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 a series of poor decisions to start the session I was pleased to end the day only down one winnning trade 🙂
I came back from walk and just happened to see the M5 Buy MAB setup.
I used a custom buy limit at the PW Low and bottom of M1 Micro-Channel and it operated exactly as intended. Price spiked through to just above the stop but I wasn’t in the trade so was not bothered :), it then reversed back up and entered the trade to go on and be a text 2R winner….
A perfect response to a morning of poor decisions, SO glad I took it!
Another loser but a better trade – I think?
Either way it’s not happening for me today so time to stop and walk and bath Harvey then take Elaine to the station for her trip to Scotland.
I passed on an M1 MAB at 07:14, it was decent with the PW Low in play.
More poor decisions followed 🙁
Two losers, I chased price which often results in moving the stop.
Whilst waiting for the M5 MAB I had a dose of FOMO and then closed out as I knew I shouldn’t be in the trade.
I’ve been waiting for the M15 MAB at the D1 EQZ@11398…
Back to basics!
You marked perfectly that A-B with a C on the Hourly Bull Channel, it is right there where we should be trading!
Spot on!!!
I was in sell mode even after price turned bullish after the low was set. Like Joel I was close to taking the buy 9:49 at 11363+H1 Bull Channel but talked myself out if it.
The 9am H1 bull candle off the low was a clue as to why the M15 Sell MAB was also a low probability.