Bear Market Trader | Trade Review
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20210615 Trade Review GOLD NY

20210615 Trade Review GOLD NY

Play: Failed Auction

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

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Mar­ket Narrative

Pos­si­ble D1 Phase 4. H4 Phase 4, formed a BUll Engulf at H4 200MA with­out con­tin­u­a­tion high­er. Instead a con­sol­i­da­tion in line with pos­si­ble D1 Bear­ish nar­ra­tive. Also price com­ing from W1/D1 QHi rejection.

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How was the Entry?

Entry was good off the C TPO clos­ing as a Bear Engulf with­in IB fail­ing auction.

How was the SL place­ment and sizing?

Stan­dard size SL. I could have scaled slight­ly bet­ter expect­ing a push behind the failed auc­tion move. This would have result­ed in a bet­ter R multiple.

How was the prof­it target?

1.2R at IB low. Again, this could have been slight­ly bet­ter if I had scaled my SL and siz­ing a bit better. 

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How was the Exit?

Exit was okay. Although I could have wait­ed for a full move through IB to IB low but due to LTF demand at IB low I decid­ed to take the trade off at 1R. Price pro­ceed­ed to test IB low.

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

1.2R at IB low

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


What did I do well?

I did well to under­stand the nar­ra­tive and take the trade.

What could I have done better?

If nit­pick­ing I could have let the trade go on slight­ly longer but due to LTF demand and being ina DD I think I did well to take profits. 


Failed auc­tion from with­in value

Missed Oppor­tu­ni­ty


TAGS: Pos­si­ble D1 Phase 4, H4 Phase 4, Open With­in Value, 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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