20210804 Missed Trade DAX

05 Aug 20210804 Missed Trade DAX

Play: Failed Auction

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

Price opened 0.2xASR Above Val­ue, Out­side Range on mod­er­ate to large imbal­ance. Asia broke high­er from H4 con­sol­i­da­tion and the pre­vi­ous day was a D1 Bull­ish Inside Bar at a pre­vi­ous D1 demand. IB trad­ed high­er. C extend­ed below IB before retrac­ing and clos­ing as a Failed Auction.

I missed this oppor­tu­ni­ty because it was ear­ly in the ses­sion and I was still writ­ing my pre­mar­ket prep. I should have start­ed with DAX instead of GBPNZD as this had a too tight range as it is. Late­ly, I’ve been hav­ing trou­ble get­ting to my desk in time for the open. I will try and fig­ure out a way around this soon. 

What would have been the Entry?

DTTZ: 1st

Entry Method: Entry would have been off the M15 Bull­ish Pin­bar expect­ing a tran­si­tion into M30 Bull­ish PA oth­er­wise on the close of M30. 

How was the SL place­ment and sizing?

Stan­dard size SL would have been okay although slight­ly cut­ting through the wick. If entry was off the first M15 Pin­bar this would not have been an issue.

How was the prof­it target?

1.3R at IB high was accept­able for a Failed Auc­tion. This would have been slight­ly greater if entry was off the M15 Pinbar. 

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

1.3R

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

0.9R

What would Over­lap Noise have done?

0.6R

TAGS: mod­er­ate to large imbal­ance, above val­ue, out­side range, 

Extra Obser­va­tions

N.A. 

Pre­mar­ket prep on the day

20210804 Pre­mar­ket Prep DAX

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