06 Oct 20211005 Trade Review DAX
Play: Value Edge Reversal
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- Below Value, Within Range, 0.23xASR, Moderate Imbalance
- Return to Value, Value edge reversal, possible Failed Auction short
- Attempted Setup
- Value Edge Reversal
- Entry Technique
- Pullback to newly formed supply within IBR after a slight extension in C TPO
- SL placement
- Standard size slightly above IB high
- TPO period for Entry
- C TPO
- Trade Duration
- Leading Narrative
- Trend is down 2/3. Open below value sentiment, within range
Price finally transitioned into a M30 Bullish Inside Bar and Three Outside Up and continuation higher forming a Neutral Day.
The actual opportunity was a Failed Auction long based off the open sentiment, nearby demand, prev. Day having exceeded ADR.
- Taking the trade. I felt a buildup of nerves coming on before the session. I was thinking about how well I did last month and how I was going to replicate that this month. All nonsense as the only thing I can control is taking ‘one good trade’ at a time a la Bella.
- Got my first trade out of the way. Took a loss and hey… not dead! On to the next.
- Forgot to measure previous day ADR exceeding the average by 1.33x implying a potential retracement ie. more long-biased
- Marubozu candle implies momentum, a retracement implies the lack thereof
- Took the trade during C TPO. I do better during D TPO or at least wait for the C TPO close.
Next Day Analysis
- Target hit?
- No, ‑1R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Below Value, Within Range, Moderate Imbalance, Prev. Day Exceeded ADR,
Premarket prep on the day: