07 Jan 20220105 Trade Review DAX
Play: Sustained Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- Ambiguous open although 0.05xASR Above Value, Outside Range
- Sustained Auction Long
- Attempted Setup
- Sustained Auction
- Entry Technique
- Break of IB
- SL placement
- Standard SL at 35 pips
- TPO period for Entry
- C TPO
- Trade Duration
- Leading Narrative
- Possible D1 Phase 2, no slow down within D1 QHi
- Prev. Day Exceeded ADR by 1.07, possible momentum
- H4 consolidation and break higher in premarket
- Moderate Imbalance, above value, within range
- IBR formed Rally then Base with longer buying wick, expectation is for another Rally completing a RBR
- Price extended above IB and quite quickly hit 1R which was my target due to the time of year
- Price continued higher hitting 2.3R before reversing at ADR exhaustion, nearing the take out of W1 supply but also coinciding with a D1 supply.
- Taking the trade
- Taking an early exit based on ADR exhaustion above, time of the year and overhead D1 supply
- Didn’t abide by 2R exit rule, but I think that’s okay
- D1 supply in the way of a 2R target
- I did not take the reversal based on the ADR exhaustion although I was thinking the supply could get popped first before a possible reversal so let it go.
Next Day Analysis
- Target hit?
- Yes, 1R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Above Value, Within Range, moderate Imbalance, Prev. Day Exceeded ADR,
Premarket prep on the day: