14 Oct 20211013 Trade Review DAX
Play: Auction Fade
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- Within Value
- Attempted Setup
- Auction Fade
- Entry Technique
- M15 consolidation closing within Demand
- SL placement
- Standard size
- TPO period for Entry
- Trade Duration
- 3.5 hours
- Leading Narrative
- There was a sustained auction that left behind a single print in C TPO. After which price slowed down and started building structure. This way I gathered a possible auction fade could be in the cards.There was also a nearby D1 Supply as wel as D1 VWAP in DT.
Price slowly grinded closing higher. In the overlap noise there was a quick burst down followed by an equally quick burst closing higher taking out my SL.
Price went down testing Structure Low (as I have observed many times and I considered taking the trade off but am not allowed) before continuing its move higher. This happens often in a sustained auction.
- Taking an albeit risky trade. Sometimes they work. Sometimes they don’t.
- Feeling like I should be taking a trade. I shouldn’t care what other people ‘might’ think. If I missed the opportunity due to not being at my desk. I should wait for a good opportunity otherwise no trade. I think I did that but I could’ve done better. Which brings me to:
- No strong price action to warrant the reversal for an Auction Fade
- Price had extended quite a bit leaving single prints in C indicating strength behind the move and thus making an auction fade less likely.
Next Day Analysis
- Target hit?
- No, ‑1R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Open Within Value, Mixed Trend,
Premarket prep on the day: