20 Jan 20220119 Trade Review DAX
Play: Value Acceptance
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- Open Sentiment
- 0.54xASR Below Value, Outside Range
- Moderate to Large Imbalance
- Wide IBR
- Hypo 1
- Value Acceptance, monitor for continuation although H4 c‑sup above VAH
- Attempted Setup
- Value Acceptance
- Entry Technique
- M15 candle close within Value
- SL placement
- Standard size (35), sadly cutting through the body of the entry candle but due to expecting momentum this can be forgiven
- TPO period for Entry
- B TPO
- Trade Duration
- Leading Narrative
- Prev. Day Exceeded ADR by 1.82
- Price trading at W1 demand and started reacting
- M15 candle during B TPO closed within Value in an 2/3 uptrend
- B TPO closed within value followed by a RBR hitting 1.2R
- Taking the trade even though having supply at VAH and wide IBR
- Could’ve let the trade go on longer but due to the time of year I decided to stick with the 1.2R rule for now
Next Day Analysis
- Price ended up developing a very big H4 Bull ENgulf during the LN session then pulled back at the end of the day forming a Neutral near-Doji signaling a possible continuation unless the next day closes higher.
- Target hit?
- Yes, 1.2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Below Value, Outside Range, Trend is UP 2/3, Moderate to Large imbalance, Prev. Day Exceeded ADR,
Premarket prep on the day: