20210927 Trade Review DAX

27 Sep 20210927 Trade Review DAX

Play: Sus­tained Auction

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

• Result
  • 2R
• Prod­uct
  • DAX
• Open Sen­ti­ment
  • Open 1.11xASR Above Val­ue, Out­side Range, Large Imbalance
• IBR
  • 0.39xASR
• Hypo
  • 1
  • Mean Rever­sion, sus­tained auc­tion down
• Attempt­ed Setup
  • Sus­tained Auction
• Entry Tech­nique
  • M15 Three Out­side Down at 2nd DTTZ clos­ing below pre­vi­ous con­sol­i­da­tion range and IB. F start­ed tak­ing out the buy­ing tail left in C TPO.
• SL place­ment
  • 30 pips. Slight­ly tighter than stan­dard SL (35). 
• TPO peri­od for Entry
  • F TPO
• Trade Dura­tion
  • 1:21
• Long/Short
  • Short
• Lead­ing Narrative
  • Large Imbal­ance at the open with near­by D1 Sup­ply / D1 QHi with Trend being Down 2/3. Pro­ceed­ed by a fail­ure to close the gap dur­ing the first two hours even though there was an exten­sion in C TPO fak­ing a failed auc­tion. Expec­ta­tion is for a pos­si­ble clos­ing of the gap lat­er on in the session. 

Actu­al Development

Price saw a quick fol­low-through and F TPO closed well below IB and con­tin­ued mak­ing LLs. 2R tar­get was at LTF demand which got hit and tak­en out. Price is trad­ing at 3R right now. Will check back in tomor­row to see how it devel­oped further.

Good points

• Good that I spot­ted the nar­ra­tive and executed

Bad Points

• I real­ly want­ed to take the trade off ear­ly due to moves at 2nd DTTZ usu­al­ly being short in nature. Espe­cial­ly when M5 print­ed a big Bull Engulf. But due to the fact that the 2nd DTTZ was in line with the 1st gave me some com­fort. Anoth­er point I was con­sid­er­ing is that H4 could very well close high­er leav­ing behind a buy­ing wick (this was actu­al­ly not the case and H4 closed as a bear engulf). Not being allowed to take ear­ly exits def­i­nite­ly helped me here.

Next Day Analysis

• Tar­get hit?
  • Yes, 2R
• Time-based Exit?
  • 2.3R
• Over­lap Noise?
  • 2R
• End of Day?
  • 1.9R
• High­est R multiple?
  • 3.7R

TAGS: Above Val­ue, Out­side Range, Large Imbalance, 

Pre­mar­ket prep on the day: ‌

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