Welcome to the daily DAX commentary where we share with members our unique take on Price Action as the session unfolds. We comment on trade setups that conform to our trading edge and how we use the hybrid Blackbox Trade Controller for MT4.
Use the comments section below to post questions and read what others are saying.
Remember to:
- Follow your trading plan.
- Practice visualization techniques.
- Review and journal your trades at the end of each session.
- And above all else Be The Bear….
I know we’re not supposed to get attached to the outcome of any single trade but “Freaking YES!!” 🙂 🙂
After my earlier loser that was counter-trend, against order-flow and then having passed on two decent buy setups off of an M1 micro-channel my patience was rewarded.
When price tested YesHigh I waited for the GZ M1 MAB and jumped on and also started recording so got some excellent footage for the website.
Note the M1 Micro-Channel I’d drawn on after the bull spike at 7am. These are very useful when drawn correctly and help fine tune trade entries.
I passed on two good entry points which was frustrating BUT Be ‘The Bear’ is our mantra and I didn’t chase price (jump in the river 🙂 ) and was eventually rewarded.
On this occasion the gap went in my favour for a +2.44R winner.
It’s 10am and I’ve got switch roles as my Best Friend and K9 Bestie are on their way home and it’s our silver wedding anniversary today 🙂
Well done to anyone who took some of the buy setups.
After the bull move up I sold at the H1 Bear Channel boundary. Ashort-term counter-trend trade, did not work out, low probability.
The bulls are in control short-term, the best setup was the M1 Buy Micro-FIBCON.
I effectively traded against order-flow, not good practice, not Being The Bear!
Great winner at 09:48!
I saw it too late and didn’t take the trade, though I have it marked up. I managed to get a +2R trade buying at yesterdays high up to the daily EQZ midline, but this trade was the better one to take!
Thanks!
Pleased with that one after the earlier loser, was most definately not a WTA!!
Well done on the winner, the most important thing is you traded with order-flow at the time. I see price is currently pulling back after failing to hold above the daily bear channel and hourly bear mid-channel.
Either way I’m done the day…
Good trade!
I marked up, waited for it, had the trade tool ready but decided no to enter the trade!
Looking at your chart, did you wait until price touched the M1 moving average to enter the trade? It looks like you waited for confirmation first, is that right?
PS: Beware of the Low-High GZ!
Yes, I sat poised ready to strike as soon as price reached the M1 MA for the MAB.
you could argure that a either a MAB pending order or standard pending order might work best in that situation where timing is vital due to the speed.
It’s a personal thing….