20210715 Missed Trade DAX

16 Jul 20210715 Missed Trade DAX

Play: Uni­di­rec­tion­al Day Weak­ness from with­in IBR, Val­ue Rejec­tion Down

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #DAX #DE30 #DE30Cash #missed­trade

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.

Rea­son for miss­ing the trade (explain the narrative)

Asia trad­ed down and con­tin­ued dur­ing London’s IB. IB tra­versed 0.78xASR down after it opened with­in val­ue. W1 had made an all-time high but then fal­tered. D1 Closed down with a weak D1 Three Out­side Down. Pos­si­ble H4 Phase 3 so expec­ta­tions favor a tran­si­tion to H4 Phase 4.

I missed the trade because I was for­ward test­ing the nar­ra­tive as I don’t have much expe­ri­ence on this. That, but also because C closed as a tech­ni­cal failed auc­tion through a Bull Engulf clos­ing with­in IB. 

What would have been the Entry?

Trade 1

DTTZ: 1st DTTZ

Entry Method: M15 Bear­ish Inside Bar at M15 VWP in DT / M5 Bear Engulf at M5 VWAP/LKC in DT

How was the SL place­ment and sizing?

Trade 1

SL place­ment: About stan­dard size SL would have been nice­ly above the M15 formation

How was the prof­it target?

Trade 1

Prof­it tar­get: 1.4R at IB low, trade even­tu­al­ly went up to 3.7R

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

Trade 1

Exit: There was a M15 Bull Engulf after test­ing IB low that could have been an exit at 0.2R. Although due to the bear­ish sen­ti­ment this could be negat­ed as price just test­ed new­ly formed M15 sup­ply and con­tin­ued down reach­ing 2R.

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

Trade 1

Exit: 2.1R, 3.7R in over­lap noise

TAGS: All-time High, open with­in val­ue, weak­ness from with­in IBR, Trend is UP 3/3, pos­si­ble H4 Phase 3, Asia trad­ed down, 

Extra Obser­va­tions

Expect­ing a uni­di­rec­tion­al day we can look for weak­ness from with­in IBR

Pre­mar­ket prep on the day

20210715 Pre­mar­ket Prep DAX

Dai­ly Report Card on the day

How did I trade today? 20210715

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