#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
- Price closed down forming a MN Supply Base giving MN-C‑S 13958.49 BASE but failed to close within MN-C‑D 12765.57
- Price reached for MN QLo and made a LL and is seeing some reaction.
- Conjecture: With a big move down there could be some kind of retracement from these levels. Further supporting factors are trading at MN demand and MN QLo.
Weekly — Neutral
- W1 demand got taken out leaving a W1 Hammer reacting off W1/MN QLo as well as W1-C‑D 12482.32
- Last week closed lower but left a long buying wick again reacting off W1-C‑D 12482.32 but failed to make a LL.
- Conjecture: Longer buying wicks suggest buyers are around these levels. Further supporting factors are price trading at MN/W1 QLo as well as demand. Price might see a reversal here but more information is needed.
Daily — Bullish
- 2nd rejection of D1/W1/MN QLo through a D1 Bull Engulf at D1-C‑D 12661.22 returning to D1-C‑S 12813.69 BASE and closing above
- Price failed to close above D1 VWAP in DT
- Conjecture: Price retuning to a base level indicates a possible continuation to the originating level. In this case D1-C‑S 12929.51 which it is not far from. Price failed to close above D1 VWAP although saw only a slight reaction leaving a short selling wick. Price could test D1-C‑D 12732.04 for a 2nd Chance Entry before continuing higher. A close below could negate the Bullish thesis.
Sentiment summary — Neutral
Additional notes
- N.A.
Focus Points for trading development
- Monthly Goals
- Use SL scaling