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13 Apr 20220412 Trade Review Gold
Posted at 07:16h
in Bad Trading Idea, Gold Trade Review, Late-Sustained Auction Entry, Sustained Auction, Trade Reviews
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Play: Late-Sustained Auction (Bad Trading Idea)
#fintwit #orderflow #daytrading #tradingreview #priceaction #chartreview #Gold #XAUUSD
- Result
- 0.9R
- Open Sentiment
- Open Within Value
- Asia formed a Neutral Day but predominantly traded higher
- Open at H4 QHi, IBR traded down
- IBR
- 0.40xASR IBR
- Trend
- Strong UT
- H4: Up
- D1: Up
- W1: Up
- Hypo
- 2
- Short
- Late-Sustained Auction
- Attempted Setup
- Late-Sustained Auction
- Entry Technique
- C TPO closed as a possible base for a DBD, DAX traded higher
- SL placement
- Average SL (350)
- TPO period for Entry
- D TPO
- Trade Duration
- 0h27m
- Long/Short
- Short
- Leading Narrative
- Extension down, possible developing M30 DBD / H4 Bear Engulf
- M30 closing below H4 QHi
- DAX trading higher
Actual Development
- D TPO closed below IBR and E TPO made a LL
- LTF started reacting at M30 demand and DAX showed sign of a reversal as well so took the trade off at 0.9R
- F TPO closed as a Morning Star within IBR failing the auction. Price proceeded to rotate through IB and continued higher.
Good points
- Even though it was a good reading of a potential DBD this was not the move I should’ve been in for the day. My job is to figure out the move of the day and find an entry to hop onboard.
- I was not feeling the sharpest as noted in my prep. But still managed to focus on price action development.
Bad Points
- Because I was in on the short I did not go long which was the actual move of the day. Also attention moved away to other things.
- I should’ve put more emphasis on the developing D1 narrative instead of being led by DAX trading higher.
- Dax had moved much more than Gold did indicating a lower inverse correlation than thought at the time.
Next Day Analysis
- Target hit?
- No, 0.9R
- Time-based Exit?
- -1R
- Overlap Noise?
- -1R
- End of Day?
- -1R
- Highest R multiple?
- 1.1R
TAGS: Open Within Value, Trend is UP 3/3,
Premarket prep on the day:
Daily Report Card:
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