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….
After price reached the D1 Bear Channel it pulled back to a Golden Buy Zone as shown. The M5 Bull Channel Mid-line was supportive of buying at this level, below is the M5 chart, the arrow shows the mid-bull channel mentioned.
I was not at my desk when this took place and am now done for the day. I’m happy to lock in 2R from the early breakfast 🙂
We worked over the weekend to update the software to auto detect and download updates to the Grid structure and also produce three updated videos that highlight how cool the Price Action Grid is!
Time for a ride as the weathers decent but due to change tomorrow onwards.
There was a GZ M5 Buy MAB just after 8am which proved to be the best chance to get on the bull move.
The move back above the H1 bull channel just before 7am was a clue to price wanting to go higher??
It’s currently at the D1 bear channel around 12342.0
At 7am price gapped to the H4 MA for an untradable MAB.
I quickly marked up the buy setup to see the 61.8 was confluent with the current Golden Low-High zone at Yes Close+Open.
I took the buy trade on the retrace and 9 mins later a 2R winner at 07:12 am 🙂
I was tempted to push for more at Yes High but decided to take the 2R to start the week.
After seeing a few of these early Golden Zone setups recently I was ready at 7am and anticipating an early breakfast, this was a perfect one and glad to have caught it 🙂 🙂