13 Mar DAX 2022 Week 11 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, 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
- MN Closed as a MN Three Outside Down giving MN-D1-C‑S 15533.08 taking out MN demand
- Price rejected MN QHi, no arrival at MN QLo (yet)
- MN-C‑D 12765.57 near MN QLo
- Price following through on momentum but is seeing some reaction off MN-C‑D 12765.57 and MN QLo
Weekly — Neutral
- W1 started reacting off W1 QLo and W1-C‑D 12585.63 and closed as an Inside Bar with buying and selling wicks
Daily — Neutral
- D1 Bull Engulf rejecting D1/W1/MN QLo
- Price returned to D1 VWAP in DT and started reacting. Price closed as an Inside Bar and followed by a possible base with longer selling wick testing VWAP (coinciding with D1 Base Supply level)
Sentiment summary — Bearish
- MN has dropped down to MN Demand and QLo and started reacting although still trading below previous range
- W1 formed an Inside Bar but did not close above 50% mark. Possibly developing a W1 Three Outside Up but need more information
- D1 rejected D1 QLo but has slowed down at VWAP in DT there could be another test of D1 QLo through a DBD but more information is needed.
Additional notes
- Blackswan event
- Thursday, Mar 17, 02:00, USD, Fed Interest Rate Decision
Focus Points for trading development
- Monthly Goals
- No momentum trades on Non-Farm Fridays
- No early exits, either hit SL or target
- Use SL scaling in case the profit target for the setup doesn’t provide 2R for example for FA or VAA setups
- Risk Management
- 2 consecutive days of lack of sleep = NO TRADING
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