2023 Jan 17 NAS100USD

١٧ يناير ٢٠٢٣

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.

١٧ يناير ٢٠٢٣

أغلقت الصفقة: تم الوصول لوقف الخسارة

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)