Wed 8th May

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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.

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15:10

Today’s Video

A bit late today as I had to pop out for a few hours.

 

10:45

Sell winner

I marked the correct A-B-C after the micro sell loser. I missed the best entry BUT decided to enter due to the context and bearish price action since setting the high. 

I moved my target down and closed out for a +2.54R winner 🙂

Price has continued to sell off but I’m pleased with my discipline, the earlier micro sell was not great and taking the winner was a good call. 

10:40

Micro Sell loser

I took the micro sell MAB but did not work out.

10:31

Topping Pattern

Price set the current session high just below the H1 Bear Channel, after that I was looking for sells.

I was close to taking the two shown above. The first one was a micro sell FIBCON and I was waiting for price to come up to the 12172.3 level but it stopped just short. Structurally is was decent with good context as part of a topping pattern.

The second one I was waiting for price to come up to the H1 EQZ@12145.6 but it stopped at the 50% level and M1+M5 MAB. 

The fine margins of trading!

09:03

Great Micro Buy FIBCON

I was close taking the Buy setup after price broke above 12135.7 but passed as I was waiting for the M1 MAB.

Of course it went on be a great buy trade off Micro structure

08:57

Losing sell trade, chased price!

I broke my rules and chased price after anticipating price would reverse after the move up to the D1 EQZ Midline@12135.7, did not work out!!

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