20210614 Trade Review GOLD - Bear Market Trader
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20210614 Trade Review GOLD

20210614 Trade Review GOLD

Play: Failed Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #GOLD

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Mar­ket Narrative

Huge Imbal­ance on the open sen­ti­ment and price extend­ed below pop­ping D1 demand. The pop­ping of the demand cre­at­ed a LTF rever­sal short enough to hop on for a Failed Auc­tion play.

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How was the Entry?

The entry was good on a slight pull­back to the M30 Bull­ish Inside Bar. Expectan­cy is a Three Out­side Up formation.

How was the SL place­ment and sizing?

SL place­ment was good due to the expectan­cy of price to move high­er due to the failed auc­tion. Cut­tin through wicks is allowed then to get a bet­ter R mul­ti­ple based on the IBR. 

How was the prof­it target?

Based on the IBR the R mul­ti­ple was good as IB high would have yield­ed 2.5R. 

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How was the Exit?

Exit was good as I am in a slight draw­down and 1R trades are allowed. I decid­ed to cut the trade off for 1.5R at M15 Sup­ply coin­cid­ing with M15 VWAP in DT. 

What would a price action-based exit have done for the trade?

To me this was price-action based.

What would a time-based exit have done for the trade?

It would have stopped out the trade as price quick­ly reversed and trad­ed low­er. ‑1R.

What did I do well?

I did well to take the trade 

What could I have done better?

I could have been bet­ter with stalk­ing the trade. I was fid­get­ing around with FX syn­er­gy. For every TPO close I will make sure that for the last 5 min­utes I will be focus­ing on the close. 


D1 Demand Popped showed anoth­er LTF rever­sal before con­tin­u­ing in the same direction.

Missed Oppor­tu­ni­ty


TAGS: Pos­si­ble D1 Phase 4, H4 Phase 4, Trend is UP 2/3, D1 Demand Popped, Huge Imbal­ance, Below Val­ue, Out­side Range, M30 Bull­ish Inside Bar, M30 Three Out­side Up, 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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