20220323 Trade Review DAX

Play: Failed Auction

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #DAX #DE30 #DE30Cash

• Result
  • 0.3R
• Open Sen­ti­ment
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • 0.27xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
• IBR
  • 0.23xASR Tight IBR
• Trend
  • Trend is Down 2/3
  • H4: Up
  • D1: Down
  • W1: Down
• Hypo
  • 1
  • Long
  • 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
  • 0h10m
• Long/Short
  • Long
• Lead­ing Narrative
  • D1 Bull Engulf (High in Dis­tri­b­u­tion Curve)
  • Open sen­ti­ment and price return­ing to val­ue fol­lowed by a reac­tion through M15 Bull Engulf

Actu­al Development

• 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.

Good points

• I should not have been in this trade

Bad Points

• 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?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.4R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Tight IB, Trend is Down 2/3,  

Pre­mar­ket prep on the day: ‌

20220323 Pre­mar­ket Prep DAX

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Dai­ly Report Card:

How did I trade today? 20220323

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