20210618 Trade Review DAX

22 Jun 20210618 Trade Review DAX

Play: Failed Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #GBPNZD

Mar­ket Narrative

0.06xASR Above Val­ue, With­in Range, Mod­er­ate Imbal­ance. Price accept­ed and rotat­ed through val­ue hit­ting LTF demand. Extend­ed in C then closed with­in IB dur­ing D and E. 

How was the Entry?

In hind­sight not the best. I went off a M5 Bull Engulf, M15 RBR near­ing 2nd DTTZ for a failed auc­tion play. In hind­sight the failed auc­tion should have already hap­pened at this point and thus was ques­tion­able to say the least. 

How was the SL place­ment and sizing?

Good scaled based on M15 formation

How was the prof­it target?

Would have been good due to Wide IB range 2+R

How was the Exit?

Got stopped out for ‑1R

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

N.A.

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

N.A.

What did I do well?

I did well to try a trade. I haven’t real­ly tried trad­ing DAX as much so I am giv­ing it anoth­er go.

What could I have done better?

I could have bet­ter noticed that the failed auc­tion was actu­al­ly not work­ing out and not go long. With DAX being Equi­ties, and 2nd DTTZ, I kin­da thought there could be a move back up. 

Obser­va­tions

Failed Auc­tions need to hap­pen quick­ly by the end of the next TPO. 

Missed Oppor­tu­ni­ty

N.A.

TAGS: Above Val­ue, With­in Range, Trend is UP 3/3, Mod­er­ate Imbalance, 

Pre­mar­ket prep on the day

20210618 Pre­mar­ket Prep DAX

Dai­ly Report Card on the day

How did I trade today? 20210618

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