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’m a bit gutted as I’d anticipated this buy Reversal FIBCON, sent out an alert and then ended up with a BE trade only for it to go on and be a winner 🙁
I was early with my entry but it would of been ok. I should have walked away and let it play out as I closed out when price pulled back to my entry.
Have not been tuned in to the Price Action today!
There was a Reversal FIBCON off the high but I missed it 🙁
I’d limited my thinking to one forming if price came back down below 12873.
I took the buy set up at 12873, it had good structure and context but did not work out.
The Role-Reversal was decent, but no follow-through from the bulls.
However, there was a Reversal FIBCON, see post above.
I was late with my entry and also felt the setup was tight so I closed out for BE once price moved back up from point B.
This was also a bull channel, see below.
I’d like to see price move above the High and if it fails then maybe we will see a better sell setup on the way back down?
Guys, if someone adds a comment then you need to regularly refresh the page to see them.
If I update the main blog I will send out the blog update and it will automatically load a new tab into the default browser as you already know.
If I add a new comment that I want everyone to see I will also send out a blog update to force a refresh.
So far the Open has held price, maybe that’s enough to send price back down into the H4 EQZ@12788?
If price moves up to test the area of RESCON at the D1 EQZ@12873 and fails to move higher we could see a Reversal FIBCON sell setup form?
This is already the current session High and has two midlines present.
It is also just above the PW High.
The D1 EQZ@12873 level is a key level and can be seen on the Daily chart.
Looks good, I’ll be keeping an eye out!
There’s also what looks like a 5-wick reversal pattern on the H4 for extra confluence.
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_H4_08jun2020_0800_xxxxxxxx_xxx.png
Hello stranger, glad to be here again and see you trading!
Yes, the area of RESCON is wicky showing some strong selling.
Approaching that level!!
I hear you..
Hi Guys,
So far the Open has held price.
Good to see Alex back and a Welcome to rabster 🙂
You going to do a video on this one ?
Yes, I’m all set up to video this if price moves up to test the high. I’ve also set up an alert zone – see latest post above – (pink) to alert me if price reaches it.
This means I can close my eyes and meditate or go for a wee stretch 🙂