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20220420 Trade Review Gold T1

20220420 Trade Review Gold T1

Play: Late-Sus­tained Auc­tion (Bad Trad­ing Idea)

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

Click to Enlarge
  • Result
    • -1R
  • Open Sen­ti­ment
    • 2.06 ASR Below Val­ue, Out­side Range
    • Huge Imbal­ance
    • Asia Trad­ed down
  • IBR
    • 0.25xASR Tight IBR
  • Trend
    • Trend is Up 2/3
    • H4: Down
    • D1: Up
    • W1: Up
  • Hypo
    • 1
    • Short
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-sus­tained auction
  • Entry Tech­nique
    • C TPO extend­ed below but closed slight­ly with­in IBR
  • SL place­ment
    • Stan­dard SL (4300)
  • TPO peri­od for Entry
    • C TPO
  • Trade Dura­tion
    • 0h19M
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Huge Imbal­ance
    • Pos­si­ble D1 Phase 4, D1 QHi rejection

Click to Enlarge

Actu­al Development

  • D extend­ed to the oppo­site side and took out my SL then closed as a Bull Engulf

Good points

  • Tak­ing the trade
  • Let­ting the trade play out

Bad Points

  • C TPO did not close below IB and thus was not a prop­er late-sus­tained auc­tion entry
  • Trad­ing right into demand I should’ve been more careful
  • Let­ting a H4 Phase 4 guide my bias over­rul­ing actu­al price action development

Click to Enlarge

Next Day Analysis

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

TAGS: Below Val­ue, Out­side Range, Huge Imbal­ance, Prev. Day Exceed­ed ADR, Trend is UP 2/3, Tight IB,

Pre­mar­ket prep on the day: ‌

Dai­ly Report Card:

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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