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 took a look later on to see the M5 MAB had formed and again this was decent due to the confluence at point C:
- 61.8 level@12068
- M5 EMA
- Bottom of KeyZone
- Great Role-Reversal – Look-Left.
There was an Inner-FIBCON Golden Zone that was active sending price back up briefly for another M5 MAB at the 50.0% level@12060 before price sold off strongly.
This was actually a “Double Sell Golden Zone Multiple ‘R’ Setup”
I’m on the road this week staying with family so I’m not trading though I’m keeping an eye in things and marking up any setups I see that conform to our trading edge.
This sell M1 MAB after the 8am open was decent with the entry level being supported by a micro-KeyZone on the M5 chart. It turned out to be a great opportunity to land 2R or more.