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20210716 Missed Trade DAX

20210716 Missed Trade DAX

Play: Failed Auc­tion From With­in Value

#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.

Click to Enlarge

Rea­son for miss­ing the trade (explain the narrative)

Prev. Day Exceed­ed ADR by 1.24x. H4 con­sol­i­dat­ed at D1 50MA in UT and broke up. With the pre­vi­ous day hav­ing exceed­ed ADR and the gen­er­al long bias of equi­ties the sen­ti­ment was Bull­ish. Price opened with­in Val­ue and IB tra­versed high­er 0.52xASR. D extend­ed and closed above IB but did not coin­cide with a rejec­tion of val­ue. E TPO made a HH and then pro­ceed­ed to close with­in IB coin­cid­ing with a M15 Bear Engulf. 

The rea­son that I did not take this trade is because I did not include it in my hypos but also because there were 2 TPOs that extend­ed above IB mak­ing a Failed Auc­tion less prob­a­ble. Equi­ties hav­ing a long-bias, and trend is up 3/3. 

Even though at the time I did think this was going to run through IB due to the D1 nar­ra­tive. The D1 nar­ra­tive was a pos­si­ble Phase 4 and con­tin­u­a­tion to the move after a pull­back to H4 VWAP. 

What would have been the Entry?

Trade 1

DTTZ: 2nd

Entry Method: M15 Bear Engulf coin­cid­ing with M30 clos­ing with­in IB leav­ing a sell­ing tail in E. 

How was the SL place­ment and sizing?

Trade 1

SL place­ment: Slight­ly Tighter SL which wasn’t need­ed due to the size of the IBR. SL was above the formation. 

How was the prof­it target?

Trade 1

Prof­it tar­get: 2.5R at IB low with tighter SL placement

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

Trade 1

Exit: 2.5R

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

Trade 1

Exit: 2.2R, 2.8R at over­lap noise cut, although not valid because prof­it tar­get is IB low

TAGS: Prev. Day Exceed­ed ADR, Open With­in Val­ue, All-Time High, Pos­si­ble H4 Phase 3 to 4, Pos­si­ble D1 Phase 4, Trend is UP 3/3, 

Extra Obser­va­tions

After hav­ing made an All-Time high there can be a sell off look for signs on low­er timeframes.

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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