US Nas 100Short
2023 Jan 17 NAS100USD
Updated
Risk/Reward
TP1 ~ 3:1
TP2 ~ 6:1
TP3 ~ 9:1
Confluences
Macro
Daily - Previous Daily candle closed BELOW a Daily Key level and Previous Week high @ price zone 11530.0
Daily - Break and Retest off of recent consolidating structure, bottom structure of the consolidating area is ABOVE the said Daily Key level at said price zone of 11530.0
Micro
2h - Double top market pattern, currently the market is retesting the neckline of said double top
15m - Last week Thursday US session zone AND this week Monday's US session used as entry retest zone on this timeframe
15m/5m - Bearish rejection candle closure used as entry candle
Remarks:
DID NOT WAIT for 4h timeframe structure/confluence. Macro confluence is deviated ONLY from the DAILY timeframe. This may potentially cause the trade to become stopped out.
TP1 ~ 3:1
TP2 ~ 6:1
TP3 ~ 9:1
Confluences
Macro
Daily - Previous Daily candle closed BELOW a Daily Key level and Previous Week high @ price zone 11530.0
Daily - Break and Retest off of recent consolidating structure, bottom structure of the consolidating area is ABOVE the said Daily Key level at said price zone of 11530.0
Micro
2h - Double top market pattern, currently the market is retesting the neckline of said double top
15m - Last week Thursday US session zone AND this week Monday's US session used as entry retest zone on this timeframe
15m/5m - Bearish rejection candle closure used as entry candle
Remarks:
DID NOT WAIT for 4h timeframe structure/confluence. Macro confluence is deviated ONLY from the DAILY timeframe. This may potentially cause the trade to become stopped out.
Trade closed: stop reached
As I was expecting, since I DID NOT wait for the 4h structure to be in confluence with the Daily timeframe, this is what had caused me to get stopped out.What to improve:
PATIENCE!!! (wait for 4h to line up with the daily and vise versa)
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