20210923 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.

• Prod­uct
  • DAX
• Open Sen­ti­ment
  • 1.11xASR Above Val­ue, Out­side Range, Large Imbalance
• IBR
  • 0.55xASR
• Hypo
  • 2
  • Rever­sal, pos­si­ble Failed Auc­tion Short
• Set­up
  • Failed Auc­tion
• Pro­posed Entry Technique
  • G TPO spiked and then closed as a M30 Three Inside Down, Entry on the close. 
  • SL using slight­ly tighter to fit IBR for a 2R tar­get using a 30 pip stop
• TPO peri­od for Entry
  • H TPO
• Trade Dura­tion
  • 2.5–3 hours till 2R tar­get at IB Low
• Long/Short
  • Short
• Rea­son for miss­ing the trade
  • At the time I couldn’t man­age a 2R tar­get so I opt­ed out of the trade as I thought a sub­par tar­get is allowed on Failed Auc­tions but my cur­rent rules dic­tate I can’t exit with­out hit­ting 2R. So I let it go. I know now I could’ve entered with a slight­ly tighter stop as out­lined in this review. 
• Result
  • Tar­get hit?
    • Yes, 2R
  • Time-based Exit?
    • 0.9R
  • Over­lap Noise?
    • 0.8R
  • End of Day?
    • -0.3R
  • High­est R multiple?
    • 2.1R

Good points

• Good that I was stalk­ing the trade
• Good that I opt­ed not to trade it as I couldn’t man­age a good 2R tar­get at the time

Bad Points

• After G TPO closed I knew the trad­ing idea was still valid and I could’ve tried a short nonetheles.

TAGS: Above Val­ue, Out­side Range, Large Imbal­ance, Trend is Down 2/3,

Extra Obser­va­tions

Large Imbal­ance, near­by D1 Sup­ply, H4 Phase 4 can still war­rant a short-term failed auction.

Pre­mar­ket prep on the day

20210923 Pre­mar­ket Prep DAX

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