20211028 Trade Review Gold

29 Oct 20211028 Trade Review Gold

Play: Sus­tained Auction

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

• 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

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: ‌

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