20220422 Trade Review DAX

Mean Rever­sion, Sus­tained Auc­tion (Bad Trad­ing Idea)

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

• Result
  • -1R
• Open Sen­ti­ment
  • 0.98xASR Below Val­ue, Out­side Range
  • Large Imbal­ance
  • Asia trad­ed side­ways but pre­dom­i­nant­ly higher
• IBR
  • 0.47xASR IBR
• Trend
  • Strong DT
  • H4: Down
  • D1: Down
  • W1: Down
• Hypo
  • 1
  • Long
  • Sus­tained Auction
• Attempt­ed Setup
  • Ear­ly entry rever­sal to sus­tained auction
• Entry Tech­nique
  • Re-test of new­ly formed demand (Bull Engulf)
• SL place­ment
  • Stan­dard SL (5500)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 0h17m
• Long/Short
  • Long
• Lead­ing Narrative
  • Pos­si­ble devel­op­ing a H4 Inside Up
  • D1 Invert­ed Hammer
  • Open sen­ti­ment
  • Pos­si­ble Fri­day profit-taking

Actu­al Development

• D TPO closed down as a Bear Engulf tak­ing out SL ‑1R

Good points

• Ear­ly entry to mon­i­tor for an exten­sion to con­firm the sus­tained auc­tion. This did not come.

Bad Points

• For a mean rever­sion trade I need a break of IB
• Going long in a strong DT after D1 formed an invert­ed ham­mer reject­ing D1 QHi and price broke the range to the downside
• Rely­ing too much on inverse cor­re­la­tion with Gold

Next Day Analysis

• Tar­get hit?
  • No, ‑1R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.2R

TAGS: Below Val­ue, Out­side Range, Large Imbal­ance, Trend is Down 3/3, Prev. Day Exceed­ed ADR, 

Pre­mar­ket prep on the day: ‌

20220422 Pre­mar­ket Prep DAX

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Dai­ly Report Card:

How did I trade today? 20220422

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