20220307 Trade Review DAX

Play: Strength From With­in IBR

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

• Result
  • 1.2R
• Open Sen­ti­ment
  • 1.73xASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia extend­ed down
  • IB trad­ed low­er exhaust­ing ADR, pos­si­ble uni­di­rec­tion­al day
• IBR
  • Wide IBR 0.63xASR
• Trend
  • Trend is DOWN 3/3
  • H4: DOWN
  • D1: DOWN
  • W1: DOWN
• Hypo
  • Hypo 2
  • Long
  • Strength From With­in IBR
• Attempt­ed Setup
  • Strength From With­in IBR
• Entry Tech­nique
  • M5 con­sol­i­da­tion at M30 QLo and new­ly formed M30 C‑dem (Bull Engulf)
• SL place­ment
  • Aver­age SL (8500)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 0h15M
• Long/Short
  • Long
• Lead­ing Narrative
  • Price trad­ing at D1/W1 QLo
  • Asia extend­ed down and IB exhaust­ed ADR
  • C TPO extend­ed IB to the upside and then pulled back to new­ly formed M30 Bull Engulf dur­ing D TPO
  • M5 con­sol­i­dat­ed at M30 QLo and I went long on 4th can­dle close clos­ing bullish

Actu­al Development

• D Closed high­er with­in IBR as a Hammer
• E TPO moved high­er hit­ting 1.2R target
• What fol­lowed was a con­sol­i­da­tion and then a move high­er even­tu­al­ly hit­ting 7R

Good points

• Under­stand­ing the narrative
• Tak­ing the trade even though being tired
• Not tak­ing the Failed Auc­tion as per Hypo 1 due to insuf­fi­cient prof­it tar­get because of the new­ly formed M30 Bull Engulf

Bad Points

• Could’ve let the trade longer based on E TPO hit­ting pro­file high­er indi­cat­ing a pos­si­ble con­tin­u­a­tion as it had formed a Poor High which usu­al­ly gets tak­en out. I didn’t want to risk it with the strong DT.

Next Day Analysis

• Tar­get hit?
  • Yes, 1.2R
• Time-based Exit?
  • 2.7R
• Over­lap Noise?
  • 4.2R
• End of Day?
  • 0.8R
• High­est R multiple?
  • 7R

TAGS: Below Val­ue, Out­side Range, Huge Imbal­ance, Trend is DOWN 3/3, Wide IBR, 

Pre­mar­ket prep on the day: ‌

20220307 Pre­mar­ket Prep DAX

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