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….
No trades so far but buys setups are with the dominant bullish energy.
This morning has been a great example of the market cycle Spike – Channel – Trading Range.
Today I’ve felt much more tuned into the PA than yesterday, it was so weird looking back.
Yesterday the bulls drove price above the PM and PW High and have just broken above the EQZ@13169. What now?
I had a poor day yesterday which resulted in over-trading BUT there is one thing I learned:
When price is coming up (or down) off a REVFIB get out of the way!!
Just after 8 am yesterday price found support in a KZ I had marked on the H1 chart, it produced a choppy buy REVFIB then never looked back. This MUST become a rule I hardwire in my decision-making process even if it means at times I miss winning trades.