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’ve marked up an great M1 Buy Micro-MAB that took place whilst I was away from my desk. Thank you Joel for drawing attention to this in your post.
This was a Salmon despite it being a Micro-MAB, if I’d have seen this in real-time I like to think I’d have taken it.
I’ve just come back to my desk to see that the bulls managed to take control and drive price back up above the 11694 level.
The retrace backup to the D1 EQZ@11694 was decent but I wanted more of a test of the level so missed out on that one.
The M1 Micro-MAB that followed was more of a minnow but had good structure.
A couple of 1min buy MABs I’ve marked up, with price rising from Yes. High towards the D1 EQZ at 11693.84.
I didn’t take either of these as I was waiting for a 5min MAB, which didn’t come to pass.
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Hi Joel,
I was not at my desk from 11-12:30 to see these, you’ve marked up micro-mabs and structurally they were decent. Yes High was supportive (and the bottom of the range) so they formed as part of an M1 bull move back up the 11693 level.
Once above the bulls have taken control for now.
Just closed out a buy trade at the 5min ema for break even.
If I hadn’t moved my SL, I would have hit my +2R target!
This was 100% caused by the fact I am now trading a live account, I wanted to cover my losses! As price moved up and down around the 5min ema, I was worried that there was no clear sign that price would begin to rise, however I SHOULD have left the trade alone to play out, as is part of my trading plan!
Still, I am happy that I waited for the 5min MAB to happen and took the chance when it arose.
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Great trade Joel!!
I missed this one but Elaine was at her desk and hooked this salmon for a 2R winner, see her post.
Looks like you took the same one as me Joel. It was tough for me too to sit and watch but I’m back on demo for a bit as I’m so rusty, so I let mine play out but moved my stop to lock-in some profit but it eventually hit my target.
Hi Both,
After many months away from trading and a bit of a rusty start this morning. I took an M1 buy early in the session that didn’t work out and then I just missed a great sell off the 11693 level. I then took a sell off the 11644 level that resulted in another loser. However I have just taken an M5 MAB Buy trade and bagged a nice 2R winner.
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