06/08/2022 NQM2022 POTENTIAL BUY SETUP
We have a Bullish higher time frame bias in mind and have a draw on liquidity at the 12945.25 price level. We are currently looking for a buy setup and are waiting to see what London session will give us. We will look back at the chart and get ready to hunt for a setup after 8:30am EST
Nota
Best trading opportunity would have been on the 1m chart
Confluence:
-Sellside raided
-Market broke a short term high indicating Bullish MSS
-Price traded back into the FVG
-SL where the Bullish OB is and the TP would have been the previous imbalance
KEY POINTS:
I did not see a respectable RR until I got down to the 1m chart and sometimes it is okay to not enter a trade if the RR is not 3:1 or above.
Overall, I would not have participated in this trade because in my mind I would have aimed for the lowest fruit that is hanging but that left me with a 2.45:1 RR. I am not fully confident in my trading to look for longer profit targets just because I have not spent enough time learning and studying price action.
Nota
Just to add this trade was a 5:1 RR if the imbalance high would have been used as a profit target
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.