daxtrader

Tue 04th Feb

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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:

18:52

Today’s Video

12:49

M1 Buy Micro-MAB Winner, +2.01R

This M1 Buy Micro-MAB took about 7 minutes to form but had excellent structure and context.

Price was moving up towards the top of a H4 KeyZone@13240 so this was a good setup that was likely part of price making it’s way up.

The GZ was at the top of the KZ plus when you look-left the Role-Reversal (point B of the earlier M5 Buy MAB) was perfect. I entered using the Trade Tool with the 2R target just above point B, at the top of the next KZ.

This was a fast moving “Must Take” trade…

 

12:11

Missed M5 Buy MAB

I was away from my desk when this M5 Buy MAB took place.

Well spotted Joel!

It was a decent buy setup that would have been a 2R winner!

09:10

M1 Buy MAB, Small Winner, +0.17R

Price reached the Daily 13167 level as anticipated and then broke above it.

I took the M1 Buy MAB as shown. It had:

  • Good structure.
  • Good context – Buy setup.
  • The KZs were in play in at points A, B and C.

I trailed my stop once price broke back above 13175 but it failed to hold this level and took me out for a very small winner.

The only thing against the trade is the zone between 13167 (Daily EQZ) – 13176 (H1 EQZ), this is taking time to resolve. When you look left on the M30 and H1 charts you can see this has been an event zone between the bulls and the bears.

09:55 Update: The 2R just came in!

07:34

Daily Chart

It’s been bullish overnight with 13167 the next target for the bulls.

Just above this level is the H1 EQZ@13175

Mon 3rd Feb

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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.

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18:02

Reversal Buy FIBCON – Again!

Note how the Grid is confluent with points A & B.

17:38

Micro Double Bottom

Example of Daily EQZ Midline@13020 in play.

14:10

M1 Buy MAB

Just taken a look and spotted an M1 Buy MAB that was decent.

Point B, the Higher-High at the top of the KeyZone@13020 was strong and clear enough to consider a buy on a retrace. The M1 MAB played out perfectly  sending price back above point B to the bottom of the next KeyZone@13033

If you were to take point A from the top of the KeyZone@13004 the GZ would have been confluent with the bottom of the KeyZone above AND perfectly confluent with the M1 MAB. 

That’s why is worth trying to fit points A & B to either the top or bottom (using the wicks and closes) of the KeyZones in play. We NEVER force-fit but let the price action and Grid guide us.

 

 

12:34

Super-Micro Reversal FIBCON

Just noticed a Micro Reversal Buy FIBCON that formed when price tested the BOR again.

VERY tough, near impossible to trade in real-time but the thing to note is the structure and context.

Only using the Trade Tool could you consider anything close to these and control risk at the same time.

11:25

Missed The Reversal FIBCON 🙁

I’ve just noticed the Buy Reversal FIBCON that formed as price moved back up.

This did have good structure and context plus the 61.8 level was confluent with the 13000 BRN level.

I’ve seen several of these lately but not in real-time, this one was worth taking especially as I’d passed on the M1 sell MAB due to reasoning price would be trying to move back up off the BOR.

The A-B impulsive leg was very clear with point B produced by an M5 Sell MAB.

These Reversal FIBCONs Buys have some common traits:

  • The M1 MAB will be low probability.
  • The M5 MAB often will produce a point B
  • Price will retrace into the Golden Zone offering a high value entry.

I’d left my desk for a while and missed this – We MUST ask ourselves :

“If price is testing the BOR or TOR then MAYBE a Reversal FIBCON will form?”

This is where the synergy of community can benefit us all…….

10:18

Low Probability M1 Sell MAB

The M1 Sell MAB after the break below 13007 was a low probability setup due to the context. The H1 EQZ Midline@12984 is the BOR and can be seen clearly on the M15 chart.

If price does break clearly below 12984 then a sell setup might form?

08:39

M1 Sell MAB

I passed on the M1 Sell MAB due to the choppy context as price resolves the D1 Midline@13020 (and the BRN of 13000), this one would have worked out.

However, after testing the 13000 level again at point B price moved back up sharply.

We need to see price break break above the H1 EQZ@13048 to consider buy setups.

07:34

Monday Morning

After Friday’s big sell-off down to just above the D1 EQZ@12873 price has moved back up to the Midline@13020.40

We need to see if price continues to move back up or if the bearish mood continues to push price lower.

Wed 29th Jan

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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:

11:10

Buy FIBCON

Just noticed a Micro-FIBCON on the way back up to Yes High.

Note points A and C are confluent with the bottom of the KeyZones.

10:12

Reversal Buy FIBCON Off Low’s

NOTE: I’m watching the charts but not trading due to other projects I need to concentrate on today.

After the sell-off from Yes High down to the 13303 level a decent Reversal Buy FIBCON formed.

Once again note how points A, B & C are confluent with either the top or bottom of the intraday KeyZones.

They may not be pip perfect – at times they are – but you can see how price uses them.

