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….
A great example of a Micro-Reversal FIBCON back down the range in the morning session.
I took a sell when price broke below the D1 EQZ@10808 but it was counter-trend, so when it struggled to get below the H1 MAB and the 10797 level I trailed my stop and was stopped out for BE.
My stop was generous which meant the 2R target was just above the PW High, either way though had I not been closed out the trade would have been a loser.
The bulls have been in control for the last few days but the 10808 level is a major battleground just now.