20220413 Trade Review Gold

14 Apr 20220413 Trade Review Gold

Play: Late-Sus­tained Auc­tion (Aver­aged into Position)

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

Cut posi­tion in half and re-entered for bet­ter aver­age entry long

• Result
  • 1.2R
• Open Sen­ti­ment
  • 0.72xASR Above Val­ue, Out­side Range
  • Mod­er­ate to Large Imbalance
  • Asia formed a Neu­tral Day but pre­dom­i­nant­ly trad­ed higher
• IBR
  • 0.44xASR IBR
• Trend
  • Strong UT
  • H4: Up
  • D1: Up
  • W1: Up
• Hypo
  • 1
  • Long
  • Late-Sus­tained Auc­tion, prefer­ably hold above Asia
• Attempt­ed Setup
  • Late-Sus­tained Auction
• Entry Tech­nique
  • C TPO hold above IB and Asia as well as close with­in supply
  • Wait­ed for a pull­back to IB high, got put off by a poten­tial M5 rever­sal, but con­sid­ered the pos­si­bil­i­ty for a low ini­tia­tive activ­i­ty sus­tained auc­tion as D TPO had made a HH and went long anyway
  • When price even­tu­al­ly did pull back I cut my posi­tion in half and added anoth­er half clos­er to IB High
• SL place­ment
  • Stan­dard SL (400)
• TPO peri­od for Entry
  • D TPO
• Trade Dura­tion
  • 1h0m
• Long/Short
  • Long
• Lead­ing Narrative
  • Strong UT
  • Pos­si­ble D1 Phase 2
  • Pos­si­ble Devel­op­ing H4 RBR
  • C TPO clos­ing above IB and Asia as well as clos­ing with­in old H4 supply
  • Hypo 1 at 1st DTTZ

Actu­al Development

• D TPO closed as an Inside Bar above IB sus­tain­ing the auction
• Expec­ta­tion is for a con­tin­u­a­tion which came in E clos­ing high­er although not con­fi­dent­ly F took price high­er hit­ting target

Good points

• Great that I trad­ed even though not being the sharpest I could still focus on the nar­ra­tive unfold­ing through read­ing of price action and pro­file. Although did struggle. 
• Great that I went long any­way even though price close fur­ther away from IB, price could have seen a faster con­tin­u­a­tion and I would’ve missed the trade completely
• Then great that I aver­aged in by cut­ting posi­tion in half and then re-enter­ing at a bet­ter price when price pulled back.

Bad Points

• Trade went to 1.7R

Next Day Analysis

• Tar­get hit?
  • Yes, 1.2R
• Time-based Exit?
  • 0.5R
• Over­lap Noise?
  • 0.9R
• End of Day?
  • 0.7R
• High­est R multiple?
  • 1.7R

TAGS: Above Val­ue, Out­side Range, Mod­er­ate to Large Imbal­ance, Trend is UP 3/3, Aver­aged into Posi­tion, Hypo 1 at 1st DTTZ, 

Pre­mar­ket prep on the day: ‌

20220413 Pre­mar­ket Prep Gold

Dai­ly Report Card:

How did I trade today? 20220413

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