20220310 Trade Review DAX

11 Mar 20220310 Trade Review DAX

Play: Val­ue Accep­tance, Weak­ness From With­in IBR (pri­or extension)

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

• Result
  • 1R
• Open Sen­ti­ment
  • 0.59xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day
• IBR
  • 0.78xASR Wide IBR
• Trend
  • Strong DT 3/3
  • H4: DOWN
  • D1: DOWN
  • W1: DOWN
• Hypo
  • 2 & 3
  • Hypo 2
  • Short
  • Late-Sus­tained Auc­tion, mon­i­tor for Val­ue acceptance
  • Hypo 3
  • Short
  • Weak­ness From With­in IBR
• Attempt­ed Setup
  • Weak­ness From With­in IBR (Pri­or Extension)
• Entry Tech­nique
  • B TPO accept­ed val­ue and C TPO start­ed pulling back to new­ly formed M30 Bear Engulf, coin­cid­ing with M30 VWAP
• SL place­ment
  • Stan­dard SL (10000)
• TPO peri­od for Entry
  • C TPO
• Trade Dura­tion
  • 0h44m
• Long/Short
  • Short
• Lead­ing Narrative
  • H4 con­sol­i­da­tion at D1 Sup­ply and devel­op­ing break down
  • Strong DT
  • B TPO accept­ing val­ue, price pulling back to new­ly formed LTF supply

Actu­al Development

• C TPO closed as a Bull Engulf but with long sell­ing wick but I decid­ed to take the trade off at 1R
• Price retraced to pre­vi­ous entry point anoth­er time before clos­ing down and con­se­quent­ly alter on in the ses­sion con­tin­ued lower

Good points

• Under­stand­ing the nar­ra­tive and tak­ing the trade

Bad Points

• The nar­ra­tive hadn’t changed and I could’ve stuck with the trade. Although due to not hav­ing an exten­sion I expect­ed the respon­sive activ­i­ty to poten­tial­ly mess up the trade and did not want to risk it.
• When price pulled back to the same entry point dur­ing D TPO I con­sid­ered going short again but didn’t due to the new­ly formed M30 Bull Engulf at VAH. 

Next Day Analysis

• Tar­get hit?
  • No, 1R
• Time-based Exit?
  • 2.9R
• Over­lap Noise?
  • 2.7R
• End of Day?
  • 2.2R
• High­est R multiple?
  • 3.8R

TAGS: Pri­or Exten­sion, Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is DOWN 3/3,

Pre­mar­ket prep on the day: ‌

20220310 Pre­mar­ket Prep DAX

Dai­ly Report Card:

How did I trade today? 20220310

• Twit­ter
• Insta­gram