daxtrader 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:
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:
This M1 Buy MAB was the best trade for me so far today. It was a micro-setup but one of those I spotted and really like after the HH above 13463 which had resulted in the M5 Sell loser.
I should have used a Buy Limit so my 2R was not above point B, that would have been a 2R winner.
I was late using the Trade Tool and only got a small winner when the setup was for a 2R for sure.
This M5 Sell MAB was a much better setup but didn’t work out.
The only negative was that price was coming back up off the lows. It started well but not this time.
Not pleased due to the indiscipline that took place resulting in 2 losers!!
I took the M1 Sell MAB – Terrible Context!!!
I then chased price out of revenge!!!
I’ll put this down to first day back rustiness but no excuse, I knew better!!
When price moved back above the H1 Midline@13494 I was interested in a buy setup. I entered as shown but this one did not work out. The 61.8 level was decent support and it took over 11 minutes before the bears drove it down to take me out for a 1R loser.
In the context of price moving back the range I liked this one plus it was a buy trade which I’m favoring just now. However, price has been more choppy than rangy!
First day back after the holidays. December was a write-off due to a bug I picked that last for 3 weeks which consisted a very painful migraine that meant I was also unable to sleep 🙁
I’ve a bias to buy trades but so far no salmon have swum by.
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:
This sell setup was decent compared to my earlier trades but price was coming up off the PM Low. I’ve passed on these often enough only to see them come in but not this one.
The screenshot shows poor/over trading. I changed my mind about the M5 Sell MAB and entered late.
The Buy trade was aweful, I was trying to be smart and take a move back up to the H1 Midline@12984…….
I then switched back to bear mode and took the sell down the PW Low which worked out but not great trading at all!
My first day back trading after a week of mild flu. I feel very rusty and failed to take the early sell FIBCON pre 8am and then talked myself out of the M1 Sell MAB!
I ended up taking an agressive sell once it became clear the bears were looking to target at least the PW Low.
It should have been a +2R……..
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:
Not a good end to the day!!!
After failing to take advantage of the early bull move up which was followed by the huge sell-off I took a C.T. buy trade that didn’t work out then had a dose of FOMO and I chased price.
The result of that was a -1.76R loser..
Today was a day that could have been my best day to date but missing the early buy trades then missing the Double-top sell FIBCON meant I got caught up in the end of the move later in the afternoon.
I talked myself out of this M1 sell Micro-MAB as price was testing the D1 EQZ midline@13020 after the exhaustive type spike at 3pm.
However, the bears are still in control and this one would have worked out!
Price did fail to hold above the PW High after forming a Double-Top, there was a very bearish piece of Price Action at the DT that I did not see in real-time but I’ve marked up the early sell opportunity.
When price broke below the Open I took an agressive sell and ended up closing out for a small winner but had I not touched it the 2R would have come in.
When the M1 Sell Micro-MAB formed I took it and trailed my stop due to the 13200 level holding firm. I got stopped out only for price to have gone on for the 2R – again 🙁
See the M5 chart below for the Double-Top – Note the interaction with the KeyZones.
After not taking any trades on the bull move up off the Open after 8am I was anticipating that price might struggle to hold above the PW High as this may well be the top of the current range on the daily chart.
The 61.8 level was perfectly confluent with the PW High.
The setup had alot going for it except it was sell trade in a bullish mood, this one didn’t work out.
Below are the two buy setups I failed to take, the first one – the M5 MAB – I over-thought, the second one at Yes High I was – once again – too fussy!
Being too fussy has become a clear pattern of behaviour in my trading as I’ve documented over the last few weeks.
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:
This is a very similar buy setup at SUPCON to yesterday – see below. Always so clear after the event but I was expecting that price might reverse back up into the range and failed to take a decent buy setup which resulted in multiple R due to the context.
Below is the Reversal Buy FIBCON from yesterday morning, the key piece of structure to support the buy trade was that price was reversing back up off Yes Low.
For today the key piece of structure to support the buy trade was that price was reversing back up off a zone of SUPCON made up of the D1 & H1 EQZs.
These MUST be taken as they can offer multiple R due to the context!
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:
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:
Another range day between the Daily EQZ-Midline@13315 and the Hourly EQZ-Midline@13239 where price went all the way down after 8am then all the way back up. I was unable to find a setup that allowed me to take a trade until price moved all the way back up to Yes High.
I reasoned it was a high probability that price would stall and reverse so I entered at Yes High which was confluent with the D1 EQZ Midline@13315 and used a generous stop in case price wanted to spike through a little to the top of the KZ at 13321 which on this occasion it didn’t.
Based on the price action last week I moved my target down into the range and after 01:48 minutes I was closed out for a +2.65R winner.
I had to sit on my hands and trust structure whilst the M1+M5 buy MABs sent price back up. 13300 was the key level that had to break before the bears were able to send price down.
The M15 Buy MAB offered no support but the H1 Buy MAB was enough to stop price going any lower – for now.
Below is the M5 chart showing the price action at 8am with the Daily Golden Low-High zone overlaid.
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:
The break below the PW low offered a decent sell setup with good RR.
This one didn’t work out. The only thing going against this trade was that price had stopped just above the H1 midline@13111, I reasoned it might try to test it again, not this time.
After passing a micro buy trade using the KZ’s on the bull move up I’d already identified the H1 Midline@13239 and a possible reversal zone. It Was !!
However, I first had a loser but after reaccessing the setup using the H1 time frame I entered again but did have to move my stop above the zone. The level I chose was based on the H1 chart and it worked out. I was prepared to risk just over 2R to be on this one if price went back down.
Once again the KZ’s guided price as it topped out then sold-off.
I reasoned that this might be one of those days where the DAX goes all the way then all the way down – It Was !!
I moved my target to just above Yes High to end up with my 2nd best trade so far. 🙂
See the H1 chart below to see why I liked the sell setup at 13329
I took the early sell setup which was OK but not the one in play!
See below for the sell setup that was inplay, always easy afterwards. My direction was correct, just picked the wrong setup. Point was just above Yes High at the top of a KZ once again!
My entry was at the top of a KZ and at the Open which was why I took the trade.
