Daily analysis and trade setups on DAX Ger30 20220801

Happy Monday, Happy August

Dax now has to establish above 13580 to be completely bullish. The trend is definitely up and anybody can see that.

I will publish monthly analysis separately but current move looks like a pullback on overall downtrend. If that is true then a continuation in monthly trend towards downside could be very gib. Alternatively, it can stay within the 13k to 14k range and give us some good day trading opportunities.

Today's pivotal level is 13390. It remains bullish on the day above that and bearish below

Buy
Break: 13470, 13540, 13590, 13680
Reversal: 13390, 13340, 13320, 13250, 13190, 13100

Sell
Break: 13440, 13410, 13340, 13300,
Reversal: 13550, 13610, 13680, 13840, 13960

Green goblin chart is here >>>

Confluence chart is here >>>

Comment:

Macro: DE Retail Sales, DE BME Mfg PMI, EU Unemployment Rate, US Mfg PMI

Comment:

My DAX levels need some work. I am finding it difficult to have small boxes and DAX range is small. I will figure out how to make them work.

Winning Trades
Long Trade #1: 3R - 120 pts
Short Trade #2: 3R - 120 pts

Losing Trades
None

Profitable Monday
240 pts - Average 3R

Here is how it looks >>