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 ended up taking a buy Micro-MAB after the break above the Open and Yes Close. I reasoned price might target the in play D1 EQZ Mid-line@11251.0 but after starting well it didn’t work out.
Looking at the M15 chart Yes Close was also the top of a range and the break above was actually a failed breakout.
The lesson here is to have waited until price moved up more towards the 11251.0 level and then retraced, this would have reflected much more bullish energy in play rather than a low energy breakout that failed.