daxtrader

Thu 21st Nov

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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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08:58

GZ M1 Sell Loser, -0.88R

I wanted to see a break of Yes Low which eventually took place leading to an M1 MAB at Yes Low. The only thing going against it was that price was coming up off the bottom of the H1 EQZ@13048 but I reasoned it was worth taking as it had decent structure and RR.

On this occasion the bears weren’t able to target the 13000 level.

Wed 20th Nov

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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:

17:46

Today’s Video

 

15:04

Major Battle Zone

This major battle zone has to be resolved and until it is it’s best to stand aside.

We must “Be The Bear” and see if a juicy swims by this afternoon…

The D1 and H1 EQZ’s are play with the Open and Yes Low….

10:43

GZ M5 Sell MAB Winner, +2.01R

After setting the low price moved back up to the H1 midline@13111 to offer an M5 sell MAB. This setup had great confluence:

  • The 13111 level.
  • 61.8 level.
  • M5 MAB
  • Great Role-Reversal which was fresh in my mind from the first trade.

I had a good entry with my stop well above the KZ which was important as price poked up through the GZ a few times. Eventually it moved down so I moved my target and trailed my stop just in case the bears were going to target the bottom of the H1 EQZ@13048, I got a 2R winner 🙂

The H1 chart – see earlier post – played a role in supporting the sell setup.

10:29

GZ M1 Sell MAB Winner, +2.60R

It’s been a bearish feeling after yesterday’s sell off from the highs so I was looking for sell setups. At 8am price moved down to just above the H1 Mid-line@13111.

I marked up the M1 Sell MAB with the GZ above it, when price failed to get back above the PW Low I took the sell trade a little later than ideal but having missed so many trades by waiting for the perfect setup I reasoned it was worth it.

I moved my target down based on the H1 chart – see below – and trailed my stop to end up with a decent winner 🙂

The H1 chart below shows that if price broke below the H1 Midline@13111 then it might move down into the lower half of the H1 EQZ. 

Tue 19th Nov

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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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19:17

Today’s Video

 

19:03

Best Ever Trade, +6.79R

See video for details.

18:56

Worst Ever Trade, -3.38R

See video for details.

09:31

GZ M1 Sell FIBCON Loser, -0.92R

Another range play and had good structure and I liked the RR, not a range day so it didn’t work out.

However, the bulls were intent on the PW High.

09:01

GZ M1 Sell MAB Loser, -1.00R

This early M1 Sell MAB didn’t work out. It was a range play and had good structure and I liked the RR.

However, the bulls were intent on Yes High.

07:10

GZ M5 Buy MAB

I missed this excellent early M5 Buy MAB!

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

Note how point B is at the bottom of a KeyZone.

Note how point C is at the top of a KeyZone.

This is how important these KZ’s are and is the reason why we overlay them, lock them into postion and project them into the future.

This is a perfect example of how a great setup – M5 Buy MAB – forms when price is  interacting with them.

Mon 18th Nov

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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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17:59

Today’s Video

 

16:36

M1 Buy MAB Winner, +2.36R

At last, a winner 🙂 🙂

When price broke clearly above Yes Low I marked up the GZ and took the buy trade. I ended up rushing it at Yes Low so did not get the best entry but it worked out.

I moved my target to the top of the KZ to get a little more profit. Price did continue on up but after the kind of day I’ve had I was pleased with a decent winner to end the day.

It was my best trade of the day. It was with the bullish momentum as price was moving back up the range. The setup and context was very good.

 

16:31

M5 Sell MAB Loser, -0.95R

Took a low probability M5 Sell MAB in the bottom 3rd of the range!!

Do NOT take sell trades in bottom 3rd of range !!!!!

15:39

Missed another winner…..

I’ve done it again!!!

By waiting for the perfect entry I missed a winner :(:(

14:38

Reversal FIBCON Loser, -0.58R

I came back from lunch to see that price had sold off to just above the PW Low and spotted a reversal FIBCON.

On Friday there were two of these that were winners but I was not on them, earlier there was one that would have been a winner but I was not on it 🙁

This one I took, it was decent and looked like it might be a winner until it ran into the US Open.

It had great C.T. context, I’d take it again……

12:09

Perfect Entry – Missed Trade:(

This a classic session of how if I don’t go for the perfect entry the trades a loser, if the I go for the perfect entry I miss a winner!!!

