24 Nov 20211123 Trade Review Gold
Play: Late-Sustained Auction Entry
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #Gold #XAUUSD
- Open Sentiment
- 1.78xASR Below Value, Outside Range, Huge Imbalance,
- Prev. Day Exceeded ADR by 1.86
- 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
- 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
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.
- 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.
- 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.
Next Day Analysis
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Prev. Day Exceeded ADR, below value, outside range, huge imbalance, Trend is UP 2/3,
Premarket prep on the day: