20210615 Missed Trade Gold NY - Bear Market Trader
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20210615 Missed Trade Gold NY

20210615 Missed Trade Gold NY

Play: Auc­tion Fade, 3‑I setup

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #Gold #XAUUSD #missed­trade

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These are trades I could have tak­en but for some rea­son I did not. This could be due to me not pay­ing atten­tion or sim­ply not feel­ing like trad­ing. This is usu­al­ly the case when I am not in the right state of mind due to lack of sleep, per­son­al issues, etc.

Rea­son for miss­ing the trade (explain the narrative)

I want­ed to take it easy and quit ear­ly due to an ear­ly morn­ing appoint­ment the next day. 

There was an open inside val­ue and a quick probe above IB dur­ing C that then failed auc­tion. The expectan­cy was for a pos­si­ble 3‑I set­up if price extend­ed to the oppo­site side and formed a Neu­tral Day. Which it did. Price then start­ed con­sol­i­dat­ing on M5 and then start­ed it’s incline to IB edge.

What would have been the Entry?

DTTZ: 1st

Entry Method: Man­u­al. M15 Morn­ing Star, or for an even bet­ter entry the M5 con­sol­i­da­tion with­out even wait­ing for a strong fin­ish­er. Hav­ing a Neu­tral Day there is less like­li­hood for a momen­tum burst in the direction. 

How was the SL place­ment and sizing?

SL and siz­ing could have been scaled due to the nature of the setup.

How was the prof­it target?

0.8R at IB low, although it could have eas­i­ly been 1R if with a M5 entry.

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


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


TAGS: Open With­in Val­ue, 3‑I day, Neu­tral Day

Extra Obser­va­tions


Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim racer/Pilot.

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