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20210817 Trade Review DAX T2 - Bear Market Trader
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20210817 Trade Review DAX T2

20210817 Trade Review DAX T2

Play: Frankie Fake­out to Val­ue Acceptance

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

Mar­ket Narrative

D1 sup­ply was formed and the open sen­ti­ment was below val­ue and with­in range. A con­tin­u­a­tion was pos­si­ble. Although with trend being up 2/3 and close prox­im­i­ty to val­ue edge a val­ue accep­tance was more likely. 

Click to Enlarge

What hypo was it?

Hypo 1

Val­ue Accep­tance, sus­tained auc­tion long

Click to Enlarge

How was the Entry?

I wait­ed for a M15 accep­tance of val­ue. Then I wait­ed for a pull­back which didn’t real­ly come as much. I was hop­ing for a re-test of VAL before going long but when I saw M5 unable to pull­back fur­ther down I just went long. This was good. 

Although it could have been bet­ter. Due to the nature of equi­ties and the Frankie Fake­out I could have gone long before wait­ing for a con­fir­ma­tion of accep­tance of val­ue. In oth­er assets this is a big no-no. Along these lines I could have entered on the close of the M30 RBR and got­ten a bet­ter entry. 

Bet­ter Entry

Click to Enlarge

How was the SL place­ment and sizing?

Stan­dard siz­ing. Although I should have scaled my stop better. 

If I had that bet­ter entry I could have eas­i­ly got­ten a 2R prof­it tar­get with bet­ter scal­ing of the stop at about 15 pips. 

How was the prof­it target?

Prof­it tar­get was tillLTF sup­ply at ASR exhaus­tion and wasn’t much on my entry and SL scal­ing. Again if I had used bet­ter scal­ing this could have been bet­ter. Even more so with that bet­ter entry. 

Click to Enlarge

How was the Exit?

When price hit LTF sup­ply with­in val­ue I took 0.6R. Basi­cal­ly scratch­ing on the dat at ‑0.1R with the first bad trade.

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

0.6R

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

0.3R

What did I do well?

I did well to quick­ly change my bias and wait for price action to con­firm said bias and then exe­cute on it.

What could I have done better?

I know now that I could have entered ear­li­er as was instruct­ed by my men­tor Dee based on the Frankie fake­out there was no need to wait for accep­tance of value. 

Obser­va­tions

Equi­ties and Frankie Fake­out can supercede the con­di­tions of a val­ue acceptance. 

Missed Oppor­tu­ni­ty

N.A.

TAGS: Below Val­ue, With­in Range, Mod­er­ate Imbal­ance, Extend­ed Frankie Fake­out, Strength from with­in IBR,

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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