Bear Market Trader | Trade Review
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20220406 Trade Review DAX

20220406 Trade Review DAX

Play: Late-Sus­tained Auction

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

Click to Enlarge
  • Result
    • 0.4R
  • Open Sen­ti­ment
    • 0.13xASR Below Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia extend­ed low­er but then trad­ed higher
  • IBR
    • 0.84xASR Wide IBR
  • Trend
    • Strong DT
    • H4: Down
    • D1: Down
    • W1: Down
  • Hypo
    • Hypo 3
    • Short
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • C TPO extend­ed and closed below IBR, pull­back to IB low
  • SL place­ment
    • Aver­age SL (5000)
  • TPO peri­od for Entry
    • C TPO
  • Trade Dura­tion
    • 1h42m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • D1 QHi rejec­tion, pos­si­ble D1 Phase 3,
    • Prev. Day Exceed­ed ADR by 1.08 clos­ing as Bear Engulf, pos­si­ble momentum
    • Open sen­ti­ment
    • Exten­sion and close below dur­ing C TPO

Click to Enlarge

Actu­al Development

  • E formed a DBD, F a Bull­ish Inside Bar, all clos­ing below IB in effect sus­tain­ing the auction
  • G final­ly made a LL, then H and I closed lower

Good points

  • Tak­ing the trade even though a wide IBR usu­al­ly infers a low pos­si­bil­i­ty of a sus­tained auc­tion. But due to the pos­si­bil­i­ty of momen­tum com­ing from a D1 Bear Engulf and prev. Day hav­ing exceed­ed ADR I went with a bear­ish narrative.

Bad Points

  • I could have let my tar­get take over as it would have been hit. G TPO had made a LL so there was an addi­tion­al sign of a con­tin­ued sus­tained auc­tion. It being around 2nd DTTZ I thought there could be a rever­sal com­ing and grasshop­pered out of the trade for a measly 0.4R.

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • No, 0.4R
  • Time-based Exit?
    • 0.6R
  • Over­lap Noise?
    • 1.5R
  • End of Day?
    • 1.8R
  • High­est R multiple?
    • 4.2R

TAGS: Below Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Wide IBR, Trend is Down 3/3, 

Pre­mar­ket prep on the day: ‌

Dai­ly Report Card:


Day trader. Tech geek. Sim Racing Enthusiast.

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