20220406 Trade Review DAX

08 Apr 20220406 Trade Review DAX

Play: Late-Sus­tained Auction

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

• 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

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.

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: ‌

20220406 Pre­mar­ket Prep DAX

Dai­ly Report Card:

How did I trade today? 20220406

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