DAX 2022 Week 19 Trading Plan

07 May DAX 2022 Week 19 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-C‑S 14329.95 DBD, if price retraces to new­ly formed Sup­ply price could see a con­tin­u­a­tion high­er negat­ing the bear­ish sentiment
• MN QLo test­ed, price trad­ing mid swing
• Price trad­ing at MN RBR demand (orig­i­nat­ing lev­el already reached)

Week­ly — Bearish

• Price closed down return­ing to and is trad­ing at W1 Three Out­side Up
• W1 QLo rejected

Dai­ly — Bearish

• D1 Bear Engulf at VWAP near­ly test­ing D1 QHi with fol­low-through clos­ing with­in D1 demand and D1 QLo

Sen­ti­ment sum­ma­ry — Bearish

• MN Price returned to MN Base demand and already returned to the orig­i­nat­ing lev­el of MN-C‑D 12765.57 coin­cid­ing with MN QLo. Trad­ing with­in a long buy­ing wick could have buy­ers come in. 
• W1 is still clos­ing low­er and no rever­sal (yet) although W1 QLo is reject­ed and price is trad­ing into W1 demand and could see buy­ers come in
• D1 Bear Engulf and with fol­low-through clos­ing with­in demand could see con­tin­u­a­tion down unless price can con­fi­dent­ly close higher.

Addi­tion­al notes

• Black­swan event

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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