25 Jan 20220124 Trade Review Gold
Posted at 05:14h in Bad Trading Idea, Failed Auction, Gold Trade Review, Late-Sustained Auction Entry, Sustained Auction, Trade Reviews, Trades Taken 0 Comments
Play: Late-Sustained Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #Gold #XAUUSD
- Open Sentiment
- 0.17xASR Above Value, Within Range
- Moderate Imbalance
- Late-sustained auction entry
- Risky due to trading into D1 QHi so price would need to take out and close above previous day’s high
- Possible entry off re-test of IB high
- Attempted Setup
- Late-Sustained Auction entry
- Entry Technique
- Re-test of IB high after C TPO close above taking out LTF supply
- SL placement
- Standard SL placement (30)
- TPO period for Entry
- D TPO
- Trade Duration
- Leading Narrative
- Moderate Imbalance with open above value sentiment
- C TPO closing above IB taking out LTF supply
- Weak D1 Evening Star with W1 Three Outside Up preceding, potential for new D1 supply to get taken out
- D TPO closed as a Bearish Inside Bar failing the auction and what followed was a rotation through IBR
- A reversal followed by a Failed Auction would have yielded 1.7R which was the play I should’ve taken
- Waiting for the trade to develop (although not completely as listed under bad points) before getting involved
- C TPO did close above IB taking out LTF supply although it did not hold above yesterday’s high as was my plan
- M15 showed a reversal although a weak M15 Evening Star a reversal nonetheless
- Trading at H4/D1 QHi
Next Day Analysis
- Target hit?
- No, ‑1R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Moderate Imbalance, Above Value, Within Range, Mixed Trend,
Premarket prep on the day: