11 Mar 20220310 Trade Review DAX
Posted at 04:36h in DAX Trade Review, Trade Reviews, Trades Taken 0 Comments
Play: Value Acceptance, Weakness From Within IBR (prior extension)
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- Open Sentiment
- 0.59xASR Above Value, Outside Range
- Moderate to Large Imbalance
- Asia formed a Neutral Day
- 0.78xASR Wide IBR
- Strong DT 3/3
- H4: DOWN
- D1: DOWN
- W1: DOWN
- 2 & 3
- Hypo 2
- Late-Sustained Auction, monitor for Value acceptance
- Hypo 3
- Weakness From Within IBR
- Attempted Setup
- Weakness From Within IBR (Prior Extension)
- Entry Technique
- B TPO accepted value and C TPO started pulling back to newly formed M30 Bear Engulf, coinciding with M30 VWAP
- SL placement
- Standard SL (10000)
- TPO period for Entry
- C TPO
- Trade Duration
- Leading Narrative
- H4 consolidation at D1 Supply and developing break down
- Strong DT
- B TPO accepting value, price pulling back to newly formed LTF supply
- C TPO closed as a Bull Engulf but with long selling wick but I decided to take the trade off at 1R
- Price retraced to previous entry point another time before closing down and consequently alter on in the session continued lower
- Understanding the narrative and taking the trade
- The narrative hadn’t changed and I could’ve stuck with the trade. Although due to not having an extension I expected the responsive activity to potentially mess up the trade and did not want to risk it.
- When price pulled back to the same entry point during D TPO I considered going short again but didn’t due to the newly formed M30 Bull Engulf at VAH.
Next Day Analysis
- Target hit?
- No, 1R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Prior Extension, Above Value, Outside Range, Moderate to Large Imbalance, Trend is DOWN 3/3,
Premarket prep on the day:
Daily Report Card: