DAX 2022 Week 6 Trading Plan

07 Feb DAX 2022 Week 6 Trading Plan

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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 — Neutral

• Last month closed as an Inside Bar after hav­ing extend­ed to both sides the range of the pre­ced­ing month
• Even though Inside Bar closed down it closed with a longer buy­ing wick
• Range has not been bro­ken (yet)
• Pos­si­ble Phase 1 / 3

Week­ly — Bearish

• Price trad­ed back down to W1 RBR Base lev­el and con­se­quent­ly retraced to orig­i­nat­ing lev­el and broke it
• Old W1 demand still intact although last week’s price closed down with­in it (leav­ing a longer sell­ing wick) and pre­vi­ous­ly test­ed low of the range (coin­cid­ing with W1 LKC in UT)

Dai­ly — Bearish

• D1 QLo rejec­tion and price tried retrac­ing to QHi but did not touch
• D1 Bear Engulf formed below D1 QHi and con­tin­u­a­tion down cur­rent­ly trad­ing at D1 QLo coin­cid­ing with OLD D1 demand although no rever­sal pat­tern formed (yet)

Sen­ti­ment sum­ma­ry — Bearish

• MN is show­ing signs of a con­sol­i­da­tion, pos­si­ble Phase 3, how­ev­er price has not bro­ken  the range (yet)
• W1 has closed with­in demand and there is no rever­sal pat­tern (yet)
• Price is trad­ing at D1 QLo and D1 demand so some reac­tion is expect­ed although no rever­sal pat­tern has been formed (yet)

Addi­tion­al notes

• N.A.

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 15 trades by the end of the month, can take 2 a day (not in the same prod­uct at the same time) 
  • No ear­ly exits, either hit SL or target
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
• Process
  • Keep trade review com­ments short
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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