20220111 Trade Review DAX

Play: Late-Sus­tained Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #DAX #DE30 #DE30Cash

• Result
  • 1R
• Prod­uct
  • DAX
• Open Sen­ti­ment
  • Open With­in Value
• IBR
  • 0.48xASR
• Hypo
  • Hypo 2
  • Long
  • Late-sus­tained auc­tion entry
  • Risky, price trad­ing right into H4 sup­ply, price would need to extend high­er and hold above IB prefer­ably tak­ing out LTF supply
• Attempt­ed Setup
  • Late-sus­tained auction
• Entry Tech­nique
  • Break of IB with C extend­ing quite a bit above IB, pull­back to IB high
• SL place­ment
  • ASR Short SL 30 pips
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 0h09m
• Long/Short
  • Long
• Lead­ing Narrative
  • Val­ues in DT, open with­in val­ue, trend is up 2/3, 
  • B TPO clos­ing above Asia
  • Momen­tum exten­sion in C TPO

Actu­al Development

• C TPO closed above IB
• D extend­ed and closed high­er reach­ing 1R and I closed the trade

Good points

• Tak­ing the trade although it was not a great trad­ing idea. I might have been right on the gen­er­al direc­tion of the day this was not the way to go long. A strength from with­in IBR would’ve been the way to go. 

Bad Points

• this was a BAD TRADING IDEA
• I DID NOT WAIT for C TPO to close above IBR to con­firm a pos­si­ble rejec­tion before enter­ing. I entered 2 min­utes before close of C TPO.
• Trad­ing right into H4 sup­ply as well as ASR 0.5 high not pro­vid­ing much of a prof­it tar­get. The actu­al play would’ve been the rever­sal at ASR 0.5 high
• Trad­ing right into D1 QHi

Next Day Analysis

• Tar­get hit?
  • No, but I still took 1R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 1R

TAGS: Open With­in Val­ue, Bad Trad­ing Idea, 

Pre­mar­ket prep on the day: ‌

20220111 Pre­mar­ket Prep DAX

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