Daily analysis & day trading setups - NASDAQ NAS100USD 20220830
Updated
Happy Tuesday,
NASDAQ has cleared 100 DMA as well as 10 WMA this morning. Line in the sand is 12 550. Bulls have a long way to go >>> 12 700, 800, 950, 13 050 before they can gain control. Bears need to 12 375 followed by 12 280 to regain/retain control
Macro EU HICP, US Housing Price Index, Consumer Confidence, Fed's Williams Speech
Buy
Break: 12 675, 755, 815, 945
Reversal: 12 585, 500, 420, 325
Sell
Break: 12 595, 515, 435, 385, 350
Reversal: 12 700, 775, 830, 970
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 >>>
NASDAQ has cleared 100 DMA as well as 10 WMA this morning. Line in the sand is 12 550. Bulls have a long way to go >>> 12 700, 800, 950, 13 050 before they can gain control. Bears need to 12 375 followed by 12 280 to regain/retain control
Macro EU HICP, US Housing Price Index, Consumer Confidence, Fed's Williams Speech
Buy
Break: 12 675, 755, 815, 945
Reversal: 12 585, 500, 420, 325
Sell
Break: 12 595, 515, 435, 385, 350
Reversal: 12 700, 775, 830, 970
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
Trade 1: Rejection of Blue Level C of Brown Level C (see chart for more details)Short Trade 12564
SL 20 pts
TP1 3:1✅60 pts
TP2 6:1✅120 pts
TP3 9:1✅180 pts
➡️ 360 pts on 3 positions
➡️ 120 pts profit with 20 pts risk per position
➡️ 6R/6X
➡️ This trade has the potential to turn into a massive swing trade. it already reached 17:1
Here is the chart with details:
Note
Above trade ended up going to 19:1 although I only took 3:1, 6:1 & 9:1Note
Overall, trading plan worked well. Got only 1 trade. Did not want to risk too much on the last couple of days in a massively winning month.1 winning trade with 360 pts overall & 120 pts average against risk of 20 pts. Giving 6R/6X
The levels are getting better everyday
Here is the zone chart
Here is green goblins chart
Here is fibonacci confluence chart
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