14 Aug 20210813 Missed Trade DAX
Play: Sustained Auction
#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 continuation to the D1 Phase 2. Trend is up 3/3 and the open was 0.05xASR Above value, within range, on moderate imbalance. There was H4 demand at VAH which was a good bounce level for IB to trade higher off the open.
I missed the trade as I am a bit conservative in buying the ‘top’ of the market. Equities being equities, plus all timeframes indicating a long bias combined with the open sentiment I should have gone long.
What would have been the Entry?
Entry Method: Break off IB otherwise a M5 consolidation and break higher that coincided with a M30 Base expecting a RBR.
How was the SL placement and sizing?
SL placement: Standard SL sizing would have been good.
How was the profit target?
Profit target: Price came near 2R but didn’t quite hit it. 1.8R was the most.
What would a price action-based exit have done for the trade?
Exit: I would have taken anything getting close to 2R. Price action would have been 1R off the M15 Bearish Inside Bar.
What would a time-based exit have done for the trade?
Exit: 0.6R, 1R at overlap noise
TAGS: Above Value, Within Range, Moderate Imbalance,
Premarket prep on the day
Daily Report Card on the day