20220125 Trade Review Gold

Play: Late-Sus­tained Auction

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

• Result
  • 1.2R
• Prod­uct
  • Gold
• Open Sen­ti­ment
  • Open With­in Value
  • Bal­anc­ing Market
• IBR
  • 0.42xASR
  • Nor­mal IBR
• Hypo
  • 1
  • Short
  • Late-Sus­tained Auction
• Attempt­ed Setup
  • Late-Sus­tained Auction
• Entry Tech­nique
  • Break of IB in C TPO, M15 closed below IB and price re-test­ed IB Low
• SL place­ment
  • Nor­mal SL (25)
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 1h14m
• Long/Short
  • Short
• Lead­ing Narrative
  • Price trad­ing at D1 QHi and formed a pos­si­ble rever­sal (coin­cid­ing with MN/W1 sup­ply), although fol­lowed by a Bull Engulf that is high in the dis­tri­b­u­tion curve
  • Price extend­ed below dur­ing C TPO com­ing from M30 QHi
  • Even though open with­in val­ue sen­ti­ment, price trad­ed at the top of the range with a mixed trend

Actu­al Development

• C TPO closed below IB
• D TPO closed as a Grave­stone Doji (pos­si­ble continuation)
• E TPO formed a weak DBD not mak­ing a LL
• F TPO burst low­er hit­ting 1.2R tar­get before revers­ing higher

Good points

• Tak­ing the trade

Bad Points

• Not in line with the dom­i­nant direc­tion of the day’s narrative
• Apart from D1 demand (that is high in dis­tri­b­u­tion curve) there was a H4 demand I was trad­ing right into
• There was an open with­in val­ue sen­ti­ment and more infor­ma­tion was need­ed as C TPO had not yet closed below IB so I jumped the gun on the trade. Lit­tle FOMO there although I did wait for M15 to close below and wait­ed for a re-test of IB Low.
• Got lucky here

Next Day Analysis

• Tar­get hit?
  • Yes, 1.2R
• Time-based Exit?
  • 0.3R
• Over­lap Noise?
  • 0.2R
• End of Day?
  • -1R
• High­est R multiple?
  • 1.3R

TAGS: Open With­in Val­ue, Bal­anc­ing Mar­ket, Mixed Trend, 

Pre­mar­ket prep on the day: ‌

20220125 Pre­mar­ket Prep Gold

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