15 Sep 20210914 Missed Trade Gold
Play: Value Acceptance to 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.
Reason for missing the trade (explain the narrative)
There was a possible D1 DBD implication through consolidation below D1 QHi after it got rejected. Larger timeframe is bearish still as well. Price opened on moderate imbalance, 0.20xASR Above Value, Outside Range.
I didn’t take the trade as it was trading right into demand and with a standard SL placement I could not get a good profit target as the opposing demand would have yielded only 1R.
What hypo was it?
Sustained Auction Short, variation to Hypo 1 (trading right into demand)
I was spot on here.
What would have been the Entry?
Entry Method: Entry at value edge after C closed as a Hammer/Pinbar
How was the SL placement and sizing?
SL placement: Standard size
How was the profit target?
Profit target: 2R target was reached
What would a price action-based exit have done for the trade?
What would a time-based exit have done for the trade?
Exit: 1.3R, 0.9R in overlap noise, End of day was overruled by 2R target being hit.
TAGS: Above Value, Outside Range, Moderate Imbalance, Trend is UP 2/3,
Premarket prep on the day
Daily Report Card on the day