20 Dec DAX 2021 Week 52 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 longer selling wick
- Price probed above last month’s body and is now trading at the lower half of the body
Weekly — Bearish
- No continuation to the W1 Bull Engulf. Instead a Bearish Inside Bar possibly setting up for a Three Inside Down. Although price has not closed below the newly formed W1 Bull Engulf W1-C‑D 15322
Daily — Bearish
- D1 Three Outside Down at D1 QHi with price trading mid swing
- Possible D1 Phase 4
Sentiment summary — Bearish
- MN probed above but is trading lower now. Month still has long to go before closing.
- W1 Closed bullish but did not clear newly formed W1 demand as well as W1 50MA in UT (multiple tests though)
- D1 QHi rejected with no arrival at QLo and D1-C‑D 15127.24 at QLo still has some way to go albeit with W1 demand in the way.
Additional notes
- Nearing the holidays there might not be much follow-through to moves
ZOIs for Possible Shorts
- D1-C‑S 15702.98
- W1-C‑S 15367
ZOIs for Possible Long
- W1-C‑D 15322
- D1-C‑D 15246.44
- D1-C‑D 15127.24
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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