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
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:
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