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9604
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20220504 Trade Review Gold

20220504 Trade Review Gold

Mis­takes. Find them all!

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

Click to Enlarge
  • Result
    • -1R
  • Open Sen­ti­ment
    • 0.31xASR Above Val­ue, Out­side Range
    • Mod­er­ate to Large Imbalance
    • Asia extend­ed and trad­ed lower
    • 0.31xASR Tight IBR
  • Trend
    • Trend is Down 2/3
    • H4: Down
    • D1: Down
    • W1: Up
  • Hypo
    • 2
    • Long
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • M5 VWAP in UT TC
  • SL place­ment
    • Tight SL (300)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 0h58m
  • Long/Short
    • Long
  • Lead­ing Narrative
    • D1 Inside Bar with­in D1 demand
    • H4 sup­ply cre­at­ed Low in Dis­tr. Curve being tested

Click to Enlarge

Actu­al Development

  • D closed low­er with­in IB, E took out my SL
  • F trad­ed high­er before revers­ing again

Good points

  • Tak­ing my stop
  • Sat here observ­ing with­out much emotion
  • Direc­tion­al­ly right on the day, just lousy exe­cu­tion and not wait­ing for the set­up to present itself

Bad Points

  • Price had not closed above IB as per Hypo 2 — Late-Sus­tained Auction
  • M30 Bear Engulf even though weak it failed the auction
  • M15 Con­sol­i­da­tion and break down still in the way for any long thesis
  • No good prof­it tar­get with more con­ges­tion in the way
  • SL tighter than ASR Short which is not the worst as it was based on M5 entry but if it was slight­ly wider I could’ve scratched the trade
  • Weak M5 price pat­tern for entry
  • I was feel­ing tired or as I like to call it “wear­ing horse blind­ers”. I have been sleep­ing well but still felt off. I then real­ized it was a with­draw­al from the sleep­ing med­ica­tion I was tak­ing and quit cold turkey. The nootrop­ics stack has been work­ing so well that I did not have the need to take them and I just abrupt­ly stopped tak­ing them. Because of this I will take the rest of the week off and reeval­u­ate Monday. 
  • Could I have pre­vent­ed this? Yeah, I should’ve been more cog­nizant of the fact that I was com­ing off of the meds. In hind­sight I feel the same way when I did the Keto diet very wrong­ly as well as quit smok­ing at the same time. Luck­i­ly we have good risk man­age­ment rules in place: If I have 3–4 trades hit­ting full stop it is a big red flag. Some­thing is up. I usu­al­ly have good trades so when­ev­er this hap­pens I need to reeva­lute. Is there some­thing wrong with me or has the mar­ket regime changed and do I need to reassess my approach to the mar­kets? Les­son learned. 

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: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is Down 2/3, 

Pre­mar­ket prep on the day: ‌

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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