20220111 Trade Review Gold - Bear Market Trader
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20220111 Trade Review Gold

20220111 Trade Review Gold

Play: Rever­sal

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #Gold #XAUUSD 

Click to Enlarge
  • Result
    • 1.2R
  • Prod­uct
    • Gold
  • Open Sen­ti­ment
    • 0.64xASR Above Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
  • IBR
    • 0.14xASR
    • Very tight IBR
  • Hypo
    • Hypo 1
    • Short
    • Mean Rever­sion, sus­tained auction
    • If IBR can tra­verse high­er into D1 sup­ply and ful­fil cri­te­ria before revers­ing that would be preferred
    • Price needs to extend with­in the first 2 hours
  • Attempt­ed Setup
    • Rever­sal
  • Entry Tech­nique
    • Re-test of new­ly formed M30 Bear Engulf (dur­ing B TPO) and exten­sion in C TPO
  • SL place­ment
    • Aver­age SL 25 pips
  • TPO peri­od for Entry
    • C TPO
  • Trade Dura­tion
    • 1h06m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Price con­sol­i­dat­ing on M30 at D1 Sup­ply with a 0.64xASR mod­er­ate to large imbal­ance open sentiment
    • H1 show­ing slowdown
    • Trend is down 2/3

Click to Enlarge

Actu­al Development

  • C TPO closed with­in IBR, after dip­ping above form­ing a Neu­tral day, as a consolidation
  • D closed as a bear engulf below IBR break­ing down from consolidation
  • E closed low­er then pulled back to IB low before con­tin­u­ing down dur­ing NY open

Click to Enlarge

Good points

  • Tak­ing the trade even though very tight IBR and even though hav­ing a slight­ly tighter SL still clear­ing much above IBR due to wait­ing for a bet­ter entry with­in IBR after C TPO had extended

Bad Points

  • Trade would’ve hit 2R
  • Due to the tight IBR it was more like­ly for price to retrace first (as I have observed this before, also M5 was show­ing signs of a pos­si­ble test of sup­ply before con­tin­u­ing) So could’ve had a slight­ly bet­ter entry at a re-test of M5/M15 sup­ply but this is nitpicking
  • Did not take the Auc­tion Fade Long due to being engaged otherwise

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, 1.2R
  • Time-based Exit?
    • 1R
  • Over­lap Noise?
    • 0.6R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 2.9R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is DOWN 2/3, Tight IB, Neu­tral Day,

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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