20211123 Trade Review Gold

Play: Late-Sus­tained Auc­tion Entry

#fin­twit #order­flow #day­trad­ing #trad­in­gre­view #price­ac­tion #chartre­view #Gold #XAUUSD 

• Result
  • 2R
• Prod­uct
  • Gold
• Open Sen­ti­ment
  • 1.78xASR Below Val­ue, Out­side Range, Huge Imbalance, 
  • Prev. Day Exceed­ed ADR by 1.86
• IBR
  • 0.55xASR
• Hypo
  • 3
  • Sus­tained Auc­tion Short
• Attempt­ed Setup
  • Sus­tained Auction
• Entry Tech­nique
  • Late-sus­tained auc­tion entry: C TPO closed below IB. D extend­ed fur­ther down. When D TPO pulled back to near IB low I joined the sus­tained auction. 
• SL place­ment
  • Stan­dard size (40)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 3h28m
• Long/Short
  • Short
• Lead­ing Narrative
  • Huge imbal­ance
  • D1, H4 phase 4
  • No arrival at QLo (yet)
  • Price hold­ing below IB and pre­vi­ous day’s low
  • Range left in ADR
  • Asia Formed a Neu­tral Day, extend­ed up then pre­dom­i­nant­ly trad­ed down

Actu­al Development

D TPO closed as a Ham­mer, E closed down and fol­lowed into a DBD. I TPO formed a Bull Engulf with no con­tin­u­a­tion as H4 had closed con­fi­dent­ly down the price con­tin­ued low­er hit­ting 2R.

Good points

• Tak­ing the trade
• Hes­i­tat­ed entry on break of IB due to C TPO clos­ing as a Marubozu below IB but with price trad­ing at round num­ber with a huge imbal­ance. Want­ed a bit more con­fir­ma­tion which came lat­er. Good that I entered then. 

Bad Points

• I think I did well but per­haps I could’ve entered on a break of IB. I still think it was the best call due to trad­ing at round num­ber and near­by demand. 

Next Day Analysis

• Tar­get hit?
  • Yes, 2R
• Time-based Exit?
  • 0.7R
• Over­lap Noise?
  • 0.2R
• End of Day?
  • 1.7R
• High­est R multiple?
  • 3.8R

TAGS: Prev. Day Exceed­ed ADR, below val­ue, out­side range, huge imbal­ance, Trend is UP 2/3, 

Pre­mar­ket prep on the day: ‌

20211123 Pre­mar­ket Prep Gold

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