Bear Market Trader | Trade Review
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20210618 Trade Review GOLD

20210618 Trade Review GOLD

Play: Failed Auction

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

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Mar­ket Narrative

Price opened 0.58xASR Below Val­ue, With­in Range. Price then test­ed val­ue before clos­ing as a M30 Bear Engulf with­in IB fail­ing auc­tion. A big con was that there was a weak sell­ing tail and prefer­ably this should have been longer. 

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How was the Entry?

Right on the close of the Bear Engulf in D. 

How was the SL place­ment and sizing?

SL place­ment was good as it was right above the for­ma­tion not exceed­ing the stan­dard SL size. 

How was the prof­it target?

2R at IB low

Click to Enlarge

How was the Exit?

I got stopped out (down ‑1R) as price did not tra­verse down. This was evi­dent in price fail­ing to probe low­er. Usu­al­ly a Failed Auc­tion goes quite quick. 

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

N.A. Got stopped out.

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


What did I do well?

I did well to take the trade based on a  test of val­ue and failed auction

What could I have done better?

I think I did well to try a trade. Now I know the weak sell­ing tail could have war­rant­ed a fur­ther inves­ti­ga­tion of OODA loops to see if there was a con­tin­u­a­tion down. 


Failed Auc­tion play should prefer­ably have a longer selling/buying tail. 

Missed Oppor­tu­ni­ty


TAGS: D1 Phase 4, Trend is Down 2/3, Below Val­ue, With­in Range,

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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