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….
This one lasted 43 minutes so quite a battle but did not work out.
I felt it had enough going for it as the M15 channel intersection was also in play along with the 12984 midline.
Will the bulls be able to target 13169 today?
Note on the daily chart above how price has been interacting with the daily channels.
Also, when I got home yesterday evening I took a look at the afternoons PA and immediately noticed a micro decent quality M1 Buy MAB as price moved back above 12873.
What made it worth taking is that point B is a HH than the previous one at 12882 and the HHs and HLs created decent structure for the M1 MAB at the GZ.
These micro setups are powerful in that if you spot them and reason that 12910 for example might be a target then multiple R is available.
So, after Being The Bear for a few hours the reward is 3R-4R may be off one trade – see the Trade Tool.
