-Trade L- Tue 2024 09 23 - DE40 6pm H3 - Momentum

Sep 24, 2024

|||||||||||||||||||||||||||| Stats ||||||||||||||||||||||||||||

Stats Day:
** 08:00 H4 double color, - NO
** 09:30 VOLD ?NA?, AD ?NA?, Senti -35, Agio St +0.05, Lg +0.02, - Range
** 09:45 VOLD ?NA?, AD ?NA?, Senti -14, Agio St +0.05, Lg +0.05, - Range
** 16:15 VOLD ???, AD ???, Senti ???, Agio St ???, Lg ???, - Range/Long/Short

Stats Week:
** DE PMI: - lower,
** EU PMI: - lower,
** US PMI: - lower,
** Mon Morning rule - Break on Monday by H3 hammer,
** Tue returned to W1 trend - UP,

Stats Month:
** Sep turn - pending,

Stats Year:
** US Election,

|||||||||||||||||||||||||||| Trade Taken ||||||||||||||||||||||||||||

Trade Taken:
** Time frame:
* H3

** Time:
* 06pm,

Set-Up:
** Trigger for trade:
* Momentum Long,
* Mon Morning rule,
* Tue returned to W1 trend - UP
* Senti -47,

** Mom Width:
* 1 candle - strong,

** Mom Type:
* 3rd directional - risk at last Mom turn,

Risk Reward:
** Risk:
* last Mom Turn,

** Target:
* R 1:1

Sep 25, 2024

Trade closed: stop reached

** Results:
* Trade in SL on 6am candle

Analysis:
** Was trade executed correctly?:
* Based on an engulfing H3 hammer trade opening - yes
* Momentum was based on that engulfing hammer
* Per rule book momentum should though consist of at least three candles

** Improvements:
* Trade momentum exclusively if min 3-candle-momentum
* If uncertain about engulfing, get confirmation from DAX chart