20210928 Trade Review DAX

29 Sep 20210928 Trade Review DAX

Play: Weak­ness From With­in IBR

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

• Result
  • 2R
• Prod­uct
  • DAX
• Open Sen­ti­ment
  • Open 0.37xASR Below Val­ue, Out­side Range, Mod­er­ate to Large Imbalance,
• IBR
  • 0.9xASR
• Hypo
  • 3
  • Weak­ness from With­in IBR, vari­a­tion to Hypo 1 or 2 in line with a pos­si­ble con­tin­u­a­tion to H4 Bear Engulf
• Attempt­ed Setup
  • Weak­ness From With­in IBR
• Entry Tech­nique
  • M15 Inside Bar at M30 con­sol­i­da­tion high, M5 DBD at M5 VWAP in DT
• SL place­ment
  • 30 pips. Slight­ly tighter than stan­dard SL (35) but it was placed above the struc­ture. This was good. 
• TPO peri­od for Entry
  • E TPO
• Trade Dura­tion
  • 45 min­utes
• Long/Short
  • Short
• Lead­ing Narrative
  • Asia closed down form­ing a H4 Bear Engulf after the pre­vi­ous day closed as a D1 Grave­stone Doji. Pos­si­bil­i­ty for a uni­di­rec­tion­al day. IB opened mod­er­ate to large imbal­ance and tra­versed down tak­ing out demand. Then C TPO extend­ed and closed below IB exhaust­ing ADR. Even with the wide IBR the best oppor­tu­ni­ty here is for a con­tin­u­a­tion with the move. Due to the wide IBR a sus­tained auc­tion is not the best play. Thus weak­ness from with­in IBR can be an entry to go with the open sen­ti­ment. Trend was also Down 2/3.

Actu­al Development

M15 mean­dered a lit­tle bit but still clos­ing down and form­ing a M30 Three Inside Down. Price slowed down at LTF demand (as well as W1 demand) before con­tin­u­ing and hit­ting my 2R target.

Good points

• That I spot­ted the narrative
• That I exe­cut­ed based on Price action weak­ness from with­in IBR along with the open sentiment.

Bad Points

• Due to the nar­ra­tive and open sen­ti­ment I could have had Hypo 3 Weak­ness from with­in IBR as hypo 1 and Hypo 4 Sus­tained Auc­tion Down as my hypo 2. 

Next Day Analysis

• Tar­get hit?
  • Yes, 2R
• Time-based Exit?
  • 2.2R
• Over­lap Noise?
  • 2.5R
• End of Day?
  • 6.1R
• High­est R multiple?
  • 7.4R

TAGS: Below Val­ue, Out­side Range, Mod­er­ate to Large Imbalance, 

Pre­mar­ket prep on the day: ‌

• Twit­ter
• Insta­gram