Play: Value Acceptance to Failed Auction
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #DAX #DE30 #DE30Cash
Market Narrative
0.4xASR above value, outside range. Large imbalance. A accepted Value and B traversed lower forming a 0.79xASR IBR. Price trading within H4 demand.
How was the Entry?
M30 formed a Neutral Inside Bar coinciding with a M15 Bull Engulf (on the hour).
How was the SL placement and sizing?
I thought initially the SL was good 20 ticks below the M15 Bull engulf formation. I then used a normal sized SL like this:
How was the profit target?
Expecting a Failed Auction and quick move through IBR the profit target was more than enough.
How was the Exit?
I got stopped out because I thought perhaps D closing as a Bear Engulf but still within IB and M15 Three Inside Down not closing within demand as a sign to leave it on a little longer. Next time I’ll take it as a sign that the Value Acceptance play is still on and I could have manually taken the stop at ‑0.3 instead of the full ‑1R.
What would a price action-based exit have done for the trade?
-0.3R
What would a time-based exit have done for the trade?
N.A.
What did I do well?
I did well to take the trade.
What could I have done better?
I could have manually taken the trade off for a smaller loss.
Observations
M30 demand was at VAL and made it possibly more probable for price to rotate through value before reversing.
I’ve noticed a slight reversal happening around F TPO that I could try and capitalize on next time for a quick 0.5–1R
Missed Opportunity
TAGS: Good Trading Idea, Trend is DOWN 2/3, Above Value, Outside Range, Large Imbalance,
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