20210623 Trade Review DAX

24 Jun 20210623 Trade Review DAX

Play: Val­ue Accep­tance to Failed Auction

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

Mar­ket Narrative

0.4xASR above val­ue, out­side range. Large imbal­ance. A accept­ed Val­ue and B tra­versed low­er form­ing a 0.79xASR IBR. Price trad­ing with­in H4 demand.

How was the Entry?

M30 formed a Neu­tral Inside Bar coin­cid­ing with a M15 Bull Engulf (on the hour). 

How was the SL place­ment and sizing?

I thought ini­tial­ly the SL was good 20 ticks below the M15 Bull engulf for­ma­tion. I then used a nor­mal sized SL like this:

How was the prof­it target?

Expect­ing a Failed Auc­tion and quick move through IBR the prof­it tar­get was more than enough.

How was the Exit?

I got stopped out because I thought per­haps D clos­ing as a Bear Engulf but still with­in IB and M15 Three Inside Down not clos­ing with­in demand as a sign to leave it on a lit­tle longer. Next time I’ll take it as a sign that the Val­ue Accep­tance play is still on and I could have man­u­al­ly tak­en the stop at ‑0.3 instead of the full ‑1R. 

What would a price action-based exit have done for the trade?

-0.3R

What would a time-based exit have done for the trade?

N.A.

What did I do well?

I did well to take the trade. 

What could I have done better?

I could have man­u­al­ly tak­en the trade off for a small­er loss.

Obser­va­tions

M30 demand was at VAL and made it pos­si­bly more prob­a­ble for price to rotate through val­ue before reversing. 

I’ve noticed a slight rever­sal hap­pen­ing around F TPO that I could try and cap­i­tal­ize on next time for a quick 0.5–1R

Missed Oppor­tu­ni­ty

TAGS: Good Trad­ing Idea, Trend is DOWN 2/3, Above Val­ue, Out­side Range, Large Imbalance, 

Pre­mar­ket prep on the day

20210623 Pre­mar­ket Prep DAX

Dai­ly Report Card on the day

How did I trade today? 20210623

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