Bear Market Trader | Trade Review
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20220302 Trade Review Gold

20220302 Trade Review Gold

Play: Late-Sus­tained Auction

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

Click to Enlarge
  • Result
    • 1.2R
  • Open Sen­ti­ment
    • 1.09xASR Above Val­ue, Out­side Range
    • Large Imbal­ance
    • Asia extend­ed low­er but then con­se­quent­ly trad­ed high­er, pos­si­ble Frankie Fakeout
  • IBR
    • 0.56xASR
  • Trend
    • Trend is UP 2/3
    • H4: Down
    • D1: Up
    • W1: Up
  • Hypo
    • 1
    • Short
    • Mean Rever­sion, Late-sus­tained auc­tion due to M30 Bull Engulf in the way
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • D TPO extend­ed below IB, M15 had formed a Bull Engulf but fol­lowed by a M15 Bear­ish Inside Bar and a pos­si­ble M15 base. The con­se­quent devel­op­ing DBD extend­ed IB. On a Pull­back to IB I went short with a full position.
    • When price dove deep­er into IBR test­ing devel­op­ing M15 RBR I decid­ed to cut my posi­tion in half and re-enter with anoth­er position
    • Sad­ly I entered with anoth­er full posi­tion so had to cut half of this one as well as to have 1R risk on the table. 
  • SL place­ment
    • Stan­dard SL (500)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 0h52m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Prev. Day Exceed­ed ADR by 1.37
    • Open sen­ti­ment: 1.09xASR Above Val­ue, Out­side Range
    • Open at H4 Sup­ply, H4 QHi

Click to Enlarge

Actu­al Development

  • D TPO closed below IB and then low liq­uid­i­ty dur­ing E TPO smashed tar­get and even­tu­al­ly accept­ed val­ue and rotat­ed through

Good points

  • Tak­ing the trade
  • I was some­what patient and focused on oth­er things while the trade was developing
  • Good that I real­ized I could get a bet­ter entry and cut off siz­ing to add more at a bet­ter price
  • I believe due to the lack of liq­uid­i­ty my demo plat­form bro­ker cut off the trade at a high­er price (due to wider spread) orig­i­nat­ing in a low­er prof­it. Luck­i­ly my real bro­ker has a fixed spread and cut it off accord­ing­ly at the target. 

Bad Points

  • In my prep I wrote I would wait for a close below IB before get­ting involved so I jumped the gun on this one. I was tired yes­ter­day and this must’ve affect­ed my judgment
  • I fum­bled cut­ting my posi­tion in half and then adding for a bet­ter entry. I added anoth­er full posi­tion and had to cut that up in half again.
  • Then when price moved in my direc­tion I cov­ered one half to cov­er the loss­es incurred with my fum­bling. The oth­er half hit the tar­get and end­ed up low­er than intend­ed. Progress but far from per­fect. I was tired and def­i­nite­ly not think­ing my best.  I will con­tin­ue work­ing on this. 

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, 1.2R
  • Time-based Exit?
    • 1.1R
  • Over­lap Noise?
    • 2.1R
  • End of Day?
    • 1.9R
  • High­est R multiple?
    • 4.1R

TAGS: Prev. Day Exceed­ed ADR, Trend is UP 2/3, Above Val­ue, Out­side Range, Large Imbalance, 

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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