Daily analysis and trade setups on DAX Ger30 20220728

Happy GDP Day

DAX has been in a bit of consolidation since 19th July. A strong news can break it out of that range. Current outlook is turning bullish but I would remain careful.

A break above 13380 will set strong bullish direction if it continues after that

Bears have hard work in front of them to break 13070, 13000 & 12810

Macro: EUR business climate, consumer confidence, HICP, US GDP, Jobless Claims

Mostly scalp trades unless a strong directional move comes

Buy
Break: 12270, 13350, 13450
Reversal: 13140, 13080, 12990, 12920

Sell
Break: 13200, 13100, 12990
Reversal: 13270, 13350, 13450, 13600

Chart with Fib levels >>>

Chart with Green Goblins >>>

Chart with confluence levels >>>

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This is how my daily analysis levels performed today

5 Trades
4 Winning trades with 3:1 R/R
1 Losing trade with 1R
Net 11R if you traded with 3:1 R/R

Note to self: The yellow box is too big for DAX's current range. Need to be more precise. Will improve as learn more about DAX's behaviour