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Trading Day Summary 20210922 - Bear Market Trader
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Trading Day Summary 20210922

Trading Day Summary 20210922

Sum­ma­ry: Exe­cute your plan and let risk para­me­ters take over

#DAX #DE30 #XAUUSD #fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #trad­inglifestyle #day­trader­life #trad­ing­forex

A small sum­ma­ry of how I did dur­ing the ses­sion. Things I did well. Things I need to keep work­ing on. Trade Reviews are part of my post-mortem. 

My week­ly goals: 

  • Trad­ing rules
    • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
    • No ear­ly exits, either hit SL or 2R target

Good Pre-mar­ket routines

Good Ses­sion PECS

Good Trade selection

Good Trade siz­ing or SL placement

Good Trade Exe­cu­tion & Mgmt.

Good Risk Adjust­ed Returns

Yes Clar­i­ty — in tune with price

Mup­pet Meter (1 being best — 5 being worst): 1


Notes

Gold

  • Price extend­ed below in C hit­ting H4 demand before form­ing an inside bar to a slight RBR test­ing IB low before con­tin­u­ing down. 
  • A late-sus­tained auc­tion entry could’ve been played here but I don’t like to trade right into H4 demand as well asn the large LTF demand at VAH not pro­vid­ing with good 2R prof­it tar­get. ALthough with trend being down the expec­ta­tion is that both of these will get tak­en out at some point. 

DAX

  • IB tra­versed down 0.58xASR. C formed a Bull­ish Inside Bar. Wait­ed for a slight pull­back to new­ly formed M15 Bull Engulf to go long so that my stan­dard size SL could be placed below IB
  • Long 15412.11, SL 15374.38, TP 15487.56 (2R)
  • Price has failed to extend IB
  • Price hit the 2R target


Summary of the Trading Day

Click to Enlarge
  • Result
    • 2R
  • Prod­uct
    • DAX
  • Open Sen­ti­ment
    • 0.48xASR Above Val­ue, Out­side Range
  • IBR
    • 0.58xASR
  • Hypo
    • 1
  • Attempt­ed Setup
    • Val­ue Edge Reversal
  • Entry Tech­nique
    • M30 Bull­ish Inside Bar / M15 Bull Engulf com­bi­na­tion. Wait­ed for a slight pull­back to M15 c‑dem before enter­ing long. 
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 4:34:47
  • Long/Short
    • Long
  • Trade Com­ments
    • D1 Inside Bar clos­ing above D1 QLo after react­ing off D1 demand (trad­ing with­in W1 demand). Pos­si­bly devel­op­ing a D1 Three Inside Up. H4 con­sol­i­da­tion and test of H4/D1 QLo before clos­ing high­er from con­sol­i­da­tion. Upward bias in equi­ties. Open above sen­ti­ment with a rever­sal near val­ue edge.

Click to Enlarge

Actu­al Development

Expec­ta­tion of a M30 Bull­ish Inside Bar is to form a Three Inside Up which it did although fail­ing to extend above IB. The remain­der of the ses­sion trad­ed with­in IBR and there was no exten­sion dur­ing the ‘nor­mal’ trad­ing win­dow but price con­sol­i­dat­ed at the top half of the IBR. Price final­ly extend­ed dur­ing L TPO and hit tar­get dur­ing M TPO in line with a pos­si­ble H4 RBR. 

Good points

  • Sum­ma­riz­ing the poten­tial nar­ra­tive going against the Down­trend 2/3
  • Sum­ma­riz­ing the pos­si­bil­i­ty for the devel­op­ment of a H4 base before a poten­tial con­tin­u­a­tion up as price had not extend­ed with­in the first 2 hours (ie lack of momen­tum behind the move)
  • Slight pull­back entry to new­ly formed M15 Bull Engulf to get a bet­ter entry as well as SL placement
  • Going against H1 price action and let­ting M15/M30 guide the narrative

Bad Points

  • Price did­n’t actu­al­ly reach VAH but instead used yes­ter­day’s ses­sion high as a turn­ing point. I will mon­i­tor this under my for­ward-test­ing category. 

Next Day Review

  • Time-based stop
    • 0.6R
  • Over­lap Noise stop
    • 0.9R
  • End of Day Stop (end of NY session)
    • 2.4R
  • High­est R target
    • 3.8R

For‌ ‌my‌ ‌trade‌ ‌plan(s)‌ ‌on‌ ‌this‌ ‌particular‌ ‌day,‌ ‌go‌ ‌here:‌ ‌

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim racer/Pilot.

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