2023 Jan 18 XAUUSD
Mis à jour
Risk/Reward 5:1
Confluences
Macro
Weekly - Las week candle closed confidently above 1903.500 which is a major weekly key level zone
Daily - Yesterday's and todays candle(s) both supported off of said key level weekly key level of 1903.500
4h - Strong recent bullish run from last night London session. Indicating a transition from a bearish market condition to a Bullish market condition, breaking and closing above three recent structural highs on this timeframe, will be expecting a new creation of a higher low during US session today.
Micro
15m - Monday and Tuesday US session(s) used as entry zone
5m - Bullish support candle closure off of the said US session zone as entry point.
Remarks:
One thing that I need to be aware of is that entry is right below a Daily Key level of 1920.000 this key level is also the previous week high. This could mean that the market could may very well reject this Daily key level and stop this trade out.
Reason of taking the entry regardless:
Due to the retest off of 1903.500 Weekly key level on the Daily timeframe, the weekly key level is a stronger key level than that of a Daily key level. Since the Weekly timeframe takes precedence over the Daily timeframe this is the reason why the entry was still placed. But nevertheless since entry is STILL right below a Daily key level this could mean my entry can still be stopped out.
Confluences
Macro
Weekly - Las week candle closed confidently above 1903.500 which is a major weekly key level zone
Daily - Yesterday's and todays candle(s) both supported off of said key level weekly key level of 1903.500
4h - Strong recent bullish run from last night London session. Indicating a transition from a bearish market condition to a Bullish market condition, breaking and closing above three recent structural highs on this timeframe, will be expecting a new creation of a higher low during US session today.
Micro
15m - Monday and Tuesday US session(s) used as entry zone
5m - Bullish support candle closure off of the said US session zone as entry point.
Remarks:
One thing that I need to be aware of is that entry is right below a Daily Key level of 1920.000 this key level is also the previous week high. This could mean that the market could may very well reject this Daily key level and stop this trade out.
Reason of taking the entry regardless:
Due to the retest off of 1903.500 Weekly key level on the Daily timeframe, the weekly key level is a stronger key level than that of a Daily key level. Since the Weekly timeframe takes precedence over the Daily timeframe this is the reason why the entry was still placed. But nevertheless since entry is STILL right below a Daily key level this could mean my entry can still be stopped out.
Trade fermée: ordre d’arrêt atteint
As a result, the market did in fact reject the Daily Key level of 1920.500
Clause de non-responsabilité
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