Daily analysis and trade setups on DAX Ger30 20220729
Happy Friday and Happy Last Trading Day of the Month
DAX range has compressed so it is making multiple levels of support and resistance. We simply have to deal with it until it makes up its mind and moves
The bias is turning bullish by the day but the drop is going to be significant. So always be careful. "Trust the trend but verify" in force
Macro: EUR Unemployment, GDP, HICP, US PCE, PI + PS, Chicago PMI & Michigan CSI
Mostly directional scalp trades still
Buy
Break: 13440, 13520
Reversal: 13300, 13260, 13220, 13170, 13100
Sell
Break: 13350, 13270, 13220
Reversal: 13450, 13500, 13600, 13690
Chart with Fib Levels here >>>
Chart with TIFib Confluence Levels here >>>
DAX range has compressed so it is making multiple levels of support and resistance. We simply have to deal with it until it makes up its mind and moves
The bias is turning bullish by the day but the drop is going to be significant. So always be careful. "Trust the trend but verify" in force
Macro: EUR Unemployment, GDP, HICP, US PCE, PI + PS, Chicago PMI & Michigan CSI
Mostly directional scalp trades still
Buy
Break: 13440, 13520
Reversal: 13300, 13260, 13220, 13170, 13100
Sell
Break: 13350, 13270, 13220
Reversal: 13450, 13500, 13600, 13690
Chart with Fib Levels here >>>
Chart with TIFib Confluence Levels here >>>
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Learn my strategy and get indicators & tools 👉🏼https://www.tradingindian.com
All levels worked extremely well.
Winning trades
Long Trade #1: 9:1 - 180 pts
Long Trade #3: 6:1 - 120 pts
Short Trade #4: 2:1 - 40 pts (counter trend)
Long Trade #5: 2:1 - 40 pts (closed at the close of the market)
Losing trades
Short Trade #2: 20 points
Net for the day
360 points with an average R/R of 4.5R