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….
After the aggressive M1 Sell MAB I marked up this one and glad I did 🙂
The Role-Reversal was superb and I’d identified earlier on the M5/M15 chart – see below.
I used a Sell Limit this time that worked well. The 61.8 level was perfectly confluent with:
- Bottom of the intraday KeyZone.
- Overnight Role-Reversal structure – see below.
Below is the M5 chart showing the supporting Role-Reversal structure.
After waiting for price to reach the top of the H1 EQZ (Range) I sold the M1 MAB as shown. It was too early, however, I took the much better sell setup next….
Price has slowly come up off the bottom of the range and after passing on the My Buy MAB I took the M1 Buy Micro-MAB once price broke above the KeyZone level@13529
Another case where a Buy Limit would have been better as I didn’t get the best entry using the Trade Tool.
Should have walked away as it would have come in 🙁
I must start taking these Reversal FIBCONs off the lows…
After 8am price moved down to set the current low at the H1 EQZ midline@13494, I marked up the buy setup but passed 🙁
The M5/M15 charts supported the buy setup….
+2.01R from a 5min Buy MAB at 10:43. There was some resistance at the Open, but my SL was positioned behind the 15min and 1hour emas and Yes. Close which provided enough support to send price back up for the winner.
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_M1_20jan2020_1043_16779555_buy.png
Great buy trade Joel, I saw it but passed due to overthinking – I think 🙂
-1.00R from a failed 5min Buy MAB at 12:43. After finding support at the 13533 level and going on to create a new high, I felt that we might see another 5min MAB, with a target of testing the 13550 level again, possibly trying to reach PW High.
This was a risk as there was a 15min MAB setup forming, with the 15min ema sitting near the GZ of a Fib drawn from the High to Yes. Close.
Perhaps a wider SL would have been the best thing to do in this situation, to give price more room to move around the 13533 level.
-1.00R failed 5min MAB
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_M1_20jan2020_1243_16780375_buy.png
Wider Stop Loss to give more room
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_M1_20jan2020_1311_xxxxxxxx_xxx.png