21 Feb DAX 2022 Week 8 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
- One week of trading left
Weekly — Bearish
- Selling wicks around
- Last week closed as a W1 DBD 15182.33 almost taking out W1 demand
Daily — Bearish
- Price tested D1 C‑sup and developing MN C‑sup and formed a D1 Evening Star
- Price continued to close lower within D1/W1 demand
- Price gapped down over the weekend
Sentiment summary — Bearish
- MN is possibly developing a MN Three Outside Down although no close yet
- W1 DBD formed closing deeper within W! Demand and tested W1 LKC in UT (2nd time) but W1 demand still intact, no reversal pattern (yet)
- D1 closed within D1 demand and gapped down over the weekend (gap has been filled during Monday Asia session, no reversal pattern (yet)
Additional notes
- N.A.
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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