14 Nov 20211112 Trade Review Gold
Posted at 10:11h in Auction Fade, Gold Trade Review, Late-Sustained Auction Entry, Sustained Auction, Trade Reviews, Trades Taken 0 Comments
Play: Sustained Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #Gold #XAUUSD
- Open Sentiment
- 0.11xASR Below Value, Within Range
- 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
- Leading Narrative
- Arrival at W1/D1 QHi
- Open below value, within range, sentiment
- Friday profit-taking
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.
- 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.
- 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.
Next Day Analysis
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Below Value, Within Range, Moderate Imbalance, Trend is UP 3/3,
Premarket prep on the day: