2022 Nov 15 NASDAQ NOTE* Trade MISSED
Reason: Market did not reach the initial zone I was looking for before shooting to the upside as soon as the news, PPI event came out at 1330 UTC time. Note this is a major news event for the USD that came out negative for the USD, ultimately putting NASDAQ in the POSITIVE direction.
Nevertheless the confluences for this missed entry is as follows:
Macro
Daily - Strong bullish price action momentum
4h - Previous 4 hourly candle closed above the previous week's daily highs (during london session)
- Once the new 4h started to form (US open) it started ABOVE the previous week high
- bullish trend market condition
Micro
15min - was looking for a retest off of the previous day's US session high zone (monday) but obviously it was never reached
Fundamental
- US Core PPI YoY for the Dollar came out NEGATIVE -> Positive directional path for NASDAQ
Nevertheless the confluences for this missed entry is as follows:
Macro
Daily - Strong bullish price action momentum
4h - Previous 4 hourly candle closed above the previous week's daily highs (during london session)
- Once the new 4h started to form (US open) it started ABOVE the previous week high
- bullish trend market condition
Micro
15min - was looking for a retest off of the previous day's US session high zone (monday) but obviously it was never reached
Fundamental
- US Core PPI YoY for the Dollar came out NEGATIVE -> Positive directional path for NASDAQ
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