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….
When price made a LL I took the M1 Sell Micro-MAB, did not work out!
It was also an M15 Buy MAB at point B so I should have left it alone as it was also a C.T. trade in a bullish environment.
It had decent structure, good RR, I’ve seen these work out but not this one.
When price moved back above Yes High I was interested in a buy trade and therefore setup a Buy Limit as shown. It was designed to catch the M5 Buy MAB – Red MA – and I liked the confluence:
- 13250 level
- 61.8 level
- M5 MAB
- Bottom of KZ
- Good Role-Reversal
I had to leave my desk and when I came back price had just stopped short of triggerring before moving on up just before 11am. Once again, such fine margins!
I took point A from the 10am candle at 13234, maybe if I’d have used Yes High I might have set the buy limit to trigger higher. Either way I followed my process, let’s reset ready for the next setup.