20210721 Trade Review DAX - Bear Market Trader
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20210721 Trade Review DAX

20210721 Trade Review DAX

Play: Sus­tained Auc­tion, Val­ue Edge Reversal

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

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Mar­ket Narrative

D1 Inside Bar at D1 demand with­in W1 demand, pos­si­bil­i­ty for a D1 Three Inside Up. Espe­cial­ly con­sid­er­ing the upward bias of equi­ties. H4 QLo was reject­ed and the trend is up 2/3. Open sen­ti­ment above val­ue favor­ing more upside as well. Probe of val­ue with a rejec­tion of val­ue through a bull engulf dur­ing IB. 

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How was the Entry?

C TPO extend­ing IB. Entry off break of IB. Although I wait­ed for the lit­tle sup­ply to get tak­en out first mak­ing a HH over Asia’s ses­sion. Which was not nec­es­sary as Asia is out of RTH and not as impor­tant for the EU session. 

How was the SL place­ment and sizing?

Stan­dard SL place­ment was okay. Expect­ing a sus­tained momen­tum move the place­ment wasn’t as important. 

How was the prof­it target?

2R at ADR exhaus­tion. With how DAX moves this was not implausible. 

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How was the Exit?

Exit was off the close of C TPO as ASR was almost exhaust­ed. Which didn’t mat­ter as there was still room to move to ADR exhaus­tion. With M15 sup­ply right above I thought to take my lit­tle prof­it of 0.7R and call it a day. I could have wait­ed for price action react­ing off the M15 sup­ply over­head before tak­ing off the trade. 

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

I would have tak­en 1–1.5. A M5 PA exit would have been 1.2R

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


What did I do well?

I did well to take the trade.

What could I have done better?

I could have wait­ed for price action to react off the sup­ply or ASR lev­el before decid­ing to take the trade off. There was no price action exit rule. 



Missed Oppor­tu­ni­ty


TAGS: Above Val­ue, Out­side Range, mod­er­ate Imbal­ance, Trend is UP 2/3, 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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