Gold
- 2nd DTTZ DAX