20210616 Missed Trade Gold NY

Play: Failed Auction

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

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)

Pos­si­ble D1 Phase 4, H4 con­sol­i­da­tion and break down. Open with­in val­ue. D TPO probes above val­ue and then closed as a Bear­ish Inside Bar fail­ing auction. 

I missed the trade because the buy­ing wick had near­ly gone through all of IB so let the trade go. This and FOMC com­ing out lat­er I thought there could be chop in the markets. 

What would have been the Entry?

D TPO extend­ing above fail­ing auc­tion clos­ing as a Bear­ish Inside Bar. 

How was the SL place­ment and sizing?

SL place­ment would have been just above the body of D TPO

How was the prof­it target?

2R at IB low

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

2R

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

N.A.

TAGS: Pos­si­ble D1 Phase 4, Trend is UP 2/3, H4 Con­sol­i­da­tion, Open With­in Value,

Extra Obser­va­tions

Failed Auc­tion with­in value

Pre­mar­ket prep on the day

NY Pre­mar­ket Prep Gold 20210616

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Dai­ly Report Card on the day

How did I trade today? 20210616

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