20220421 Trade Review Gold - Bear Market Trader
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20220421 Trade Review Gold

20220421 Trade Review Gold

Sus­tained Auc­tion with­in val­ue to val­ue rejection

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

Click to Enlarge
  • Result
    • 1R
  • Open Sen­ti­ment
    • Open With­in Value
    • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed down
  • IBR
    • 0.18xASR Tight IBR
  • Trend
    • Trend is UP 2/3
    • H4: Down
    • D1: Up
    • W1: Up
  • Hypo
    • 2
    • Short
    • Late-Sus­tained Auction
  • Attempt­ed Setup
    • Late-Sus­tained Auction
  • Entry Tech­nique
    • C TPO closed as a Marubozu can­dle below IB, although still with­in Val­ue, then a pull­back in M15 clos­ing as a Bull­ish Inside Bar for entry.
    • Nor­mal­ly the M15 Bull­ish Inside Bar would deter me. This time how­ev­er it closed as a near con­sol­i­da­tion. This com­bined with the devel­op­ing nar­ra­tive I went short. 
    • M5 con­sol­i­da­tion
  • SL place­ment
    • Stan­dard SL (4000)
  • TPO peri­od for Entry
    • D TPO
  • Trade Dura­tion
    • 0h20m
  • Long/Short
    • Short
  • Lead­ing Narrative
    • D1 bear­ish sen­ti­ment, D1 QHi rejection
    • H4 Bull Engulf with no con­tin­u­a­tion, instead test­ing of new­ly formed demand with­out much reaction
    • Devel­op­ing H4 DBD
    • IB exten­sion and close below IB

Click to Enlarge

Actu­al Development

  • D TPO closed as an Inside Bar
  • E TPO closed low­er hit­ting tar­get, although I jumped the gun a lit­tle and took 1R instead

Good points

  • Under­stand­ing the devel­op­ing nar­ra­tive and tak­ing the trade even though from with­in val­ue which is not my strong suit

Bad Points

  • I could’ve let the trade go on and hit the tar­get. Jumped the gun. 
  • Trade went to 2.5R lat­er on

Click to Enlarge

Next Day Analysis

  • Tar­get hit?
    • No, 1R
  • Time-based Exit?
    • 0.7R
  • Over­lap Noise?
    • 0.7R
  • End of Day?
    • -1R
  • High­est R multiple?
    • 2.5R

TAGS: Open With­in Val­ue, Trend is UP 2/3, 

Pre­mar­ket prep on the day: ‌

Dai­ly Report Card:

T3chAddict
t3chaddict@bearmarkettrader.com

Day trader. Tech geek. Sim Racing Enthusiast.

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