20211112 Trade Review Gold - Bear Market Trader
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20211112 Trade Review Gold

20211112 Trade Review Gold

Play: Sus­tained Auction

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

Click to Enlarge
  • Result
    • 2R
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 0.11xASR Below Val­ue, With­in Range
  • IBR
    • 0.37xASR
  • Hypo
    • 3
    • Sus­tained Auc­tion Short
  • Attempt­ed Setup
    • Sus­tained Auction
  • Entry Tech­nique
    • Pull­back to IB edge to join the sus­tained auction
  • SL place­ment
    • Tighter SL well above entry can­dle 30 pips
  • TPO peri­od for Entry
    • C TPO
  • Trade Dura­tion
    • 1h22m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Arrival at W1/D1 QHi
    • Open below val­ue, with­in range, sentiment
    • Fri­day profit-taking

Click to Enlarge

Actu­al Development

C TPO closed below IB but with longer buy­ing wick. D TPO closed as a Bull­ish Inside Bar with a short sell­ing wick tech­ni­cal­ly fail­ing the auc­tion. How­ev­er, due to the D1/W1 and Fri­day prof­it-tak­ing nar­ra­tive it proved be a base as E TPO closed as anoth­er drop. Con­tin­ued in F TPO before reversing. 

Good points

  • Going against the strong uptrend due to open sen­ti­ment and time of day/week
  • I didn’t enter on break of IB but wait­ed for a re-test of IB edge (approx­i­mate­ly) before enter­ing. I have this ten­den­cy to let a trade go when I think there was a bet­ter entry (in hind­sight I was wrong about this ear­ly entry dur­ing IB). What was good that I still took the trade afterwards.

Bad Points

  • Not tak­ing the Auc­tion Fade trade after­wards with sup­port­ing H4 demand due to only 1+R prof­it tar­get. I know I should just focus on 2R trades but as I was stalk­ing the trade I thought I could’ve pulled the trig­ger on it. The trade would’ve hit 2R but that is not the sta­tis­ti­cal­ly viable tar­get for an Auc­tion Fade. In hind­sight I am think­ing that this wasn’t an Auc­tion Fade set­up rather a rever­sal at demand lev­el and using the auc­tion fade with­in OODA loops to mon­i­tor the trade. 

Auc­tion Fade — Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, 2R
  • Time-based Exit?
    • 1.1R
  • Over­lap Noise?
    • -0.3R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 2.8R

TAGS: Below Val­ue, With­in Range, Mod­er­ate Imbal­ance, Trend is UP 3/3, 

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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