11:57

M5 MAB Sell Loser, -1.03R

I used a sell limit at the Open. It had good confluence – RR – – and the M5 MAB.

However, it’s looking like price was coming up off the BOR and it was a sell in the bottom 3rd!!

That was the only thing going against the setup. On another day maybe the bears would have been targeting Yes Low – the full range?

Below is the M15 chart showing the range.

11:54

Better Golden Zone

The higher value GZ.

10:16

Missed Reversal FIBCON

I took a break and came back to see this Reversal FIBCON!!

After Friday this was one I might well have taken as the Open – like Friday – is in play right now.

Note that the GZ is right at the bottom of the KZ – like Friday!!

09:47

GZ M1 Sell Loser, -1.00R

I also liked this M1 Sell MAB on the retrace back up to the Open. It was close to the session Low but the RR at the Open was very good and the it was confluent with the GZ and the bottom of the KeyZone.

 

09:11

GZ M1 Sell Loser, -0.97R

I liked this setup it had good structure and I entered at the 50% level and the M1 MAB. I reasoned price might try and test the Open, which it did later on 🙂

I just got stopped out before a move back down then soon after – BAM – a huge spike up to test Yes High then all the way back down that’s the DAX for you!

Fri 15th Nov

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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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Thu 14th Nov

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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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13:24

Today’s Video

 

17:02

GZ M5 Buy MAB Loser, -0.93R

I returned to my desk to see price making its way back up the range off the 13167 level. I found a GZ by taking point A from the H1 EQZ@13175. The confluence was:

  • Bottom of KZ
  • 61.8 Level
  • M1+M5 MABs
  • Good RR, looks great on M15/M30 charts

I entered with the Trade Tool and it started well. Quite a battle followed which told me this was a major zone until eventually the bears won.

I reasoned that price would take another run at the 13200 level and maybe try higher, not this time.

12:13

GZ M1 Sell MAB, wanted price to move higher

After failing to hold above the 13210 level price sold off to produce a micro A-B leg with the GZ as shown. I wanted price to reach the 61.8 level@13204ish but the M1 MAB was enough to send price back down.

10:21

GZ M15 Sell MAB, Sell Limit triggered, Loser -0.88R

I setup a Sell Limit and left my desk. It was designed to catch the M15 MAB but that was enough to send price back down before it moved up strongly to trigger the zone and take me out straight away.

The setup was good – see M5 chart below – but I think if the M15 MAB had not been in the way this sell limit might have triggered and worked out on the first test of the zone.

The H1 chart shows why price turned around when it did, another sell zone above the one I used.

M5 chart below showing A-B-C pattern used. It was a decent setup, you can see where the M15 MAB sent price down. That was the setup and as mentioned above, had it not been in the way it might have worked out.

08:43

GZ M1 Sell MAB Winner, +2.13R

This was one of those “Must Take” setups that formed after 8am. It ticked all the boxes and is a great example of how we trade a classic A-B-C pattern.

I could not talk myself out of this one and after yesterday where I talked myself out of an M1 Sell MAB winner at the lows I took the trade.

Price has since formed a Double-Bottom and is moving back up.

Below are two screenshots, one of the trade live, the other of the Sell Limit setup in anticipation….

Wed 13th Nov

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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:

18:17

Today’s Video

 

16:17

Sell@RESCON Loser, -0.91R

I took a sell trade that didn’t work out. When price failed to hold above the earlier sell zone of RESCON I sold the move back up as shown.

Not a terrible trade but the choppyness of the DAX meant it only lasted 8 seconds.

14:55

Sell@RESCON Winner, +2.08R

I’d marked this sell up earlier and setup a sell limit. I then removed it as I was not sure if I’d be trading this afternoon then came back to see price had reached the zone just after the US Open.

I therefore entered using the Trade Tool for a nice winner!

My original sell limit would have worked perfectly, it was based on a zone of RESCON that’s clearly seen on the hourly time frame.

I’m seeing much clearly how accurate and powerful the intraday KeyZones are, had I used them I might have been able to enter the move down earlier?

The H1 chart below shows why I wanted to sell at this zone. The right arrow is where I sold, the left arrow shows why, look-left again for more support for the trade.

