20211020 Trade Review DAX

21 Oct 20211020 Trade Review DAX

Play: Strength From With­in IBR

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

• Result
  • -1R
• Prod­uct
  • DAX
• Open Sen­ti­ment
  • Open With­in Value
• IBR
  • 0.71xASR
• Hypo
  • 1
• Attempt­ed Setup
  • Strength From With­in IBR
• Entry Tech­nique
  • M15 Bull­ish Inside Bar at VAH, wait for re-test of M5 new­ly formed demand
• SL place­ment
  • 30 pips. Slight­ly tighter than nor­mal (33).
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 4h35m
• Long/Short
  • Long
• Lead­ing Narrative
  • D1 Inside Bar. Price with­in new W1 Bull Engulf. IBR prob­ing above val­ue tak­ing out H4 demand. LTF strength above VAH. Upward bias in Equities.

Actu­al Development

• Price showed some fol­low-through in M30 form­ing a Three Inside Up although being weak.
• Inside Bar wasn’t entire­ly bull­ish ie. hit­tin 50% mark and the 3rd up was slight­ly short­er even. 
• Price then con­tin­ued to fal­ter before even­tu­al­ly tak­ing out my stop. 

Good points

• Try­ing a risky trade based on a poten­tial W1 Bull Engulf follow-through
• Let­ting the trade run its course even though my men­tor showed me the oppo­site side of the trade and then per­son­al­ly see­ing price action going against me. 

Bad Points

• Trad­ing right into D1 QHi
• Trad­ing right into MN C‑sup
• Could have includ­ed a sus­tained auc­tion in my hypos (although very low prob­a­bil­i­ty due to open sen­ti­ment and wide IBR)

Next Day Analysis

• Tar­get hit?
  • No, ‑1R.
• Time-based Exit?
  • 0.5R
• Over­lap Noise?
  • 0.3R
• End of Day?
  • -1R
• High­est R multiple?
  • 1R

TAGS: Open With­in Val­ue, mixed trend, 

Pre­mar­ket prep on the day: ‌

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