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20220412 Trade Review Gold

20220412 Trade Review Gold

Play: Late-Sus­tained Auc­tion (Bad Trad­ing Idea)

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #Gold #XAUUSD 

Click to Enlarge
  • Result
    • 0.9R
  • Open Sen­ti­ment
    • Open With­in Value
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
    • Open at H4 QHi, IBR trad­ed down
  • IBR
    • 0.40xASR IBR
  • Trend
    • Strong UT
    • H4: Up
    • D1: Up
    • W1: Up
  • Hypo
    • 2
    • Short
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • C TPO closed as a pos­si­ble base for a DBD, DAX trad­ed higher
  • SL place­ment
    • Aver­age SL (350)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 0h27m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Exten­sion down, pos­si­ble devel­op­ing M30 DBD / H4 Bear Engulf
    • M30 clos­ing below H4 QHi
    • DAX trad­ing higher

Click to Enlarge

Actu­al Development

  • D TPO closed below IBR and E TPO made a LL
  • LTF start­ed react­ing at M30 demand and DAX showed sign of a rever­sal as well so took the trade off at 0.9R
  • F TPO closed as a Morn­ing Star with­in IBR fail­ing the auc­tion. Price pro­ceed­ed to rotate through IB and con­tin­ued higher.

Good points

  • Even though it was a good read­ing of a poten­tial DBD this was not the move I should’ve been in for the day. My job is to fig­ure out the move of the day and find an entry to hop onboard. 
  • I was not feel­ing the sharpest as not­ed in my prep. But still man­aged to focus on price action development.

Bad Points

  • Because I was in on the short I did not go long which was the actu­al move of the day. Also atten­tion moved away to oth­er things.
  • I should’ve put more empha­sis on the devel­op­ing D1 nar­ra­tive instead of being led by DAX trad­ing higher. 
  • Dax had moved much more than Gold did indi­cat­ing a low­er inverse cor­re­la­tion than thought at the time. 

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • No, 0.9R
  • Time-based Exit?
    • -1R
  • Over­lap Noise?
    • -1R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 1.1R

TAGS: Open With­in Val­ue, Trend is UP 3/3, 

Pre­mar­ket prep on the day: ‌

Dai­ly Report Card:


Day trader. Tech geek. Sim Racing Enthusiast.

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