Daily analysis & day trading setups on DAX DE30EUR 20220822
Updated
Happy New Week, Happy Monday,
13400 level is still important for DAX. But the battleground is now between 13250 & 13700 for this week
Macro US Chicago Fed National Activity Index
Buy
Break: 13 480, 590, 685
Reversal: 13 440, 360, 250
Sell
Break: 13 450, 375
Reversal: 13 530, 600, 710, 780
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
13400 level is still important for DAX. But the battleground is now between 13250 & 13700 for this week
Macro US Chicago Fed National Activity Index
Buy
Break: 13 480, 590, 685
Reversal: 13 440, 360, 250
Sell
Break: 13 450, 375
Reversal: 13 530, 600, 710, 780
I regularly publish my daily analysis & trading plan for day trading setups. The links are here:
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
Trade closed: target reached
Trading using confluence fibs#Trade 1: Ping into blue level C. Entry on retest of green level
#ShortTrade 13480
SL 20 pts
TP1 3:1 ✅ 60 pts - 1/3rd
TP2 6:1 ✅ 120 pts - 1/3rd
TP3 9:1 ✅ 180 pts - 1/3rd
Total 360 pts. Average 120 pts with risk of 20 pts i.e. 6X
#TradeLessEarnMore
Trade closed manually
Trading using confluence fibs#Trade 2: Bearish engulfing break below Brown Mega Level C. Entry on retracement to green level
#ShortTrade 13323
SL 20 pts
TP1 3:1 ✅ 60 pts - 1/3rd
TP2 6:1 ✅ 120 pts - 1/3rd
TP3 6:1 ✅ 120 pts - 1/3rd - Closed on market close
Total 300 pts. Average 100 pts with risk of 20 pts i.e. 5X
#TradeLessEarnMore
Note
DAX behaved nicely with zones identified in the morning.But the reactions to levels of confluence fibonacci were phenomenal. I am switching to full fibonacci confluence trading now.
This zone chart
This confluence fibo chart
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