20211019 Trade Review Gold - Bear Market Trader
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20211019 Trade Review Gold

20211019 Trade Review Gold

Play: Rever­sal

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

Click to Enlarge
  • Result
    • 2R
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 0.92xASR Above Val­ue, Out­side Range, Large Imbalance
  • IBR
    • 0.36xASR
  • Hypo
    • 2
    • I named it Failed Auc­tion Short but I should have called it a Reversal
  • Attempt­ed Setup
    • Rever­sal
  • Entry Tech­nique
    • Weak M30 Bear Engulf, M15 con­sol­i­da­tion and break down
  • SL place­ment
    • 30 pips. Tighter than stan­dard SL (38) as SL was placed well above IB.
  • TPO peri­od for Entry
    • E TPO
  • Trade Dura­tion
    • 1h51m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Large Imbal­ance at the open. Price trad­ing at H4 VWAP and UKC. Pos­si­ble H1 Evening Star formed above H1 UKC in DT. Larg­er time­frame bear­ish sentiment.

Click to Enlarge

Actu­al Development

Price tran­si­tioned to H1 Evening Star and pro­ceed­ed to close low­er on LTF extend­ing to the oppo­site side form­ing a Neu­tral Day.

Good points

  • Tak­ing the trade even though the­o­ret­i­cal­ly in my mind I missed the ‘best entry’.
  • Wait­ing for slight­ly more con­fir­ma­tion after M15 DBD failed to close below the consolidation.

Bad Points

  • Could’ve been more aggres­sive and tak­en the entry off the close of the M15 DBD. Bet­ter even a re-test of new­ly formed M15 sup­ply as a mean rever­sion in the ‘text­book’ sense was not in the card ie. not hap­pen­ing in the first two hours so this was a nor­mal rever­sal near ADR lev­el and a test of new­ly formed SD could’ve been in the cards. This didn’t mat­ter as I did not need to fit a 2R tar­get based on a Failed Auc­tion setup. 
  • Let­ting the 1 TPO above IB exten­sion in one of the tog­gle set­tings con­fuse and let me hesitate. 
  • Mis­take this trade for a Failed Auc­tion where­as this was a rever­sal and the FA (very weak by the way) was a con­firm­ing OODA-loop factor.
  • Just noticed I took the trade off based on a tighter SL on my oth­er plat­form and in fact this was only 1.6R… muppet…I guess in this case it actu­al­ly helped…

Next Day Analysis

  • Tar­get hit?
    • Yes, 2R
  • Time-based Exit?
    • 0.7R
  • Over­lap Noise?
    • 0.9R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 1.7R

TAGS: Above Val­ue, Out­side Range, Large Imbal­ance, Mixed Trend,

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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