22 Dec 20211221 Trade Review DAX
Play: Failed Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- 0.95xASR Above Value, Outside Range, Large Imbalance,
- Return to Value, reversal, possible Failed Auction Long
- Attempted Setup
- Failed Auction
- Entry Technique
- M15 Bullish Inside Bar closing within IB
- SL placement
- Standard SL (37)
- TPO period for Entry
- E TPO
- Trade Duration
- Leading Narrative
- IB traversed down 0.7xASR towards VAH (no touch), wide IBR, possibility for responsive activity
- Trading at W1 demand and new H4 demand after D1/H4 QLo rejection
- Previous day closed as a long D1 Pinbar, possible developing D1 Three Outside Up
- M15 Bullish Inside Bar transitioned into a Bullish M30 Inside Bar closing right at the previous bear engulf
- Price proceeded to close higher (closed as H1 bull engulf) and eventually completed the failed auction by hitting IB high before forming a Neutral Day and climbing even higher
- Taking the trade even though having a M30 bear engulf in the way
- Could’ve possibly let the trade actually hit the IB high target and get 2.5 but all good 2R is good enough.
Next Day Analysis
- Target hit?
- Yes, 2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Above Value, Outside Range, Large Imbalance, Trend is Down 2/3,
Premarket prep on the day: