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20210810 Missed Trade DAX - Bear Market Trader
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20210810 Missed Trade DAX

20210810 Missed Trade DAX

Play: Val­ue Edge Reversal

#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)

There was a D1 Neu­tral day the pre­ced­ing day. H4 closed as a Bull Engulf although in pre­mar­ket. There was an open inside val­ue but the trend was up 3/3. Price trad­ed above val­ue dur­ing IB but nev­er extend­ed. Price pulled back to val­ue edge and con­sol­i­dat­ed above VAH. 

I was still feel­ing a bit off and I did not stalk the trade prop­er­ly and went to do some­thing else. 

What would have been the Entry?

Trade 1

DTTZ: 2nd

Entry Method: M5 Bull Engulf, tran­si­tion to M15 Three Inside Up, although an ear­li­er entry could have been pos­si­ble per­haps as well. Based off the M5 pinbar. 

How was the SL place­ment and sizing?

Trade 1

SL place­ment: Scaled SL siz­ing below the M15 demand would have sufficed.

How was the prof­it target?

Trade 1

Prof­it tar­get: 1.4 at IB high although expectan­cy was for a pos­si­ble slow move high­er although being late into the ses­sion as well as trad­ing dur­ing August a more con­ser­v­a­tive of 1R would have been okay. 

Click to Enlarge

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

Trade 1

Exit: 0.4R off the poten­tial M15 Bear­ish Inside Bar

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

Trade 1

Exit: 0.6R, 0.7R in over­lap noise after going to 1R

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

Extra Obser­va­tions

A con­sol­i­da­tion at val­ue edge with­out a close with­in val­ue (regard­less of open sen­ti­ment) can indi­cate a bounce in the out­ward direction. 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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