20220420 Trade Review Gold T2

Play: Rever­sal

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

• Result
  • 0.7R
• Open Sen­ti­ment
  • 2.06 ASR Below Val­ue, Out­side Range
  • Huge Imbal­ance
  • Asia Trad­ed down
• IBR
  • 0.25xASR Tight IBR
• Trend
  • Trend is Up 2/3
  • H4: Down
  • D1: Up
  • W1: Up
• Hypo
  • 4
  • Long
  • Failed Auc­tion, risky tight IBR
• Attempt­ed Setup
  • Rever­sal
• Entry Tech­nique
  • D TPO closed as a Bull Engulf, coin­cid­ing with a M30 VWAP in DT BO
• SL place­ment
  • Aver­age SL (3500)
• TPO peri­od for Entry
  • E TPO
• Trade Dura­tion
  • 0h33m
• Long/Short
  • Long
• Lead­ing Narrative
  • Prev. Day Exceed­ed ADR
  • Trend is UP 2/3
  • Yesterday’s low near­by, price action rejec­tion, M30 VWAP in DT BO

Actu­al Development

• E closed high­er, F made a HH hit­ting H1 Sup­ply coin­cid­ing with H1 VWAP and I took prof­its at 0.7R
• Price con­tin­ued high­er and even­tu­al­ly formed a H4 Bull Engulf.
• Trade would’ve gone to over 2R

Good points

• Not being both­ered by get­ting stopped out on the short and revers­ing to go long after D TPO closed as a Bull Engulf

Bad Points

• Tak­ing prof­its too soon — I thought a sus­tained auc­tion wasn’t prob­a­ble due to the Neu­tral Day implication

Next Day Analysis

• Tar­get hit?
  • No, 0.7R
• Time-based Exit?
  • 1.7R
• Over­lap Noise?
  • 1.9R
• End of Day?
  • 3.1R
• High­est R multiple?
  • 3.1R

TAGS: Below Val­ue, Out­side Range, Huge Imbal­ance, Prev. Day Exceed­ed ADR, Trend is UP 2/3, Tight IB,

Pre­mar­ket prep on the day: ‌

20220420 Pre­mar­ket Prep Gold

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Dai­ly Report Card:

How did I trade today? 20220420

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