DAX 2021 Week 35 Trading Plan

28 Aug DAX 2021 Week 35 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, please 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 — Bullish

• Last month ducked below the pre­vi­ous month’s low to then close as a near-Doji with long buy­ing wick (Drag­on­fly doji). Sell­ing wick not mak­ing a HH. Some slow-down through a poten­tial base but need anoth­er month to con­firm or reject. 
• Price trad­ing above last month’s body and out­side range pos­si­bly devel­op­ing a MN RBR

Week­ly — Neutral

• Price closed as an Inside Bar (fol­low­ing a Bear­ish Inside Bar with longer buy­ing wick) pos­si­bly a Base but need more infor­ma­tion ie. anoth­er week of trading.
• Price trad­ing above W1 VWAP in UT

Dai­ly — Bullish

• D1 Bull Engulf at D1-C‑S 15824.94 but closed below D1-C‑S 15864.53 (show­ing a slight reaction)

Sen­ti­ment sum­ma­ry — Bullish

• The month hasn’t closed yet but it looks to poten­tial­ly form a RBR
• W1 is show­ing some sell off and a poten­tial DBD in the mak­ing but need anoth­er week to com­plete the pat­tern (if any)
• D1 show­ing buy­ers com­ing fail­ing to break demand although with imme­di­ate sup­ply over­head the way up isn’t with­out hur­dles. Although a base sup­ply lev­el was cre­at­ed before and price has retraced to it but instead of break­ing it formed sup­ply. Price is about to test that sup­ply again. 

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• D1-C‑S 15966.51
• D1-C‑S 15864.53

ZOIs for Pos­si­ble Long

• D1-C‑D 15824.94
• W1-C‑D 15660.10

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 13 trades by the end of the month
• Week­ly Goal
  • Week­ly Focus Points
  • Min. 3 times work­ing out at home + manda­to­ry cardio
  • Trad­ing rules
  • Focus on tak­ing ONE trade a day. If I missed the first DTTZ then a trade needs to be tak­en on the 2nd DTTZ unless there is a high/medium ini­tia­tive activ­i­ty day.
  • Only price-action based exit rules (or if hit time stop comes earlier)
  • M15/M30 entries and exits at 1st DTTZ, M5 entries and exits at 2nd DTTZ
  • Buffer trades (prof­it tar­get >1R) are allowed and encouraged
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No social media / mes­sen­ger apps / phone calls allowed dur­ing the trad­ing window
• Risk Man­age­ment
  • With­out forc­ing a trade: aim to take 1 trade a day, if pos­si­ble 2. 
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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