20220504 Trade Review Gold

05 May 20220504 Trade Review Gold

Mis­takes. Find them all!

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

• Result
  • -1R
• Open Sen­ti­ment
  • 0.31xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia extend­ed and trad­ed lower
  • 0.31xASR Tight IBR
• Trend
  • Trend is Down 2/3
  • H4: Down
  • D1: Down
  • W1: Up
• Hypo
  • 2
  • Long
  • Late-Sus­tained Auction
• Attempt­ed Setup
  • Late-Sus­tained Auction
• Entry Tech­nique
  • M5 VWAP in UT TC
• SL place­ment
  • Tight SL (300)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 0h58m
• Long/Short
  • Long
• Lead­ing Narrative
  • D1 Inside Bar with­in D1 demand
  • H4 sup­ply cre­at­ed Low in Dis­tr. Curve being tested

Actu­al Development

• D closed low­er with­in IB, E took out my SL
• F trad­ed high­er before revers­ing again

Good points

• Tak­ing my stop
• Sat here observ­ing with­out much emotion
• Direc­tion­al­ly right on the day, just lousy exe­cu­tion and not wait­ing for the set­up to present itself

Bad Points

• Price had not closed above IB as per Hypo 2 — Late-Sus­tained Auction
• M30 Bear Engulf even though weak it failed the auction
• M15 Con­sol­i­da­tion and break down still in the way for any long thesis
• No good prof­it tar­get with more con­ges­tion in the way
• SL tighter than ASR Short which is not the worst as it was based on M5 entry but if it was slight­ly wider I could’ve scratched the trade
• Weak M5 price pat­tern for entry
• I was feel­ing tired or as I like to call it “wear­ing horse blind­ers”. I have been sleep­ing well but still felt off. I then real­ized it was a with­draw­al from the sleep­ing med­ica­tion I was tak­ing and quit cold turkey. The nootrop­ics stack has been work­ing so well that I did not have the need to take them and I just abrupt­ly stopped tak­ing them. Because of this I will take the rest of the week off and reeval­u­ate Monday. 
• Could I have pre­vent­ed this? Yeah, I should’ve been more cog­nizant of the fact that I was com­ing off of the meds. In hind­sight I feel the same way when I did the Keto diet very wrong­ly as well as quit smok­ing at the same time. Luck­i­ly we have good risk man­age­ment rules in place: If I have 3–4 trades hit­ting full stop it is a big red flag. Some­thing is up. I usu­al­ly have good trades so when­ev­er this hap­pens I need to reeva­lute. Is there some­thing wrong with me or has the mar­ket regime changed and do I need to reassess my approach to the mar­kets? Les­son learned. 

Next Day Analysis

• Tar­get hit?
  • Yes, ‑1R
• Time-based Exit?
  • -1R
• Over­lap Noise?
  • -1R
• End of Day?
  • -1R
• High­est R multiple?
  • 0.2R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is Down 2/3, 

Pre­mar­ket prep on the day: ‌

• Twit­ter
• Insta­gram