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….
This trade was very similar to the earlier one only this time the 2R would have come in had I not moved my target. I trailed my stop just above the MAs and ended up with a small winner.
It had good structure and OK context as price had failed to hold above the H1 Bull Channel and the H1 EQZ@11133.5
My 2R target was ideal in that it was above point B and the earlier point B, should have left it alone but very happy with the setup.
When price broke back below the H1 Bull Channel and the H1 EQZ@11133.5 I took the M1 Micro Sell MAB at point C. It started well but was a short-term Counter-Trend setup so I reduced my risk straight away.
I moved my stop to just above the Grid structure for protection but the bulls took over so I ended up with a small loser.
Overall not a bad trade, structurally it was decent and I’ve seen these workout. Contextually it was a CT trade and was managed accordingly.
A bullish overnight session has led to price moving up to the D1 EQZ@11104.0, the FIB tool shows a Golden Zone between 11124.7 – 11187.0?