20211123 Trade Review Gold - Bear Market Trader
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20211123 Trade Review Gold

20211123 Trade Review Gold

Play: Late-Sus­tained Auc­tion Entry

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

Click to Enlarge
  • Result
    • 2R
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 1.78xASR Below Val­ue, Out­side Range, Huge Imbalance, 
    • Prev. Day Exceed­ed ADR by 1.86
  • IBR
    • 0.55xASR
  • Hypo
    • 3
    • Sus­tained Auc­tion Short
  • Attempt­ed Setup
    • Sus­tained Auction
  • Entry Tech­nique
    • Late-sus­tained auc­tion entry: C TPO closed below IB. D extend­ed fur­ther down. When D TPO pulled back to near IB low I joined the sus­tained auction. 
  • SL place­ment
    • Stan­dard size (40)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 3h28m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Huge imbal­ance
    • D1, H4 phase 4
    • No arrival at QLo (yet)
    • Price hold­ing below IB and pre­vi­ous day’s low
    • Range left in ADR
    • Asia Formed a Neu­tral Day, extend­ed up then pre­dom­i­nant­ly trad­ed down

Actu­al Development

D TPO closed as a Ham­mer, E closed down and fol­lowed into a DBD. I TPO formed a Bull Engulf with no con­tin­u­a­tion as H4 had closed con­fi­dent­ly down the price con­tin­ued low­er hit­ting 2R.

Good points

  • Tak­ing the trade
  • Hes­i­tat­ed entry on break of IB due to C TPO clos­ing as a Marubozu below IB but with price trad­ing at round num­ber with a huge imbal­ance. Want­ed a bit more con­fir­ma­tion which came lat­er. Good that I entered then. 

Bad Points

  • I think I did well but per­haps I could’ve entered on a break of IB. I still think it was the best call due to trad­ing at round num­ber and near­by demand. 

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, 2R
  • Time-based Exit?
    • 0.7R
  • Over­lap Noise?
    • 0.2R
  • End of Day?
    • 1.7R
  • High­est R multiple?
    • 3.8R

TAGS: Prev. Day Exceed­ed ADR, below val­ue, out­side range, huge imbal­ance, Trend is UP 2/3, 

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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