20220111 Trade Review Gold

Play: Rever­sal

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

• Result
  • 1.2R
• Prod­uct
  • Gold
• Open Sen­ti­ment
  • 0.64xASR Above Val­ue, Out­side Range, Mod­er­ate to Large Imbalance
• IBR
  • 0.14xASR
  • Very tight IBR
• Hypo
  • Hypo 1
  • Short
  • Mean Rever­sion, sus­tained auction
  • If IBR can tra­verse high­er into D1 sup­ply and ful­fil cri­te­ria before revers­ing that would be preferred
  • Price needs to extend with­in the first 2 hours
• Attempt­ed Setup
  • Rever­sal
• Entry Tech­nique
  • Re-test of new­ly formed M30 Bear Engulf (dur­ing B TPO) and exten­sion in C TPO
• SL place­ment
  • Aver­age SL 25 pips
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 1h06m
• Long/Short
  • Short
• Lead­ing Narrative
  • Price con­sol­i­dat­ing on M30 at D1 Sup­ply with a 0.64xASR mod­er­ate to large imbal­ance open sentiment
  • H1 show­ing slowdown
  • Trend is down 2/3

Actu­al Development

• C TPO closed with­in IBR, after dip­ping above form­ing a Neu­tral day, as a consolidation
• D closed as a bear engulf below IBR break­ing down from consolidation
• E closed low­er then pulled back to IB low before con­tin­u­ing down dur­ing NY open

Good points

• Tak­ing the trade even though very tight IBR and even though hav­ing a slight­ly tighter SL still clear­ing much above IBR due to wait­ing for a bet­ter entry with­in IBR after C TPO had extended

Bad Points

• Trade would’ve hit 2R
• Due to the tight IBR it was more like­ly for price to retrace first (as I have observed this before, also M5 was show­ing signs of a pos­si­ble test of sup­ply before con­tin­u­ing) So could’ve had a slight­ly bet­ter entry at a re-test of M5/M15 sup­ply but this is nitpicking
• Did not take the Auc­tion Fade Long due to being engaged otherwise

Next Day Analysis

• Tar­get hit?
  • Yes, 1.2R
• Time-based Exit?
  • 1R
• Over­lap Noise?
  • 0.6R
• End of Day?
  • -1R
• High­est R multiple?
  • 2.9R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is DOWN 2/3, Tight IB, Neu­tral Day,

Pre­mar­ket prep on the day: ‌

20220111 Pre­mar­ket Prep Gold

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