20220208 Trade Review DAX

Play: Sus­tained Auction

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

• Result
  • -1R
• Open Sen­ti­ment
  • 0.27xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
• IBR
  • 0.53xASR
• Hypo
  • 2
  • Late-Sus­tained Auction
• Attempt­ed Setup
  • Sus­tained Auction
• Entry Tech­nique
  • Break of IB
• SL place­ment
  • Aver­age SL (5500)
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 0h42m
• Long/Short
  • Long
• Lead­ing Narrative
  • Price reject­ed H4 QLo
  • Price trad­ing at D1 QLo (although weak­ly rejected)
  • Pos­si­ble H4 Phase 1
  • Price broke H4 sup­ply dur­ing IBR
  • Price closed above Asia and pre­vi­ous day high

Actu­al Development

• C closed as a RBR but right at IB high
• D TPO reversed and failed the auc­tion clos­ing as a Bear Engulf

Pros for the trade

• Price hav­ing reject­ed H4 QLo
• Pos­si­ble H4 Phase 1
• Price trad­ing at D1 QLo and some­what weak­ly reject­ed it
• Price broke and close dabove Asia and pre­vi­ous day
• Open above val­ue sen­ti­ment, although out­side range still a mod­er­ate to large imbalance

Cons for the trade

• Trend was down 2/3
• Pos­si­ble Larg­er time­frame bear­ish sentiment

Good points

• Tak­ing the trade
• Let­ting Stop get hit even though I saw M15 Clos­ing as a Bear Engulf with­in IB (can pos­si­ble track for future ear­ly exit man­age­ment but for now I con­tin­ue let­ting stops do its things)
• Right on direc­tion on the day

Bad Points

• Jumped the gun on the trade. Hypo 2 was late-sus­tained auc­tion entry and I entered on break of IB. FOMO. 
• Not tak­ing the Failed Auc­tion trade on the rever­sal If I had fol­lowed my plan I might have gone with the Failed Auc­tion short trade as per Hypo 3.

Next Day Analysis

• Stop hit?
  • Yes, ‑1R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.3R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is Down 2/3, 

Pre­mar­ket prep on the day: ‌

20220208 Pre­mar­ket Prep DAX

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