DAX 2021 Week 38 Trading Plan

21 Sep DAX 2021 Week 38 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 closed high­er form­ing a Bull Engulf (RBR) giv­ing MN-C‑D 15585.83 hav­ing made an all-time high
• Price retraced last month’s body back to MN-C‑D 15585.83 BASE lev­el and is trad­ing deep with­in demand, almost tak­ing it out. No close yet.

Week­ly — Bearish

• Pos­si­ble W1 Phase 4 after a test of W1-C‑S 15830.15 and closed down

Dai­ly — Bearish

• D1 QHi reject­ed and is trad­ing mid swing
• Yes­ter­day price closed down and arrived at D1 QLo, and D1-C‑D 15125.15 (coin­cid­ing with D1 200MA)

Sen­ti­ment sum­ma­ry — Bearish

• MN price almost took out demand after price has returned to a base lev­el indi­cat­ing a poten­tial for a con­tin­u­a­tion. Price has not tak­en out MN demand (yet)
• On W1 Price closed below W1 VWAP in UT arriv­ing at a big W1 demand cur­rent­ly trad­ing with­in with no rever­sal (yet).
• Price reached D1 QLo, D1-C‑D 15125.15 coin­cid­ing with D1 200MA in UT although price has not reject­ed this lev­el (yet) it is a high­er prob­a­bil­i­ty for equi­ties to reverse and trade high­er and change the sen­ti­ment to Bullish. 

Addi­tion­al notes

• Sep 23, 02:00, USD, Fed Inter­est Rate Decision

ZOIs for Pos­si­ble Shorts

• D1-C‑S 15696.82

ZOIs for Pos­si­ble Long

• MN-C‑D 15585.83
• W1-C‑D 15394.53
• D1-C‑D 15125.15

Focus Points for trad­ing development

• Month­ly Goals
  • No momen­tum trades on Non-Farm Fridays
  • Total of 20 trades by the end of the month, prefer­ably 2 a day (not in the same prod­uct at the same time) 
• Week­ly Goal
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or 2R tar­get, lat­est cut-off 1:30 Lon­don time
• Risk Man­age­ment
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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