20210805 Trade Review DAX T2 - Bear Market Trader
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20210805 Trade Review DAX T2

20210805 Trade Review DAX T2

Play: Failed Auction

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

Mar­ket Narrative

There was an open with­in val­ue which is more con­ducive to a failed auc­tion. D ducked above IB slight­ly before fail­ing the auc­tion in E TPO clos­ing as a Bear Engulf. 

Click to Enlarge

How was the Entry?

After I cut off my first trade (bad trade idea) on the close of E TPO, I wait­ed for a slight pull­back to new­ly formed sup­ply. This was off the M30 Bear Engulf before going short. This was great. 

How was the SL place­ment and sizing?

SL place­ment was tighter due to not need­ing a large SL as it was placed just above the for­ma­tion. If price had moved high­er to this lev­el it would have inval­i­dat­ed my trad­ing idea anyway. 

How was the prof­it target?

2.6R at IB Low. 1.7R at M30 demand at IB low / VAH

Click to Enlarge

How was the Exit?

Exit was okay as I had a pre­vi­ous loss and price trad­ed at M5 LKC near­by 200MA as well as H1 demand. I took 1.2R. Price didn’t real­ly extend much fur­ther down after­wards anyway. 

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

Time-based would have over­ruled. 1R. 1.2R at Over­lap noise. 

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

1R. 1.2R at Over­lap noise. 

What did I do well?

I did well to stay clear-head­ed after tak­ing a loss. Under­stand the sit­u­a­tion and wait for a pull­back to get a bet­ter entry before get­ting involved. Then I did well to let the trade work because it took some time for the trade to make its move. When it did I let it go on a bit before hit­ting a LTF exit signal. 

What could I have done better?

I did well here. 



Missed Oppor­tu­ni­ty


TAGS: Open With­in Val­ue, Trend is UP 3/3, 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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