20210628 Trade Review DAX - Bear Market Trader
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20210628 Trade Review DAX

20210628 Trade Review DAX

Play: Rever­sal at Val­ue Edge (fail)

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

Mar­ket Narrative

There was an open 0.05xASR above val­ue, with­in range. Mod­er­ate Imbal­ance with close prox­im­i­ty to val­ue edge. FF trad­ed low­er, after which IB made a big swing up and down and accept­ed val­ue in C. I did not see this as I had changed my TPO siz­ing. I thought price was con­sol­i­dat­ing at val­ue edge and with the open sen­ti­ment being above I expect­ed a move high­er. Had I seen the accep­tance of val­ue I would not have tak­en this trade. 

How was the Entry?

Along the lines of my think­ing with­out know­ing the accep­tance of val­ue I thought the entry was good. It was based off a M15 Bull Engulf at val­ue edge with near­by demand. Also, I wait­ed for 2 hours in line with the FF move to poten­tial­ly get in on the reversal. 

How was the SL place­ment and sizing?

SL place­ment was a stan­dard size and well below the formation. 

How was the prof­it target?

How was the Exit?

M15 failed to close high­er and even though it was a weak bear engulf it coin­cid­ed with M5 fail­ing to break above M5 VWAP in DT. Scratched the trade for ‑0.2R.

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

I took a PA-bsed exit at ‑0.2R

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

-1R stop being hit as quick­ly after price moved down rotat­ing through value.

What did I do well?

I did well to take the trade. If there was no ear­li­er accep­tance this would have been a per­fect­ly fine trad­ing idea. 

What could I have done better?

I could have paid more atten­tion to the TPO siz­ing. I now have a rule to base my analy­sis on scale 1 of TPO siz­ing for both DAX as well as Gold as these tend to make huge profiles.


Dax seems to like accept­ing val­ue then fail­ing the auc­tion and move higher. 

Missed Oppor­tu­ni­ty

Click to Enlarge

TAGS: Above Val­ue, With­in Range, Mod­er­ate Imbal­ance, Extend­ed Frankie Fakeout, 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim racer/Pilot.

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