DAX 2022 Week 2 Trading Plan

08 Jan DAX 2022 Week 2 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
• Price is trad­ing above body and range almost tak­ing out supply

Week­ly — Bullish

• W1 RBR but still trad­ing with­in over­all range
• W1 closed as an Invert­ed ham­mer with range almost tak­ing out W1-C‑S 16102.51

Dai­ly — Bearish

• D1 Three Out­side Down at W1-C‑S 16102.51 with con­tin­u­a­tion clos­ing low­er. Although no close reject­ing D1 QHi and closed with a longer buy­ing wick react­ing off D1-C‑D 15850.32.

Sen­ti­ment sum­ma­ry — Neutral

• MN is trad­ing above last month’s body and range
• If W1 can take out sup­ply and close high­er it would estab­lish a more bull­ish sen­ti­ment. The invert­ed ham­mer eludes to a pos­si­ble con­tin­u­a­tion if next week can close high­er. Oth­er­wise there could be a shift in sentiment.
• D1 is show­ing a pos­si­ble sign of a rever­sal although not con­firm­ing a rejec­tion of swing high (yet)

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

ZOIs for Pos­si­ble Shorts

• D1-C‑S 16250
• W1-C‑S 16102.51
• D1-C‑S 15857.77

ZOIs for Pos­si­ble Long

• D1-C‑D  15850.32
• 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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