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Trade Review Gold 20210421

Trade Review Gold 20210421

Play: Mean Rever­sion to Return to Val­ue (H4 VWAP in UT TC)

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

I have already reviewed these trades but I like to go back and review them again. Hence this new for­mat I am intro­duc­ing into my process.

CLick to Enlarge

How was the Entry?

Large imbal­ance at the open with­in H4 sup­ply after an uptrend I switched to a pos­si­ble mean rever­sion trade. IB trad­ed down from the open and D formed a DBD extend­ing below IB. I had placed a Sell Stop Order at IB exten­sion down.

As is turned out the actu­al play was a Return to Val­ue coin­cid­ing (at H4 VWAP in UT TC).

Odds enhancer: H4 sup­ply, H4 Dou­ble Top, D1 RBR, H4 VWAP in UT TC, Mean Rever­sion, Return to Val­ue, Sell Stop Order, 

How was the SL place­ment and sizing?

Entry could have been tighter to IBR but I usu­al­ly like to give it 3 pips of exten­sion before enter­ing. SL place­ment was good due to the momen­tum nature of the trade even though it was cut­ting through the PA formation. 

How was the prof­it target?

Val­ue Edge  would have been 2R but the nar­ra­tive was dif­fer­ent to which I will come to at the sec­tion ‘missed trade’ underneath. 

How was the Exit?

The exit was good as it was price-based after F closed as a Bull Engulf I let the trade go for slight­ly longer which gave me 0.3R profit. 

Click to Enlarge

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

My exit was price-based

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

A loss of ‑0.1R 

What could I have done better?

I think I did well although this trade was def­i­nite­ly a risky one as the real oppor­tu­ni­ty came after I closed off this trade. 

Obser­va­tions

Price can ‘make a move’ to the actu­al play of the day. The ‘move’ towards the actu­al play is always riskier!

Missed Oppor­tu­ni­ty

Click to Enlarge

This is the trade I ‘should have’ been in. This trade con­tin­ued well beyond my trad­ing win­dow into over­lap noise. And My trad­ing win­dow closed as a H4 Bear Eng­fulg but with­in the con­text of a D1 RBR this has proven to be less reli­able. This is one of the the­sis I am for­ward-test­ing in my research. I will devote a sub­sec­tion to this when I get the time to do so. 

Pre­mar­ket prep on the day

Dai­ly Report Card on the day

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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