20211028 Trade Review Gold - Bear Market Trader
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20211028 Trade Review Gold

20211028 Trade Review Gold

Play: Sus­tained Auction

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

Click to Enlarge
  • Result
    • -1R
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 0.92xASR Above Val­ue, Out­side Range, Large Imbalance
  • IBR
    • 0.18xASR
  • Hypo
    • 1
    • Mean Rever­sion, Sus­tained Auc­tion Down
  • Attempt­ed Setup
    • Sus­tained Auction
  • Entry Tech­nique
    • Break of IB. I was con­sid­er­ing an entry from with­in IBR as there was a M30 DBD form­ing but break of IB was good enough.
  • SL place­ment
    • ASR SL: 325
    • ASR Short SL: 177
    • Used a 30 pip SL on this one. If I had used a tighter SL of 25 pips my tar­get of 2R would have reached. 
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 3h27m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Large Imbal­ance at the open
    • Price trad­ing at H4 QHi
    • Price trad­ing with­in D1 Supply

Click to Enlarge

Actu­al Development

Price extend­ed and closed low­er. Auc­tion was sus­tained through E and F TPO. G TPO failed to make a LL leav­ing a slight buy­ing tail in F and clos­ing as a Bull Engulf and revers­ing price to with­in IB and extend to the oppo­site side tak­ing out my SL and form­ing a Neu­tral Day.

Good points

  • Tak­ing the trade even though M30 VWAP was right below
  • Stay­ing with the trade even though see­ing the trade go to 1.8R and price react­ing strongly
  • Under­stand­ing that if I had a tighter SL my 2R tar­get would’ve hit and I could have tak­en an Auc­tion Fade trade at the 2nd DTTZ that I was stalk­ing (even though due to pos­si­ble sub 2R tar­get might not have tak­en due to cur­rent trad­ing rules). Sad­ly I was still in a trade. 

Bad Points

  • Not hav­ing a tighter SL. I believe espe­cial­ly at the 1st DTTZ I could have tighter stops. Espe­cial­ly if the SL can be placed above IB when tak­ing a break off IB to the oppos­ing side as an exten­sion to the oth­er side would negate the premise of a sus­tained auction. 

Next Day Analysis

  • Tar­get hit?
    • No, ‑1R
  • Time-based Exit?
    • 0.5R
  • Over­lap Noise?
    • 0.3R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 1.8R

TAGS:  Above Val­ue, Out­side Range, Large Imbal­ance, Trend is UP 2/3, 

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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