08 Dec 20211207 Trade Review DAX
Play: Sustained Auction
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- Open Sentiment
- 1.1xASR Above Value, Outside Range, Large Imbalance,
- Sustained Auction Long, Possible Strength From Within IBR
- Attempted Setup
- Sustained Auction Long
- Entry Technique
- Break of IB
- SL placement
- ASR Short (40)
- TPO period for Entry
- C TPO
- Trade Duration
- Leading Narrative
- D1 Three Inside Up at D1 QLo rejection and D1 demand
- Prev. Day Exceeded ADR by 1.03 (right at the border indicating possible further momentum)
- H4 speedbump and break higher, price taking out D1 supply in premarket
- Large Imbalance and IBR trading higher indicating further possible momentum
- Asia extended up, London Exhausted ADR, possible unidirectional day coming from D1 QLo rejection
Price showed a sustained auction then consolidated before continuing the direction during NY.
- Understanding the narrative and taking the trade
- Taking the wide IBR as an indication of momentum instead of responsive activity
- Slightly hesitating to get involved
- Forgot to take a screenshot of entry
Next Day Analysis
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Prev. Day Exceeded ADR, Above Value, Outside Range, Large Imbalance, Wide IBR,
Premarket prep on the day: