Daily analysis and trade setups on DAX Ger30 20220803

Happy Midweek.

The Gandalf line for DAX is currently at 13300. Bulls are in-charge but still very fragile. Today's macro can break them.

It has always been my experience that when price action approaches Big Brown levels, it gets into consolidation because it is decision time. Currently that level is 13440 (B)

Macro: DE - Trade Balance, BME PMI, EUR - PMI, Retail Sales***, US - PMI, Factory Orders, Services Employment Index, New Orders, PMI***, Prices Paid

Today's pivotal level is at 13415. Buy above. Sell overbought above. Sell below. Buy oversold below

Buy
Break: 13490. 13535, 13600
Reversal: 13415, 13370, 13300, 13260, 13200

Sell
Break: 13420, 13375, 13310, 13260
Reversal: 13490, 13540, 13600, 13695

Green Goblin levels are here >>>

TIFibs confluence levels are here >>>

Comment:

This is how market reacted to the levels identified