20220421 Trade Review Gold

Sus­tained Auc­tion with­in val­ue to val­ue rejection

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

• 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

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

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: ‌

20220421 Pre­mar­ket Prep Gold

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