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 waited patiently for this M5 Sell MAB after the 8am sell off.
Point C was at Yes High so I placed my stop above the 61.8 level and it came close to taking me out got away with it. When price wetn down to +1.50R I moved my stop but it was too close to Yes High and look what happened!
I just got stopped out before price sold off, I’d also moved my target to just above the D1 EQZ@11693 so it would have been at least a 3.5oR trade.
The lesson is TRUST Grid structure and use it to protect stops by allowing room!
Nooo, that was such a great trade!!
It deserved to have a +3.5R next to it 🙂
It’s amazing to see how the market sometimes approaches key levels, hesitate a little bit and then boom, a clear, energetic movement does the job.