20210915 Trade Review DAX

Play: Failed Auction

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

Mar­ket Narrative

Thre was an open with­in val­ue after yes­ter­day formed an Inside Bar. Trend is up 2/3. Price reject­ed H4 QLo and was trad­ing mid swing. Pos­si­ble H4 Phase 1 / 3. 

What hypo was it?

Hypo 1

Failed Auc­tion Long

This was a good hypo con­sid­er­ing the open sentiment.

How was the Entry?

A M5 Bull Engulf to which I wait­ed for a tran­si­tion to a bull­ish sign on M15 which came in the form of a Bull Engulf. This tech­ni­cal­ly failed the auc­tion. The fol­low­ing tran­si­tion was a M30 Three Inside Up fur­ther con­firm­ing the trade. Then price reversed and took out my stop. It hap­pens. ‑1R.

How was the SL place­ment and sizing?

Due to scal­ing I used a tighter SL to have a 2R tar­get at IB high. 

How was the prof­it target?

2R

How was the Exit?

Price took out my stop (for­got to take a screenshot)

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

Stop got tak­en out

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

Stop got tak­en out

What did I do well?

I thought I did well to wait for a set­up to arise before tak­ing action. 

What could I have done better?

I think I did well

Obser­va­tions

N.A.

Missed Oppor­tu­ni­ty

N.A.

TAGS: Open With­in Value,

Pre­mar­ket prep on the day

20210915 Pre­mar­ket Prep DAX

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