DAX 2021 Week 50 Trading Plan

04 Dec DAX 2021 Week 50 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 — Bearish

• An all-time high was made and then the month closed as a MN DBD giv­ing MN-C‑S 15241 with long sell­ing wick

Week­ly — Bearish

• W1 closed down with slight­ly longer buy­ing wick clos­ing above W1 50MA in UT and with­in W1 demand

Dai­ly — Neutral

• 2nd Bear Engulf (this time with longer sell­ing wick) at new­ly formed MN C‑Sup
• Again price failed to close with­in D1 demand, pos­si­ble start of Phase 1 / 3

Sen­ti­ment sum­ma­ry — Bearish

• Price is trad­ing below last month’s body but with­in range
• Even though price closed down on W1, it failed to close below W1 50MA in UT as well as take out W1 demand, no rever­sal pat­tern (yet)
• Even though D1 formed a Bear Engulf, price seems to be react­ing off D1 demand. Pos­si­ble start of Phase 1 / 3

Addi­tion­al notes

• N.A.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 16102
• D1-C‑S 15322.37
• MN-C‑S 15241

ZOIs for Pos­si­ble Long

• W1-C‑D 15398
• D1-C‑D 15127

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 2R 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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