DAX 2022 Week 1 Trading Plan

02 Jan DAX 2022 Week 1 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 — Neutral

• Weak MN Bull Engulf not con­fi­dent­ly clear­ing the for­ma­tion thus a pos­si­ble con­sol­i­da­tion con­sid­er­ing the time of year as well

Week­ly — Neutral

• W1 Bull Engulf giv­ing W1-C‑D 15316.70 fol­lowed by a W1 RBR
• W1 stuck in a range with W1-C‑S 16102.51 above

Dai­ly — Bearish

• D1 Bear Engulf giv­ing D1-C‑S 15857.77 at D1 QHi (near D1 UKC in R) with a fol­low-up through an invert­ed Hammer

Sen­ti­ment sum­ma­ry — Neutral

• Even though MN closed as a Bull Engulf price hasn’t con­fi­dent­ly cleared the range and thus might be consolidating
• W1 is show­ing bull­ish signs but has not cleared the W1 sup­ply above. Even if price does, being this time of year, any break­outs should be looked at with suspicion. 
• Price trad­ing with­in an over­all range so highs could be poten­tial sell­ing lev­els, lows poten­tial buy­ing levels.

Addi­tion­al notes

• Jan­u­ary there is a lack of activ­i­ty espe­cial­ly in the equi­ties mar­kets so watch out for too tight ranges
• Pos­si­bly con­sid­er not trading
• Jan 07, 21:30, USD Non Farm Pay­rolls (Dec)

ZOIs for Pos­si­ble Shorts

• W1-C‑S 16102.51
• D1-C‑S 15857.77

ZOIs for Pos­si­ble Long

• D1-C‑D 15393.40
• W1-C‑D 15316.70

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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