How did I trade today? 20220511

#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

3 Ses­sion PECS

3 Clar­i­ty — in tune with price

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DAX

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Hypos Cre­at­ed — DAX:

• Hypo 1
  • Short
  • Failed Auc­tion
• Hypo 2
  • Long
  • Late-Sus­tained Auction
• Hypo 3
  • Long
  • Auc­tion Fade, pos­si­ble 3‑I Day
• Hypo 4
  • Short
  • Auc­tion Fade

Hypos Played Out — DAX:

• Hypo 2 Long-Sus­tained Auc­tion played out. I took a paper trade off of break of IB as such but did not want to take an actu­al trade due to the open inside val­ue sen­ti­ment. I gath­ered a close above IB and pull­back to IB high would’ve been a safer entry. 
• Although the D1 Bull­ish Inside Bar at W1 QLO, com­bined with H4 Phase 1 / 3 (cross­ing VWAP to poten­tial break out) could’ve been a way to get involved. I’ll need to track this. 
• When G start­ed an auc­tion fade I did not want to go long as it was late in the ses­sion. Hind­sight shows this could’ve been anoth­er long entry although I made the right deci­sion as price ducked far below pro­file structure

Trad­ing Win­dow Close

Was it the right Hypo?

• Yes, it was. I didn’t put it as my first hypo due to the open sen­ti­ment and mixed trend narrative. 

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Gold

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Hypos Cre­at­ed — Gold:

• Hypo 1
  • Long
  • Mean Rever­sion, Sus­tained Auc­tion, risky with not much of a prof­it tar­get to val­ue edge
• Hypo 2
  • Short
  • Return to Val­ue, Rever­sal, Pos­si­ble Failed Auction
• Hypo 3
  • Short
  • Late-Sus­tained Auction
• Hypo 4
  • Long
  • Auc­tion Fade

Hypos Played Out — Gold:

• Hypo 1 — Sus­tained Auc­tion, I wait­ed for D TPO to close above IB and saw a pos­si­ble entry using a tighter SL for a 1.7R tar­get at VAL so I went for it. 
• Rea­son for the trade: open sen­ti­ment, H4 Morn­ing Star at D1 QLO and DTPO clos­ing above IB (need­ed more con­fir­ma­tion as trend was still down 2/3)
• I gave price long enough to reach tar­get but it didn’t. So at no/on I took the trade off as price had not made a HH although did trade above IB. I wait­ed long enough.
• Price start­ed react­ing at D1 QLo and H4 Morn­ing Star was cre­at­ed with a push higher
• I was a bit late with entry

Was it the right Hypo?

• Yes, it was Hypo 1 at 1st DTTZ

Did I take advan­tage of any opportunities?

• DAX
  • I want­ed a long as per hypo 2 but price moved away too far and did not pull­back to IB high
• Gold
  • Long as per Hypo 1, found a way to have a 1.7R tar­get at VAL with tighter SL
  • D closed above IB, E closed as an invert­ed ham­mer at IB High (weak failed auc­tion)  / M15 bear engulf, although price made a HH and could still be a sus­tained auc­tion albeit low ini­tia­tive. Stick­ing with it. 
  • Although no HH is made price has been inch­ing high­er cre­at­ing slight­ly high­er structure.
  • Took trade off at noon as price had not made a HH

Things I did well:

• Wait­ing for con­fir­ma­tion of close above IB on Gold before enter­ing due to the down­trend 2/3 
• Stick­ing with the trade and giv­ing it time to develop
• Read­ing of pro­file to guide my decision

Things I need to keep work­ing on:

• Could have entered on D TPO close but I hes­i­tat­ed a bit then jumped in anyway

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

20220511 Pre­mar­ket Prep DAX

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20220511 Pre­mar­ket Prep Gold

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