24 Mar 20220323 Trade Review DAX
Play: Failed Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
- Open Sentiment
- Asia formed a Neutral Day but predominantly traded higher
- 0.27xASR Above Value, Outside Range
- Moderate to Large Imbalance
- 0.23xASR Tight IBR
- Trend is Down 2/3
- H4: Up
- D1: Down
- W1: Down
- Return to Value, VAH reversal, possible Failed Auction
- Attempted Setup
- Failed Auction
- Entry Technique
- M15 Bull Engulf closing within IBR after reacting off VAH
- SL placement
- Risk adjusted SL (5000)
- TPO period for Entry
- D TPO
- Trade Duration
- Leading Narrative
- D1 Bull Engulf (High in Distribution Curve)
- Open sentiment and price returning to value followed by a reaction through M15 Bull Engulf
- D failed to make a HH and closed down extending below IB and making a LL
- Gold had accepted value and I took of the trade realizing it was a mistake to be long on DAX.
- I should not have been in this trade
- Possibly developing H4 Bear Engulf
- D1 demand was high in distribution curve and thus less valid as a bounce level
- Gold was strongly bullish (inverse correlation puts a more bearish sentiment on DAX)
Next Day Analysis
- Target hit?
- No, 0.3R
- Time-based Exit?
- Overlap Noise?
- End of Day?
- Highest R multiple?
TAGS: Above Value, Outside Range, Moderate to Large Imbalance, Tight IB, Trend is Down 2/3,
Premarket prep on the day:
Daily Report Card: