23 Oct 20211022 Missed Trade DAX
Play: Strength From Within IBR / Value Edge Reversal after a probe outside of value
#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
- Open Within Value, Balancing Market
- Strength From Within IBR (wrong terminology for this setup still working on a different name) Perhaps a Value Edge Reversal after a probe outside of value.
- Proposed Entry Technique
- LTF entry off M Three Outside Up to M5 consolidation
- SL Placement
- Standard SL (30)
- TPO period for Entry
- D TPO
- Trade Duration
- 2 hours
- Leading Narrative
- W1 Bull Engulf the previous week closing at W1 Supply Base level indicating a potential for continuation
- Potentially developing W1 base following the W1 Bull Engulf (which could make sense for the move to happen on Friday)
- 5‑day bracketing range where the last two days have widening values indicating a possible move coming up
- Newly formed H4 Bull Engulf C‑dem within Value, price tests it coinciding with a test of value edge
- Upward bias in equities
- Reason for missing the trade
- Trading right into D1 QHi (after already having taken a trade that didn’t pan out. Hindsight is 20/20 they say but I must’ve timed it wrong).
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
- Target hit?
- Coming up with the trade idea
- Seeing the move develop in line with trade idea
- Logging trade idea to keep track of for future opportunities
- Hesitating to take the trade and consequently not taking it
TAGS: Open Within Value, Balancing Market
Premarket prep on the day