Bear Market Trader | Missed Trade Review
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Missed Trade GBPNZD 20210510

Missed Trade GBPNZD 20210510

Play: Return to Value

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #GBPNZD #missed­trade

These are trades I could have tak­en but for some rea­son I did not. This could be due to me not pay­ing atten­tion or sim­ply not feel­ing like trad­ing. This is usu­al­ly the case when I am not in the right state of mind due to lack of sleep, per­son­al issues, etc.

Rea­son for miss­ing the trade (explain the narrative)

There was a D1 Morn­ing Star pre­ced­ing the day. H4 trad­ed up in pre­mar­ket clos­ing above VWAP. Open was above val­ue with on mod­er­ate imbal­ance. Instead of a momen­tum exten­sion up price pulled back to VAH with­out extend­ing IB to the down­side. Then F closed as a Bull Engulf at M30 VWAP in UT, VAH and extend­ed above IB dur­ing G. 

I did not take the trade due to not feel­ing sharp. I did well to stay out. Also the play hap­pened late in the ses­sion and for it to be hit­ting 2R I would have need­ed to go into over­lap noise. 

What would have been the Entry?

Trade 1


Entry Method: M30 Bull Engulf at VAH at close of F TPO

Odds enhancer: D1 Morn­ing Star, Trend is Down, Above, Val­ue, Out­side Range, Mod­er­ate Imbal­ance, ADR exhaus­tion, near­by ADR exhaus­tion, 0.5xASR IBR, M30 Bull Engulf, 2nd DTTZ, M30 VWAP in UT, 

How was the SL place­ment and sizing?

Trade 1

SL place­ment: SL would have been stan­dard size and be at IB low which tech­ni­cal­ly could have been even slight­ly low­er below IB although not real­ly need­ed as it was already below the formation. 

How was the prof­it target?

Trade 1

Prof­it tar­get: 1R at ADR exhaus­tion 2.3R at H4 supply

What would a price action-based exit have done for the trade?

Trade 1

Exit: as it was late in the ses­sion this could have been tak­en into the over­lap noise. 0.7R.

What would a time-based exit have done for the trade?

Trade 1

Exit: It would have scratched. 

Extra Obser­va­tions

Even in over­lap noise price can con­tin­ue the intend­ed move.

Pre­mar­ket prep on the day

Dai­ly Report Card on the day


Day trader. Tech geek. Sim racer/Pilot.

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