Bear Market Trader | Trade Review
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20220413 Trade Review Gold

20220413 Trade Review Gold

Play: Late-Sus­tained Auc­tion (Aver­aged into Position)

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

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Cut posi­tion in half and re-entered for bet­ter aver­age entry long

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  • Result
    • 1.2R
  • Open Sen­ti­ment
    • 0.72xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
  • IBR
    • 0.44xASR IBR
  • Trend
    • Strong UT
    • H4: Up
    • D1: Up
    • W1: Up
  • Hypo
    • 1
    • Long
    • Late-Sus­tained Auc­tion, prefer­ably hold above Asia
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • C TPO hold above IB and Asia as well as close with­in supply
    • Wait­ed for a pull­back to IB high, got put off by a poten­tial M5 rever­sal, but con­sid­ered the pos­si­bil­i­ty for a low ini­tia­tive activ­i­ty sus­tained auc­tion as D TPO had made a HH and went long anyway
    • When price even­tu­al­ly did pull back I cut my posi­tion in half and added anoth­er half clos­er to IB High
  • SL place­ment
    • Stan­dard SL (400)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 1h0m
  • Long/Short
    • Long
  • Lead­ing Narrative
    • Strong UT
    • Pos­si­ble D1 Phase 2
    • Pos­si­ble Devel­op­ing H4 RBR
    • C TPO clos­ing above IB and Asia as well as clos­ing with­in old H4 supply
    • Hypo 1 at 1st DTTZ

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Actu­al Development

  • D TPO closed as an Inside Bar above IB sus­tain­ing the auction
  • Expec­ta­tion is for a con­tin­u­a­tion which came in E clos­ing high­er although not con­fi­dent­ly F took price high­er hit­ting target

Good points

  • Great that I trad­ed even though not being the sharpest I could still focus on the nar­ra­tive unfold­ing through read­ing of price action and pro­file. Although did struggle. 
  • Great that I went long any­way even though price close fur­ther away from IB, price could have seen a faster con­tin­u­a­tion and I would’ve missed the trade completely
  • Then great that I aver­aged in by cut­ting posi­tion in half and then re-enter­ing at a bet­ter price when price pulled back.

Bad Points

  • Trade went to 1.7R

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, 1.2R
  • Time-based Exit?
    • 0.5R
  • Over­lap Noise?
    • 0.9R
  • End of Day?
    • 0.7R
  • High­est R multiple?
    • 1.7R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is UP 3/3, Aver­aged into Posi­tion, Hypo 1 at 1st DTTZ, 

Pre­mar­ket prep on the day: ‌

Dai­ly Report Card:


Day trader. Tech geek. Sim Racing Enthusiast.

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