20210909 Missed Trade Gold - Bear Market Trader
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20210909 Missed Trade Gold

20210909 Missed Trade Gold

Play: Sus­tained Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #Gold #XAUUSD #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.

Click to Enlarge

Rea­son for miss­ing the trade (explain the narrative)

There was a D1 Three Out­side Down reject­ing D1 QHi with a slight con­tin­u­a­tion. The mar­ket opened 0.79xASR Below Val­ue, Out­side Range, Mod­er­ate to Large imbal­ance, IB then trad­ed up and extend­ed on momen­tum in C TPO as per a mean rever­sion. Even though mean rever­sion wasn’t quite hit at the open there was still more of a prob­a­bilis­tic bias towards a move towards val­ue edge. 

The rea­son I missed it was I couldn’t fit a good prof­it tar­get to val­ue edge. I cal­cu­lat­ed my SL should be about 30 pips but now I know I could’ve used a tighter stop. The rea­son for this being is that instead of tak­ing the com­plete Aver­age Ses­sion Range I should’ve tak­en note of the range from open till noon. This would have been below the 100 pip bar­ri­er that allows for tighter stops. This is a new ‘con­cept’ to me and there­fore I did not apply this rule to this set­up. I was indeed stalk­ing this trade but yeah… sub­par prof­it tar­get I thought so let it go. 

What hypo was it?

Hypo 3

Sus­tained Auc­tion Long

Based on the nar­ra­tive I pre­ferred oth­er plays over this one but this was the play dur­ing the ses­sion. All good here. 

What would have been the Entry?

Trade 1


Entry Method: IB Break Entry

How was the SL place­ment and sizing?

Trade 1

SL place­ment: 20 pips to cal­cu­late for the tighter range and prof­it tar­get to val­ue edge.

How was the prof­it target?

Trade 1

Prof­it tar­get: 2R at VAL and this was hit 

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

Trade 1


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

Trade 1


TAGS: Below Val­ue, Out­side Range, Mod­er­ate to Large imbalance,

Extra Obser­va­tions

Mean rever­sion cri­te­ria doesn’t nec­es­sar­i­ly have to be hit at the open to war­rant a move to val­ue edge. 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim Racing Enthusiast.

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