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….
An M1 Buy Micro-MAB formed after price broke above the H1 Bear Channel and the D1 Bull Channel.
It was structurally very good though contextually you could argue it was maybe the top of a range??
The components of the Grid are once again playing a key role in the formation of this mornings setups.
An M1 Buy FIBCON formed after the move back up off the PW Low.
The setups so far ths morning have all used the H1 Bull Mid-Channel@10690 for their Role-Reversal.
An M1 Sell Micro-MAB would have worked out but I passed due to the context as it would have meant selling into SUPCON which includes the PW Low
A decent M5 Buy MAB took place at 8:25, it was structurally good, I passed due to the dominant bearish mood at present and wasn’t sure if price would test the PW/Yes Low and M15 MA just below it.