20220412 Trade Review Gold

13 Apr 20220412 Trade Review Gold

Play: Late-Sus­tained Auc­tion (Bad Trad­ing Idea)

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

• 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

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. 

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: ‌

20220412 Pre­mar­ket Prep Gold

Dai­ly Report Card:

How did I trade today? 20220412

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