24 Sep 20210923 Missed Trade DAX
Play: Failed Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash #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.
- Open Sentiment
- 1.11xASR Above Value, Outside Range, Large Imbalance
- Reversal, possible Failed Auction Short
- Failed Auction
- Proposed Entry Technique
- G TPO spiked and then closed as a M30 Three Inside Down, Entry on the close.
- SL using slightly tighter to fit IBR for a 2R target using a 30 pip stop
- TPO period for Entry
- H TPO
- Trade Duration
- 2.5–3 hours till 2R target at IB Low
- Reason for missing the trade
- At the time I couldn’t manage a 2R target so I opted out of the trade as I thought a subpar target is allowed on Failed Auctions but my current rules dictate I can’t exit without hitting 2R. So I let it go. I know now I could’ve entered with a slightly tighter stop as outlined in this review.
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
- Target hit?
- Good that I was stalking the trade
- Good that I opted not to trade it as I couldn’t manage a good 2R target at the time
- After G TPO closed I knew the trading idea was still valid and I could’ve tried a short nonetheles.
TAGS: Above Value, Outside Range, Large Imbalance, Trend is Down 2/3,
Large Imbalance, nearby D1 Supply, H4 Phase 4 can still warrant a short-term failed auction.
Premarket prep on the day