Daily analysis and day trading setups on DAX Ger30 20220817

Happy Mid Week Day, Happy Wednesday, Happy FOMC Day,

Dax managed to touch 61.8 retracement at 13968 of recent down move. If support at 13852 holds, it can go to 14373

Line in the sand today stands at 13852

Macro EU GDP, US Retail Sales, FOMC

Buy
Break: 13990, 14065, 14160
Reversal: 13900, 13840, 13800, 13750, 13690

Sell
Break: 13915, 13845, 13810, 13760, 13710
Reversal: 14000, 14070, 14175

Green Goblin levels are here >>>

Fibonacci Confluence levels are here >>>

I regularly publish my daily analysis & trading plan for day trading setups. The links are here:

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Trade active:

#Trade 1: Market open break below EQ Zone. Anticipatory trade at the EQ Zone top

#ShortTrade 13916
SL 20 pts
TP1: 3:1✅
TP2: 6:1✅ Stop moved to 3R
TP3: 9.1 Almost done

#EasyPeasy #Daytrade when you #PlanYourTrades & #TradeYourPlan $DAX #DAX40 #DAX30

Trade closed: target reached:

9:1 in the bag

20 pts risk
60 pts on 1/3rd
120 pts on 1/3rd
180 pts on 1/3rd
Overall 120 points. That's 6R overall

You don't need more trades. You need one single trade with right entry and planned exits.

Trade closed manually:

#Trade 2: After 9:1 in 1st trade, this trade in the same Demand Zone 3. Break down bearish engulfing with retracement entry at the top of the zone

#ShortTrade 13756
SL 20 pts
TP1: 3:1 ✅ 1/3rd
TP2: 6:1 ✅ 1/3rd
TP3: 6.5:1 ✅ 1/3rd
Overall 103 pts

Last TP3 was manual closing at the reversal in zone 5

Comment:

DAX could not have performed any better today

Massive 223 pts against the risk of only 20 pts

Why trade more when you can easily earn by trading less