DAX 2022 Week 7 Trading Plan - Bear Market Trader
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DAX 2022 Week 7 Trading Plan

DAX 2022 Week 7 Trading Plan

#Fin­twit #DAX #DE30Cash #Order­flow #day­trad­ing #day­trade #forex #FX #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #index #indices

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. 

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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
  • Pos­si­ble devel­op­ing MN Three Out­side Down

Week­ly — Bearish

  • Price closed slight­ly lover as a Grave­stone Doji with­out extend­ing the pre­vi­ous range down
  • Pos­si­ble devel­op­ing W1 DBD

Dai­ly — Bearish

  • Price react­ed off D1 Sup­ply Form­ing a D1 Three Inside Down giv­ing new D1 sup­ply and price closed above D1 QLo

Sen­ti­ment sum­ma­ry — Bearish

  • MN is pos­si­bly devel­op­ing a MN Three Out­side Down which could indi­cate momen­tum behind a pos­si­ble break­down. Although no close yet.
  • W1 W1 keeps clos­ing low­er although last week’s price did not break the pre­vi­ous week’s range, it did devel­op a pos­si­ble base and could see a con­tin­u­a­tion. Price is still trad­ing with­in W1 demand though.
  • D1 Three Inside Down indi­cat­ing pos­si­ble momen­tum (although price did not close deep with­in demand) if price can con­tin­ue fur­ther down break­ing demand. A retrace­ment to new­ly formed demand wouldn’t be the strongest bear­ish sign. 

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


Day trader. Tech geek. Sim Racing Enthusiast.

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