Daily analysis and day trading setups on DAX Ger30 20220816
Updated
Happy Tuesday,
Line in the sand for Dax is 13850. However, for the rally to continue 13900 has to break. Bulls need to defend 13810 & 13780. Bears need to take out 13730
Macro: EU/DE Zew Survey, US Building Permits, Housing Starts, CAD CPI
Buy
Break: 13860, 13920, 14010, 14070
Reversal: 13800, 13740, 13690, 13600
Sell
Break: 13820, 13760, 13710
Reversal: 13945, 14030, 14085, 14120, 14150
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
Line in the sand for Dax is 13850. However, for the rally to continue 13900 has to break. Bulls need to defend 13810 & 13780. Bears need to take out 13730
Macro: EU/DE Zew Survey, US Building Permits, Housing Starts, CAD CPI
Buy
Break: 13860, 13920, 14010, 14070
Reversal: 13800, 13740, 13690, 13600
Sell
Break: 13820, 13760, 13710
Reversal: 13945, 14030, 14085, 14120, 14150
Green Goblin levels are here >>>
Fibonacci Confluence levels are here >>>
Trade closed: target reached
#Trade 1: bullish engulfing breakout of the yellow box. Anticipatory entry on top of the down sloping red RS line#LongTrade 13862
SL 20 pts
TP1 3:1 - 60 pts✅1/3rd
TP2 4:1 - 80 pts✅2/3rd
Conservative approach for TPs due to small trading range
Comment
#Trade 2: Anticipatory entry at the top of the supply zone 1#ShortTrade 13942
SL 20 pts
TP1 3:1 - 60 pts✅1/3rd
TP2 6:1 - 120 pts✅2/3rd
Conservative approach for TPs due to small trading range
Comment
Another winning day in the pocket. Thank you Mr Market2 winning trades with 73 + 100 = 173 pts in total
Dax behaved will with morning trading plan
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