20210830 Trade Review DAX T2 - Bear Market Trader
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20210830 Trade Review DAX T2

20210830 Trade Review DAX T2

Play: Failed Auction

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

Mar­ket Narrative

There was a retest of new­ly formed D1 Bull Engulf C‑line. Trend is up 2/3. Open sen­ti­ment was on large imbal­ance 0.51xASR above val­ue, out­side range. Price was com­ing off from a H4 QLo rejec­tion and is trad­ing mid-swing. 

Click to Enlarge

What hypo was it?

Hypo 1

Mean Rever­sion, pos­si­ble weak­ness from with­in IBR

I ini­tial­ly fig­ured a Failed Auc­tion could be includ­ed although due to the open sen­ti­ment I refrained from includ­ing it. 

How was the Entry?

After the M15 Bear Engulf I wait­ed for a pull­back to new­ly formed M15 sup­ply. When the next M15 bar closed as a pos­si­ble Base as well I went short. This was good. 

How was the SL place­ment and sizing?

Tighter SL at 15 pips above the for­ma­tion and IB High.

How was the prof­it target?

2.9R at IB low. 

Click to Enlarge

How was the Exit?

Exit was time-based (kin­da). 0.7R.

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

2R would’ve been hit. Oth­er­wise 1.3R.

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

0.7R, 0.7R in over­lap noise. 2R hit in K TPO.

What did I do well?

I did well to change my bias and go against the ini­tial trade quite quickly. 

What could I have done better?

I could have stayed with the trade longer into over­lap noise. I had to make din­ner so I would not have been able to mon­i­tor the trade. Con­sid­er­ing if this is some­thing I might need to do. 



Missed Oppor­tu­ni­ty


TAGS: Above Val­ue, Out­side Range, Large Imbalance,

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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