We need to become experts at doing the same and overlaying our A-B-C trading edge!

09:45

Missed Sell FIBCON at Yes High

I’d marked up this sell setup then allowd myself to get distracted 🙁

The GZ was confluent with the top of the KeyZone@13344 which has been in play recently as seen on the M5 and M15 charts.

It had decent context:

  • Micro Double-Top at Yes High
  • GZ confluent with top of active KeyZone.

It’s one of those trades that suggested multiple R was possible due to the context.

Note how Points A, B & C are ALL confluent with the top of the intraday KeyZones!!

The more I study these zones the more powerful they’re becoming in our trading plan.

 

09:38

Low Probability M1 Buy MAB

After 8am price moved down to test the H1 EQZ@13303 which is also the top of an H4 Keyzone. I passed on the M1 Sell MAB due to the context as the D1 EQZ Midline@13315 was also in play as possible support.

Fri 24th Jan

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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.

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09:18

GZ M1 Buy FIBCON Winner, +1.99R

At 8am the bulls produced a strong move up that I was unable to jump on.

I followed the move up on the higher time frames and anitcipated that the first decent pullback of quality would be to the PW High. I used a buy limit to enter, this one worked out perfectly!

Note that point A is at the bottom of a KeyZone.

Note that point C (PW High) is at the bottom of a KeyZone.

The more I’m studying the intraday KeyZones the more I’m seeing how they can play a major role in increasing the quality our A-B-C setups.

 

Thu 23rd Jan

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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:

13:19

Missed M5 Sell MAB

Had to pop out and came back to see this M5 Sell MAB at 12:47

The retrace back up to the D1 EQZ@13463 was great Role-Reversal….

10:38

Missed M1 Buy Micro-MAB Winner 🙁

SO Frustrating!!

I decided to use a Buy Limit for this M1 Buy Micro-MAB once price broke above the D1 EQZ@13463 and it failed to trigger by 0.3 of a pip!

I’ve started using limit orders more often to avoid timing issues with the Trade Tool at times, was just too fussy on the setup.

It had decent structure, point A was the PM High, the 61.8 level was perfectly confluent with the 13463 level and the Role-Reversal was superb!

09:17

M1 Sell MAB Loser, -1.27R

I took the first sell setup after the break below the H1 EQZ@13430. I was a little unsure about the context but otherwise liked the setup and entered using a sell limit order.

My 2R target was above point B so pleased with the setup, just didn’t work out.

 

Tue 21st Jan

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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:

09:52

Missed M5 Buy MAB 🙁

After watching all morning I had to leave my desk and missed the best setup so far today!

This M5 Buy Micro-MAB was decent up to Yes Low (point B) with point A taken from the PM High.

Mon 20th Jan

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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:

13:59

M1 Sell FIBCON, +2.00R

After the aggressive M1 Sell MAB I marked up this one and glad I did 🙂

The Role-Reversal was superb and I’d identified earlier on the M5/M15 chart – see below. 

I used a Sell Limit this time that worked well. The 61.8 level was perfectly confluent with:

  • Bottom of the intraday KeyZone.
  • Overnight Role-Reversal structure – see below.

Below is the M5 chart showing the supporting Role-Reversal structure.

13:52

M1 Sell Micro-MAB Loser, -1.00R

After waiting for price to reach the top of the H1 EQZ (Range) I sold the M1 MAB as shown. It was too early, however, I took the much better sell setup next….

11:49

M1 Buy MAB Break Even, +0.11R

Price has slowly come up off the bottom of the range and after passing on the My Buy MAB I took the M1 Buy Micro-MAB once price broke above the KeyZone level@13529

Another case where a Buy Limit would have been better as I didn’t get the best entry using the Trade Tool.

Should have walked away as it would have come in 🙁

08:39

M1 Reversal Buy FIBCON

I must start taking these Reversal FIBCONs off the lows…

After 8am price moved down to set the current low at the H1 EQZ midline@13494, I marked up the buy setup but passed 🙁

The M5/M15 charts supported the buy setup….

Fri 17th Jan

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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:

09:36

M1  Sell FIBCON Winner, +0.68R

Should have played this better. I moved my target and failed to see the excellent Reversal FIBCON as price came up off the low above Yes High.

 

08:44

GZ M1 Buy MAB Winner, +2.61R

Really pleased with trade and got the bonus of a gap that went in my favour 🙂

The PW High was an obvious target once the bulls had taken over at 8am. I passed on earlier setup (at point A on second setup, no MAB in play)) at 8:12am then took the M1 MAB based on the PW Week being a high probability.

 

Thu 16th Jan

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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:

Wed 15th Jan

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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:

16:16

Today’s Video

 

07:29

M5 Sell FIBCON Loser, -1.24R

This was an early sell setup just after 7am. It had good structure and context with the key H1 EQZ@13430 in play.

It was looking good until the bulls were able to drive it back up.

Below is the pre 7am chart of the setup on the M5 chart.