Risk/Reward
TP1 ~ 3:1
TP2 ~ 7:1
Confluences
Macro
Weekly - Timeframe support off of a Monthly/Weekly key level at price zone 12100.0 - 12000.0
4h - Downtrend trendline has now been broken and is now currently retesting it, an indication of a market condition transition from bearish to bullish.
4h - recent market structure high broke past previous structural high, creating a new higher high indicating that the current downtrend has been broken
Micro
15m - last week Wednesday US session zone and Tuesday US session zone used as entry zone as it is in-tune with the current counter trend retest.
15m/5m - Bullish support candle(s) off of said entry zone used as entry point.
Remarks: Very clean setup on the 4h chart, was definitely super obvious.