DE30 DAX Week 37 Trading Plan

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This is my week­ly out­look on DE30 oth­er­wise known as DAX. Basi­cal­ly the lev­els that I will be look­ing at where it has 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 mar­ket pro­file. I hope that makes sense. If not, please get in touch with me. I love to talk to peo­ple that are on the same path as me.

Month­ly — Slight­ly Bullish

• Last month test­ed but did not close inside sup­ply MN-C‑S 12936.82
• Devel­op­ing month trad­ing above last month’s body with a move high­er into sup­ply test­ing W1-C‑S 13423.12
• With­in MN QHi

Week­ly — Slight­ly Bullish

• W1 RBR with last week a test of over­head sup­ply W1-C‑S 13423.12 clos­ing as an inside bar with longer sell­ing wick. With low­er wick extend­ing below the pre­ced­ing week’s range.
• Price trad­ing above W1-C‑D 12675.52

Dai­ly — Slight­ly Bearish

• D1 Bear Engulf fom­ing D1-C‑S 12996.78 with Fri­day form­ing a near-Doji

Mar­ket Pro­file — Slight­ly Bearish

• Price still in over­all range cur­rent­ly at the bot­tom of the range with an attempt to dip below but quick­ly returned.

Sen­ti­ment sum­ma­ry — Neu­tral to Slight­ly Bullish

• Last two days prob­a­bly had some prof­it-tak­ing. Equi­ties being equi­ties and price being at the bot­tom of the over­all range there are grounds for more bull­ish sen­ti­ment. Espe­cial­ly com­bined with price being above larg­er time frame demand. A con would be that we are test­ing the all-time high of last Feb­ru­ary with the con­se­quent COVID sell off.

ZOIs for Pos­si­ble Shorts

• W1-C‑S 13423.12
• D1-C‑S 13131.39
• D1-C‑S 12996.78
• MN-C‑S 12936.82
• W1-C‑S 12781.52

ZOIs for Pos­si­ble Long

• D1-C‑D 13084.69
• W1-C‑D 12865.21 BASE
• W1-C‑D 12675.52

Focus Points for trad­ing development

• Week­ly Goal
  • For­mu­late hypos in order of like­li­hood and track with actu­al devel­op­ment on the day
  • Incor­po­rate pro­file day type
• Trad­ing Rules
  • If Open out­side of val­ue con­sid­er the place­ment in rela­tion to ADR/ASR
  • FX with­in val­ue > DAX
• Risk Man­age­ment
  • 3 trades 1% risk, 3rd trade only if first 2 worked out
  • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
  • 2 con­sec­u­tive days of lack of sleep = NO TRADING

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