2022053 Trade Review DAX

04 May 2022053 Trade Review DAX

Strength From With­in IBR (Bad Trad­ing Idea

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

• Result
  • -1R
• Open Sen­ti­ment
  • Open With­in Value
  • ASR extend­ed and trad­ed higher
  • 0.66xASR Wide IBR
• Trend
  • Trend is Up 2/3
  • H4: Up
  • D1: Up
  • W1: Down
• Hypo
  • 2
  • Long
  • Strength From With­in IBR, pos­si­ble Late-Sus­tained Auction
• Attempt­ed Setup
  • Strength From With­in IBR
• Entry Tech­nique
  • M5 con­sol­i­da­tion
• SL place­ment
  • Aver­age SL (4300)
• TPO peri­od for Entry
  • F
• Trade Dura­tion
  • 0h47m
• Long/Short
  • Long
• Lead­ing Narrative
  • Trend is UP 2/3
  • Open With­in and price extend­ed above IB
  • Price pulled back with­in IB and value

Actu­al Development

• F closed as a Bull­ish inside Bar but then price con­tin­ued low­er ful­fill­ing the failed auc­tion tak­ing out my SL

Good points

• Tak­ing the trade and walk­ing away

Bad Points

• Price had failed to close above IB and start­ed con­sol­i­dat­ing giv­ing more clues to the failed auction. 
• Did not wait for a full price action con­fir­ma­tion before going long
• Suf­fice to say I wasn’t func­tion­ing well yes­ter­day. I had tak­en note but still thought I was okay to exe­cute trades. Clear­ly I was not. Live and Learn. 

Next Day Analysis

• Tar­get hit?
  • Yes, ‑1R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.5R

TAGS: Open With­in Val­ue, Trend is Up 2/3, 

Pre­mar­ket prep on the day: ‌

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