10 Mar 20220309 Trade Review DAX
Play: Sustained Auction
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- Open Sentiment
- 0.65xASR Above Value, Outside Range
- Moderate to Large Imbalance
- Open at old H4 supply and yesterday’s high
- Asia formed a Neutral Day but predominantly traded higher
- ADR exhaustion not far above, ASR Exhaustion just above it
- Strong DT 3/3
- H4: DOWN
- D1: DOWN
- W1: DOWN
- Late-Sustained Auction, preferably close above Asia and IB / yesterday’s high
- Attempted Setup
- Early entry from within IB
- Entry Technique
- Gold had formed a Bear Engulf similarly to DAX forming a Bull Engulf during B TPO. C TPO was looking to do the same so I went long early before waiting for an extension.
- SL placement
- Short Session SL placement (8500)
- TPO period for Entry
- C TPO
- Trade Duration
- Leading Narrative
- D1 Bull Engulf rejecting D1/W1 QLo
- Open sentiment
- Gold burst lower, inverse correlation with DAX
- C extended and closed above IB in a sustained auction, D immediately extended higher and hit 1.2R target.
- The auction was sustained and hit 2R and eventually higher
- Taking the trade using early entry off inverse correlation with Gold
- Not necessarily bad but yet again I could’ve had a bigger R‑multiple using OODA loops
Next Day Analysis
- Target hit?
- Yes, 1.2R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Above Value, Outside Range, Moderate to Large Imbalance, Trend is DOWN 3/3,
Premarket prep on the day:
Daily Report Card