SPX500USD 2023 09 08
Updated
Bias: Longs
R:R 4:1
Confluences
Macro
Weekly - Break and Retest off of Q2 High key level zone @ price area 4460.0
Daily - Structural retest off of said key level (Q2 High) this key level is also considered as a Daily
Key level as well
Daily - Daily Fair Value Gap filled and encroachment area retested from yesterday's candle
4h - Timeframe Fair Value Gap filled and encroachment area retested as well
Micro
1h/30m - Break above symmetrical triangle market pattern on intra day timespan.
30m/15m - Yesterday's US session zone (Thursday) used as entry zone
5m - entered the market at this timeframe
Remarks: Besides the Fair Value Gap fill on the 4 hour chart there is not much else confluences on this timeframe to further strengthen this trade's bias (Longs).
R:R 4:1
Confluences
Macro
Weekly - Break and Retest off of Q2 High key level zone @ price area 4460.0
Daily - Structural retest off of said key level (Q2 High) this key level is also considered as a Daily
Key level as well
Daily - Daily Fair Value Gap filled and encroachment area retested from yesterday's candle
4h - Timeframe Fair Value Gap filled and encroachment area retested as well
Micro
1h/30m - Break above symmetrical triangle market pattern on intra day timespan.
30m/15m - Yesterday's US session zone (Thursday) used as entry zone
5m - entered the market at this timeframe
Remarks: Besides the Fair Value Gap fill on the 4 hour chart there is not much else confluences on this timeframe to further strengthen this trade's bias (Longs).
Comment
Monitoring the rest of position on the 4h chart ONLY.Trade closed: stop reached
Bias may still be valid but stops on entry were already tapped.
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