DAX 2022 Week 7 Trading Plan

12 Feb DAX 2022 Week 7 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 — Neutral

• Last month closed as an Inside Bar after hav­ing extend­ed to both sides the range of the pre­ced­ing month
• Even though Inside Bar closed down it closed with a longer buy­ing wick
• Range has not been bro­ken (yet)
• Pos­si­ble Phase 1 / 3
• Pos­si­ble devel­op­ing MN Three Out­side Down

Week­ly — Bearish

• Price closed slight­ly lover as a Grave­stone Doji with­out extend­ing the pre­vi­ous range down
• Pos­si­ble devel­op­ing W1 DBD

Dai­ly — Bearish

• Price react­ed off D1 Sup­ply Form­ing a D1 Three Inside Down giv­ing new D1 sup­ply and price closed above D1 QLo

Sen­ti­ment sum­ma­ry — Bearish

• MN is pos­si­bly devel­op­ing a MN Three Out­side Down which could indi­cate momen­tum behind a pos­si­ble break­down. Although no close yet.
• W1 W1 keeps clos­ing low­er although last week’s price did not break the pre­vi­ous week’s range, it did devel­op a pos­si­ble base and could see a con­tin­u­a­tion. Price is still trad­ing with­in W1 demand though.
• D1 Three Inside Down indi­cat­ing pos­si­ble momen­tum (although price did not close deep with­in demand) if price can con­tin­ue fur­ther down break­ing demand. A retrace­ment to new­ly formed demand wouldn’t be the strongest bear­ish sign. 

Addi­tion­al notes

• N.A.

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 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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