20220301 Trade Review Gold

Play: Val­ue Rejec­tion / Late-Sus­tained Auction

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

• Result
  • 0.4R
• Open Sen­ti­ment
  • Open With­in Value
  • Bal­anc­ing Market
  • Asia formed a Neu­tral Day but trad­ed higher
• IBR
  • 0.47xASR
• Trend
  • Trend is up 2/3
  • H4: Down
  • D1: Up
  • W1: up
• Hypo
  • Hypo 2
  • Long
  • Late-Sus­tained Auction
• Attempt­ed Setup
  • Late-Sus­tained Auction
• Entry Tech­nique
  • C TPO clos­ing above IB and VAH (after open inside) tech­ni­cal­ly reject­ing value
  • D TPO pulled back to IB High
  • Mar­ket order on pullback
• SL place­ment
  • Stan­dard SL (500)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 0h12m
• Long/Short
  • Long
• Lead­ing Narrative
  • Trend is UP 2/3
  • Rus­sia conflict
  • C TPO clos­ing con­fi­dent­ly above IB and VAH reject­ing value
  • Inverse cor­re­la­tion with DAX hav­ing a sus­tained auc­tion down

Actu­al Development

• D TPO closed above IB and VAH as a Neu­tral Inside Bar. Evne though dur­ing D TPO there was a weak-ish M15 Bear Engulf, it did not fail the auc­tion and what fol­lowed was a some­what medi­um auc­tion crawl higher
• E TPO com­plet­ed a RBR again with a Marubozu candle
• F closed high­er to 1.8R before mak­ing a slight HH in G and pulling back almost tak­ing out SL lev­el but then pro­ceed­ed to trade higher

Good points

• Wait­ing for the set­up to devel­op and then tak­ing the trade

Bad Points

• Not adher­ing to my exit rules. Fear of los­ing profits. 
• I start­ed to think about it being unusu­al for a val­ue rejec­tion around these lev­els (D1 D1/MN QHi) and I have seen price form a Marubozu can­dle to then just reverse. 
• Nonethe­less, tak­ing a ‑1R is not the end of the world. Either take the stop or take the tar­get. I have shown I can do this and over time I make great trades and have great results. Let the stats take over and let the trade do its thing. Regard­less win or lose. 

Next Day Analysis

• Tar­get hit?
  • No, 0.4R
• Time-based Exit?
  • 0.8R
• Over­lap Noise?
  • 1.2R
• End of Day?
  • 6R
• High­est R multiple?
  • 6R

TAGS: Trend is UP 2/3, Open With­in Val­ue, Bal­anc­ing Market, 

Pre­mar­ket prep on the day: ‌

20220301 Pre­mar­ket Prep Gold

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