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20210616 Missed Trade WTI Crude

20210616 Missed Trade WTI Crude

Play: Sus­tained Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #missed­trade #oil #crude #WTI #USoil

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.

Click to Enlarge

Rea­son for miss­ing the trade (explain the narrative)

First time watch­ing EIA inven­to­ries come out. It was bull­ish news.

0.26xASR Above Val­ue, Out­side Range (slight­ly). Price probed val­ue edge dur­ing IB. D extend­ed above IB then closed with­in as a Bull Engulf.

What would have been the Entry?

IB exten­sion in D

How was the SL place­ment and sizing?

SL below for­ma­tion body

How was the prof­it target?

Trad­ing right into the new­ly formed H4 sup­ply could have been negat­ed as it was a Three Inside Down. WHen price retraces a for­ma­tion like this it has a high­er prob­a­bil­i­ty of fail­ing and poten­tial­ly mov­ing higher.

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

2R would have hit

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

N.A.

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to large Imbal­ance, News Report, Trend is UP 3/3,

Extra Obser­va­tions

N.A.

Pre­mar­ket prep on the day

Dai­ly Report Card on the day

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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