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 anticipated a break below the GZ from earlier so made a note and waited. I also overlaid the KZ from the earlier SH that provided perfect Role-Reversal for the M5 Buy MAB at 07:17 which I did not see in real time.
When price broke below the GZ and began to pullback I overlaid the GZ (in magenta) and noted the 50% level was perfectly confluent with the KZ just mentioned which was now a Role-Reversal zone. I used a sell limit order with my stop above the top of the GZ and the bottom of the IKZ.
My 2R was right on the bottom of the H4 EQZ@9845, it worked out perfectly 🙂
This KZ was support in the M5 Buy MAB and now resistance in this sell setup, a great example of a Micro Role-Reversal zone.