16 Mar 20220315 Trade Review DAX
Play: Reversal using Auction Fade to Failed Auction (risky odd scenario)
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- 0.02xASR Below Value, Within Range
- Moderate Imbalance
- Asia formed a Neutral day but predominantly traded lower
- Trend is Down 2/3
- H4: Up
- D1: Down
- W1: Down
- Auction Fade
- Attempted Setup
- Reversal using Auction Fade to Failed Auction
- Entry Technique
- M15 RBR with re-test of newly formed M15 demand for entry
- M15 RBR transition to M30 Three Outside Up
- SL placement
- Average SL (10000)
- TPO period for Entry
- G TPO
- Trade Duration
- 11:05 entry
- 0h50m, 11:55, 1.2R
- 1h06m, 12:11, 1.7R
- 2h07m, 13:22, 2R
- Leading Narrative
- D1 QLo rejection, possible D1 VWAP break out as there was no reaction from VWAP with price closing lower
- Price returned to D1 Supply Base level
- Sustained Auction right into H4 QLo and price struggling to sustain auction
- Buying tail in E TPO, confirmed by F TPO closing higher
- G TPO retesting M15 demand
- G TPO closed at IB low not technically failing the auction, even though M15 did close within, M30 closed slightly below
- Then a continuation higher
- Understanding the narrative and staying out of the potential Sustained Auction down. My intuition worked well here.
- Trying to take a trade
- FX synergy not working and failing to fill my position and then price moved away so I couldn’t fumble around with a manual order.
Next Day Analysis
- Target hit?
- No, 0R. FX synergy gave me an error message: Invalid Price. Still not sure what went wrong there. Will look into it further.
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Below Value, Within Range, Moderate Imbalance, Trend is Down 2/3,
Premarket prep on the day:
Daily Report Card: