DAX 2022 Week 22 Trading Plan

28 May DAX 2022 Week 22 Trading Plan

#Fin­twit #DAX #DE30Cash #Mar­ket­Pro­file #Order­flow

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 coin­cid­ing with W1-C‑S 14351.53, if price retraces to new­ly formed Sup­ply price could see a con­tin­u­a­tion high­er negat­ing the bear­ish sentiment
• MN QLo test­ed, price trad­ing mid swing
• LL made but price but then price ducked above body but still with­in range (two days until close to reassess MN sentiment)

Week­ly — Bullish

• W1 Bull Engulf reject­ing W1 QLo (for 2nd time)  fol­lowed by a RBR clos­ing with­in W1-C‑S 14351.53
• Price closed above pre­vi­ous con­sol­i­da­tion range on its high
• W1 VWAP just above

Dai­ly — Bullish

• Price took out D1 Supply
• Price closed on its high with­in D1-C‑S 14456.40 and Wide D1 QHi coin­cid­ing with D1 UKC

Sen­ti­ment sum­ma­ry — Bullish

• MN ducked above range for the first time but there are two days left in the month for a con­firmed close
• W1 RBR reject­ing W1 QLo clos­ing with­in sup­ply above pre­vi­ous con­sol­i­da­tion range could take out Sup­ply. Although big sup­ply and W1 VWAP in the way. 
• D1 cleared some sup­ply and closed with­in anoth­er. Pos­si­ble pull­back first before a continuation.

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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