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….
Got off to a good start with a buy FIBCON at the 11504 Grid level.
Point A was taken from Yes Low, point B at the 11578 level – BOTH M30 Grid levels.
Really pleased with the entry using the Trade Tool.
After 8 am price held above Yes Low so I went into buy mode as price moved back the range from yesterday.
Below is the second trade, this one was a loser but I’d take it again.
Why?
I was waiting for a structural break below the 11560 level which we eventually got, the first PB reached the first line of RR as shown by the black line, this was an M1+M5 MAB.
I was wanting a deeper PB to the 11578 level which came later after the M15 buy MAB sent price back up. That one failed but I’d take it again the RR was excellent.
Below is my third trade, a buy REVFIB winner 🙂
I was really pleased with this one as I’d set alerts to let me know when either the TOR or BOR was in play.
When I heard the alert I came to my desk and watched and was rewarded with a juicy salmon to end the day – week and month.
This week we’ve seen a few buy REVFIBs and after last week where I unable to focus and execute them this week has been the perfect turn-around 🙂
