24 Apr DAX 2023 Week 17 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 closed higher within MN-C‑S 15242.59 and MN QHi leaving a long buying wick
- Long buying wick tested MN-C‑D 14578.05 BASE HiCD
- Conjecture: Price having tested MN Base HiCD could mean an eventual reversal. However price seems to build strength after a V‑shape correction.
Weekly — Bullish
- W1 Phase 3 at W1 QHi with no follow-through, instead a W1 Three Outside Up giving W1-C‑D 15024.89 Momentum closing above previous structure high
- Price closed higher although traded a smaller range
- Price trading within Wide W1 QHi nearing W1-C‑S 16110.22
- Conjecture: Price is slowing down and could see sellers coming in
Daily — Neutral
- Price nearing D1-C‑S 15930.71 D1 demand HiDC created just below
- Conjecture: Price trading within Wide D1 QHi could mean a continuation. Although price slowed down and could see a reversal.
Sentiment summary — Bullish
Focus Points for trading development
- Monthly Goals
- Use SL scaling