2022 Nov 15 SPX500 *TRADE STOPPED OUT

2022年11月16日

Risk/Reward 6:1

Bias: LONGS

Confluences for this trade is as follows:
Macro
Daily - Previous strong bullish leg indicating strong presence of buyers in the market
4h - Bullish trend market condition
- market timeframe retesting previous market structure highs

Micro
1h/30m - Market retesting previous bullish rectangle market structure (bullish continuation market pattern)
15m - market timeframe retesting US 15m zone
15m/5m - candle closure price action as entry candle

Remarks: the market broke past the previous week daily highs so I didn't expect price to shoot back down past the previous daily highs zone. Nevertheless it did end up happening at the end of US session.

What to look for in the near future: a couple of big news events release tomorrow morning 30m into us session, and these will ultimately be the major factors(s) that will decide what direction SPX500 will go. In conclusion, bias for tomorrow's potential trade will be neutral up until news release.