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20220503 Trade Review Gold

20220503 Trade Review Gold

Late-Sus­tained Auc­tion (Bad Trad­ing Idea)

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

Click to Enlarge
  • Result
    • -1R
  • Open Sen­ti­ment
    • 0.84xASR Below Val­ue, Out­side Range
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down
    • LN wider than NY
  • IBR
    • 0.37xASR Tight IBR
  • Trend
    • Trend is Down 2/3
    • H4: Down
    • D1: Down
    • W1: Up
  • Hypo
    • 2
    • Short
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • D made a LL and I went in short at IB low
  • SL place­ment
    • Aver­age SL (400)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 0h32m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down
    • D1 closed with­in D1 demand and made a LL after already pre­vi­ous day exceed­ing ADR by 1.64
    • Trend is Down 2/3
    • IB exten­sion down and D mak­ing LL

Clck to Enlarge

Actu­al Development

  • D closed with­in IB as a Drag­on­fly Doji, E trad­ed deep­er with­in IB fail­ing the auc­tion and tak­ing out my SL

Good points

  • Tak­ing my stop — I was think­ing to cut the trade and reverse to go long. But I need to be com­fort­able again to just take my stop as I want to walk away from trades and do oth­er things. So I did well on that part. 
  • Not feel­ing both­ered by hav­ing made this mis­take. Learn and move on. 

Bad Points

  • Screen­shot soft­ware froze up and took awhile to restart so I was late tak­ing a screen­shot but luck­i­ly man­aged before my SL got hit
  • Large imbal­ance at the open
  • Trad­ing right into D1 demand with­out hav­ing C or D clos­ing below IB for a Late-Sus­tained Auc­tion entry — jumped the gun on the trade
  • H4 Sup­ply low in dis­tri­b­u­tion curve more like­ly to get tak­en out
  • Did not write my DRC due to being busy with oth­er work

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • Yes, ‑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 2/3, 

Pre­mar­ket prep on the day: ‌


Day trader. Tech geek. Sim Racing Enthusiast.

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