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….
The energy of the 7am Open often produces good setups.
This is a great example, the spike down at 7am was followed by a move up that did not produce a Higher-High BUT look at where the Golden Zone formed.
Perfectly confluent with:
- M5 EQZ Mid-line at 12217.4
- H1 EQZ Mid-line at 12218.6
- M5 MAB
- 61.8 level at 12217.3
Look-left to see a great short-term Role-Reversal zone. To spot these these requires being ready and in-the-zone at 7am. Then watch closely as price moves up and down as the energy of the open is injected into the market.
This setup was very good despite no Higher-High. We must be alert and actively anticipating the possibility of these ‘Juicy Salmon’ appearing to give us an early breakfast 🙂