#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