Daily analysis & day trading setups NASDAQ NQ_F NDX 01 Sep 22

Happy September, Happy Thursday,

The first level that NASDAQ needs to regain is 12300. Then 12550 & then 12700 to be back in safe territory. Line in the sand today is 12170

12K is blindly obvious psychological level. So organised/institutional money does not trade that level. So levels to watch are 11989, 927, 843 & 809.

Macro GB Mfg PMI, EU Unemployment Rate, US Jobless Claims, Nonfarm productivity, Labor Costs, Mfg PMI, Employment Index, New Orders Index

Buy
Break: 12 150, 212, 281, 365
Reversal: 12 087, 012, 11 920, 878

Sell
Break: 12 100, 058, 012, 927
Reversal: 12 170, 266, 297, 382, 476

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:

Trade 1: Entry at the top of Green level B after breakdown overnight below the level and retest already holding

Short Trade 12220
SL 20 pts
TP1 3:1✅ stop ➡️ entry
TP2 6:1✅ stop ➡️ TP1 - 3R
TP3 3:1✅ - Stopped out on reversal at the wick
➡️240 pts on 3 positions
➡️80 pts per position
➡️4R/4X

Trade closed: stop reached:

Trade 2: Strong reversal at Green level F. Entry on retest at yellow shadow level of Green level F

#LongTrade 12040
SL 20 pts
🛑❌ Stopped out

Trade is taken as per the plan so nothing to worry

1st losing trade of the month

Comment:

NASDAQ worked well with the zones. However, the price action was very choppy so after losing a trade, decided to stop trading and just observing price action. Two reasons:

1⃣ Did not want to give up the gains from DAX trades and the only winning trade of NASDAQ

2⃣ 1st Day of the month starting on a profitable note is very important for positive attitude, risk management & psychology

➡️ Overall 2 trades. 1 winning trade and 1 losing trade
➡️ 180 pts net gain on the day

Zone chart >>>

Green goblin chart >>>

Fibonacci confluence chart >>>