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20210707 Trade Review DAX - Bear Market Trader
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20210707 Trade Review DAX

20210707 Trade Review DAX

Play: M30 QHi Reversal

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

Mar­ket Narrative

Pre­vi­ous day tra­versed 1.5xADR down. Expectan­cy is for this day to trade high­er. Which it did dur­ing FF and IB (which opened with­in Val­ue). A closed above VAH fol­lowed by some mean­der­ing with­out break­ing IB con­firm­ing the val­ue rejec­tion. After price had already retraced most of the pre­vi­ous day’s range price halt­ed at W1 Sup­ply after exhaust­ing ADR.

Click to Enlarge

How was the Entry?

Price trad­ed at M30/M15 QHi and at 1st DTTZ, D TPO there was a M15 Bear Engulf clos­ing below the QHi. The plan was to wait for a tran­si­tion into a M30 Bear Engulf clos­ing with­in value. 

How was the SL place­ment and sizing?

Stan­dard SL size. 

How was the prof­it target?

I was aim­ing for a 1R+ tar­get at IB Low even though it wasn’t a failed auction

Click to Enlarge

How was the Exit?

Exit was good as M30 failed to close with­in val­ue so I expect­ed this con­sol­i­da­tion above VAH to take price high­er. Which it did. ‑0.3R.

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

-0.3R

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

-1R

What did I do well?

I did well to try and take the trade as well as stay­ing objective. 

What could I have done better?

I did very well here.

Obser­va­tions

On respon­sive days we can us swing highs/lows togeth­er with ADR/ASR exhaus­tion for a pos­si­ble reversal. 

Fail­ure to close with­in val­ue is a counter move to the trade. 

Missed Oppor­tu­ni­ty

N.A.

TAGS: Open With­in Val­ue, Prev. Day Exceed­ed ADR, Trend is up 2/3,  

Pre­mar­ket prep on the day

Dai­ly Report Card on the day

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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