20210827 Trade Review DAX - Bear Market Trader
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20210827 Trade Review DAX

20210827 Trade Review DAX

Play: Weak­ness From With­in IBR

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

Mar­ket Narrative

There was a D1 Bear Engulf with fol­low-through clos­ing with­in D1 demand. A H4 Three Inside Up with a base formed in pre­mar­ket. The ses­sion opened with­in val­ue test­ing new­ly formed H4 demand and made an effort to probe above val­ue. IB failed to extend to the upside and start­ed revers­ing. C closed as a Bear Engulf at LTF Sup­ply / VAH. 

I failed to enter off the close of C TPO and wait­ed for more con­fir­ma­tion as there was still that afore­men­tioned demand with­in val­ue at VAL.

Click to Enlarge

What hypo was it?

Hypo 5

Weak­ness with­in IBR

Ini­tial­ly I was long-biased due to it being equi­ties and trad­ing with­in D1 demand and hav­ing made a new H4 demand with­in it. 

Click to Enlarge

How was the Entry?

Not the best. I entered in late as I was hes­i­tant to short equi­ties as well as trad­ing right into demand. When I saw that E closed as a pin­bar I sus­pect­ed a con­tin­u­a­tion rather than a rever­sal to form a DBD for­ma­tion. This did hap­pen after which price kin­da strug­gled to push fur­ther down. 

How was the SL place­ment and sizing?

It was tighter than a stan­dard SL place­ment so that was good. What was also good was that it was placed above IB high. Although I am think­ing I could have poten­tial­ly had a tighter SL place­ment. But all in all not bad still. If I had that first entry I would have def­i­nite­ly had a tighter stop. 

How was the prof­it target?

2R at IB Low although due to respon­sive activ­i­ty I would have con­sid­ered tak­ing 1R.

Click to Enlarge

How was the Exit?

Price hit 0.6R at the max and I let it go try­ing to be patient. When at my nor­mal cut-off time the M15 closed as a Bear­ish Inside Bar I decid­ed to give it some more time going into over­lap noise. When at the close of I TPO there was still no push down I decid­ed it was enough and took 0.2R. YAAAYYY LAMBOS FOR EVERYONE. 

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

0.5R, although price would’ve reached 1.3R which I would’ve tak­en but this came deep­er into the over­lap noise and I was already out. 

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

This was a time-based exit. 0.2R.

What did I do well?

I did well to take the trade, even lat­er, as I under­stood it was the right play to go with. 

What could I have done better?

I could have entered off the M30 Bear Engulf in C as an open with­in val­ue will often play/bounce off near­by LTF/ASR/ADR levels.



Missed Oppor­tu­ni­ty


TAGS: Open With­in Val­ue, Bal­anc­ing Mar­ket, Trend is UP 2/3,

Pre­mar­ket prep on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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