How did I trade today? 20220406

06 Apr How did I trade today? 20220406

#fin­twit #order­flow #day­trad­ing #dai­lyre­port­card #trad­inglifestyle #day­trader­life #trad­ing­forex #trad­ing­com­modi­ties #NEXT

A small sum­ma­ry of how I did dur­ing the ses­sion. Things I did well. Things I need to keep work­ing on. Trade Reviews are part of my post-mortem but usu­al­ly I post those the next day.

My week­ly goals: 

• Trad­ing rules
  • Use SL scal­ing in case the prof­it tar­get for the set­up doesn’t pro­vide 2R for exam­ple for FA or VAA setups
  • No ear­ly exits, either hit SL or target

1–3 (3 being good)

3 Pre-mar­ket routines

1 Ses­sion PECS

3 Clar­i­ty — in tune with price

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DAX — What Mar­ket Nar­ra­tive Played Out? (Keep it short!)

• Wide IBR down. C extend­ed and closed slight­ly below IB
• Short on pullback
• D closed below IB after mak­ing a LL exhaust­ing ASR, E closed as a Bear Engulf
• Some fur­ther dick­ing around below IB
• G TPO exhaust­ed ADR
• H closed below the LTF range, H4 DBD (trad­ing win­dow close)
• I TPO moved fur­ther down tak­ing out D1 demand and hit­ting 1.2R and more

Gold — What Mar­ket Nar­ra­tive Played Out? (Keep it short!)

• B formed a Bull Engulf 
• C extend­ed and closed above although close to VAL so not much of a prof­it target
• D closed high­er just below VAL, E accept­ed and rotat­ed through

Did I take advan­tage of any opportunities?

• DAX
  • Slow late-sus­tained auc­tion entry short
  • Took trade off for 0.4R after sit­ting in the trade for near­ly two hours and Gold formed LTF sup­ply and broke down and DAX hit ADR exhaust­ing after already hav­ing exhaust­ed ASR.
  • Price hit 1.2R dur­ing I TPO
  • J TPO hit 2R and went beyond. I should’ve stuck with the trade. Will review tomorrow.
• Gold
  • I did not take a trade on gold as a sus­tained auc­tion long was too close too VAL
  • Did not take an auc­tion fade trade either due to the fact that val­ue had been rotat­ed and DAX was still bear­ish­ly inclined.

Things I did well:

• I did well to under­stand the nar­ra­tive on DAX as well as Gold. I was actu­al­ly look­ing for a deep­er pull­back into IBR (as it was wide) look­ing for a weak­ness from with­in IBR but as price closed below I went for a late-sus­tained auc­tion trade as per Hypo 3.

Things I need to keep work­ing on:

• Stay­ing with the trade until tar­get hits. Hit or bust. Sure there is an inverse cor­re­la­tion with Gold but num­ber one in any asset is its own price action. The auc­tion was still sus­tained and I could’ve stuck with the trade. Back on it. Let’s do it. 

For‌ ‌my‌ ‌trade‌ ‌plan(s)‌ ‌on‌ ‌this‌ ‌particular‌ ‌day,‌ ‌go‌ ‌here:‌ ‌

20220406 Pre­mar­ket Prep DAX

20220406 Pre­mar­ket Prep Gold

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