20220307 Trade Review Gold

Play: Sus­tained Auction

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

• Result
  • -0.3R
• Open Sen­ti­ment
  • 2.06xASR Above Val­ue, Out­side Range, Huge Imbalance
  • Asia formed a Neu­tral day but pre­dom­i­nant­ly trad­ed lower
  • IB trad­ed high­er but did not close above Asia
  • Round num­ber 2000 right above
• IBR
  • 0.64xASR Wide IBR
• Trend
  • Trend is UP 3/3
  • H4: UP
  • D1: UP
  • W1: UP
• Hypo
  • 2
  • Long
  • Late-Sus­tained Auc­tion, prefer­ably close above Asia tak­ing out LTF supply
• Attempt­ed Setup
  • Sus­tained Auction
• Entry Tech­nique
  • Break of IB
• SL place­ment
  • Stan­dard SL (600) although slight­ly big­ger due to not hav­ing had a close val­ue set in FX Syn­er­gy (adjust­ed this now)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 0h10m
• Long/Short
  • Long
• Lead­ing Narrative
  • Huge Imbal­ance
  • Strong UT
  • IB exten­sion up

Actu­al Development

• Price start­ed pulling back and trad­ing with­in IBR before even­tu­al­ly clos­ing high­er in a sup­posed sus­tained auc­tion before revers­ing (hard)

Good points

• No good points

Bad Points

• Tak­ing the trade know­ing price was trad­ing into a big round num­ber 2000 with a huge imbal­ance at the open
• Trad­ing into W1/D1 QHi
• IBR had trad­ed over 0.6xASR so is con­sid­ered to be wide and evne less like­ly for a sus­tained auction
• Tak­ing the trade off after real­iz­ing it was a bad trad­ing idea. I con­sid­ered putting this under good points. But since I did not adhere to my exit rules I decid­ed to put it here. 

Next Day Analysis

• Tar­get hit?
  • No, ‑0.3R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.5R

TAGS: Wide IBR, Above Val­ue, Out­side Range, Huge Imbalance, 

Pre­mar­ket prep on the day: ‌

20220307 Pre­mar­ket Prep Gold

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Dai­ly Report Card

How did I trade today? 20220307

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