Daily analysis & day trading setups on DAX DE30EUR 20220822

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:

• NASDAQ
  
• DAX
  
• SPX
  

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

Comment:

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