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 had to stop trading at 11am, another spikey, choppy range day which was tough to trade.
Oh the life of a trader in the making!!!
I passed on the next sell setup, again it was decent BUT I reasoned maybe price will move up to the bottom of the Lo-Hi zone (50% level of the session).
I blinked only to see had I entered the 2R would have come in!!
A reminder if it’s decent enough to be in those that we only need to be right 40-50% of the time then take it.
I used a custom sell limit as I had to leave my desk which worked well to take the GZ M5 Sell MAB, a decent A-B-C but did not work out.
I took the Micro-MAB after the Higher-High when price moved back up to test the Open. It was SO close to my 2R but failed, if I’d not had such a wide stop my 2R would have been at the Open.
I’m letting trades play out after missing out on several 2R’s over recent weeks, maybe I should have moved my target down to the Open??
I started with a winner after the break below the key level of 11325, I then sold twice based on A-B-C patterns but it all got a bit rangey.
I followed my process but the gravitational effect of the 11325 level meant they did not work out.