Bear Market Trader | Missed Trade Review
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20210715 Missed Trade GBPNZD

20210715 Missed Trade GBPNZD

Play: Failed Auction

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

Click to Enlarge

Rea­son for miss­ing the trade (explain the narrative)

Prev. Day Exceed­ed ADR x1.8, more like­ly to retrace in an elas­tic band way. Near­by W1/D1/H4 demand. Open with­in val­ue prob­ing below val­ue. C extend­ed down before clos­ing with­in IB as an Inside Bar leav­ing a buy­ing tail (although unconfirmed). 

I was stalk­ing this trade but I missed as I visu­al­ized a more bull­ish PA to enter in on. When it was an inde­ci­sive M30 Inside Bar I decid­ed to let the trade go. 

I could have had more con­vic­tion behind the move due to trad­ing loca­tion and D1 nar­ra­tive exceed­ing ADR the pre­vi­ous day. 

What would have been the Entry?

Trade 1

DTTZ: 1st

Entry Method: Based off M30 Inside Bar, M5 price fal­ter­ing and clos­ing higher. 

How was the SL place­ment and sizing?

Trade 1

SL place­ment: Stan­dard SL siz­ing would have been well below the formation. 

How was the prof­it target?

Trade 1

Prof­it tar­get: About 1.9R at IB high

Click to Enlarge

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

Trade 1

Exit: 1.9R

Click to Enlarge

I would have tak­en 1–1.5R as I am cur­rent­ly in DD.

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

Trade 1

Exit: 1.9R

TAGS: Prev. Day Exceed­ed ADR, open with­in val­ue, Trend is UP 3/3,

Extra Obser­va­tions

When price exceeds ADR the next day price likes to retrace in an elas­tic band kind of way. 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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