20220414 Trade Review DAX

16 Apr 20220414 Trade Review DAX

Play: Failed Auc­tion (Bad Trad­ing Idea)

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

• Result
  • -1R
• Open Sen­ti­ment
  • 0.35xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia extend­ed and trad­ed higher
• IBR
  • 0.29xASR Tight IBR
• Trend
  • Strong DT
  • H4: Down
  • D1: Down
  • W1: Down
• Hypo
  • 1
  • Short
  • Failed Auc­tion, could pos­si­bly mon­i­tor for a value
• Attempt­ed Setup
  • Failed Auc­tion
• Entry Tech­nique
  • M15 Bear Engulf with­in IBR
• SL place­ment
  • Stan­dard SL (5000)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 1h24m
• Long/Short
  • Short
• Lead­ing Narrative
  • Strong DT
  • Failed Auc­tion in C

Actu­al Development

• Price extend­ed to the oppo­site time in E and made a LL in F but did not accept value.
• With new­ly formed D1 C‑dem at VAH this would’ve been hard to do any­way and price reversed which was more likely.

Good points

• Tak­ing a trade as per Hypo 1 — even though this was inher­ent­ly mis­aligned with the most like­ly nar­ra­tive unfold­ing as I will get to underneath

Bad Points

• Where to start….
• Was not feel­ing the sharpest all week but since I had a few good trades I thought I was okay. EDIT: Actu­al­ly, I had one more bad trad­ing idea ear­li­er in the week that hap­pened to close into profit. 
• Was lis­ten­ing to upbeat music which made me hyper and I was too eager to take a trade instead of ful­ly grasp­ing the narrative
• Bad entry (too close to IB low)
• For­got to plot new D1 C‑dem coin­cid­ing with VAH so didn’t do well on my pre­mar­ket prep
• Went against all the buy­ing wicks that were an indi­ca­tion of pos­si­ble absorp­tion to the oppos­ing side or at least that some­thing was up. 
• Not­ed a pos­si­ble H4 phase 1, price clos­ing above the range, H4 Qlo rejec­tion, and then still going against it.
• Kin­da work­ing off autopi­lot which works well under nor­mal cir­cum­stances. But this day I wasn’t sharp. Either way this is why we have risk man­age­ment in place and I didn’t do too much damage. 

Next Day Analysis

• Tar­get hit?
  • No, ‑1R
• Time-based Exit?
  • 0.5R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.9R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is Down 3/3, 

Pre­mar­ket prep on the day: ‌

20220414 Pre­mar­ket Prep DAX

Dai­ly Report Card:

How did I trade today? 20220414

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