11:57

Value Entry@Yes Low

I also considered taking a sell trade at Yes Low but decided to go with the M5 Sell MAB. This screenshot shows how with good timing – or use Sell Limit Order – it would have been possible to have gotten a 2R setup.

The M15 chart below shows why this was the higher value setup if looking to entering a sell trade. If I’d followed my plan I would have taken the sell at Yes Low however, it was the M5 MAB that swayed me.

After such a strong sell-off to SUPCON (D1&H1 Boundaries) it was expected that things would slow down.

When selling at the lows ALWAYS take the higher value entry as per the plan!

M15 chart supporting the sell at Yes Low,

11:40

M5 Sell MAB Loser, -1.14R

I could not see a safe entry to ride the move down after the session high was made and ended up talking myself out of a decent M1 Sell MAB at the lows due to the D1 & H1 EQZ boundaries. It would have worked out!

When price came back up for the M5 Sell MAB at the H1 EQZ@13175 I took the trade. I did move my stop slightly above Yes Low which saved me once but not twice. The trade was lasted 01:13:44 reflecting the market slowing and digesting the move down.

See the post above for why Yes Low was the value trade entry…..

 

Tue 12th Nov

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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:

18:20

Today’s Video

 

13:20

GZ M1 Sell Micro-MAB Loser, -1.00R

When price made a LL I took the M1 Sell Micro-MAB, did not work out!

It was also an M15 Buy MAB at point B so I should have left it alone as it was also a C.T. trade in a bullish environment.

It had decent structure, good RR, I’ve seen these work out but not this one.

11:19

Buy Limit not triggered 🙁

When price moved back above Yes High I was interested in a buy trade and therefore setup a Buy Limit as shown. It was designed to catch the M5 Buy MAB  – Red MA – and I liked the confluence:

  • 13250 level
  • 61.8 level
  • M5 MAB
  • Bottom of KZ
  • Good Role-Reversal

I had to leave my desk and when I came back price had just stopped short of triggerring before moving on up just before 11am. Once again, such fine margins!

I took point A from the 10am candle at 13234, maybe if I’d have used Yes High I might have set the buy limit to trigger higher. Either way I followed my process, let’s reset ready for the next setup.

Mon 11th Nov

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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:

07:33

GZ M15 Sell MAB at Yes Low?

A possible sell setup at Yes low?

It might develop into an M15 MAB with good confluence.

  • The 13200 level
  • Yes Low
  • 61.8 level
  • Top of KZ
  • Good RR

 

Fri 8th Nov

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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:

16:17

Today’s Video

 

 

15:53

Reversal FIBCON Setup

When price spiked down this decent Reversal FIBCON formed with confluent at point C.

13:25

M15 Buy MAB Winner, +2.00R

This trade began as an M5 Buy MAB then turned into an M15 Buy MAB. I videoed it and was able to capture some interesting footage about my reasoning and why I justified moving my stop based on structure. 

As a result of me adjusting the buy limit zone in real-time as price came down I ended up with my stop sat right on key RR structure. When I looked the M15 chart I was able to see how a small adjustment would protect it if the zone was going to hold.

This is the only time moving the stop is justified, when structure supports it!

On this occasion it worked out, all this is captured live.

The M15 chart below shows the structure I used to adjust my stop so it was better protected.

13:17

Sell Setups?

This one did not work out, I did video this live. Overall I liked the setup apart from it being a sell trade in a bullish environment. See the M5 chart below why I reasoned it was a decent setup.

 

13:12

Sell Setups?

When price broke below the 13241 level I marked up the GZ and setup a custom sell limit order. Whilst the trade was C.T. everything else ticked the boxes for me.

13:09

Sell Setups?

After 8am price moved down then up to test what might be the top of a range, if so I was interested in sell setups as price moved back down.

12:56

M1 Buy MAB Loser, -0.95R

At 7am price moved up strongly to produce a HH and GZ as shown. I liked the buy setup due to the great RR – see M5 chart below – at the top of the KZ plus it was a buy trade.

I didn’t get the best entry but my stop was where I wanted it, however, price spiked down taking me out before moving on up. I’d take the trade again, it ticked all the boxes for me and is a great example of a ‘must take’ trade. 

See the higher time frame charts below that supported the trade.

M5 and H1 charts below, note the RR structure on the M5 and the H1.

12:45

Small winner from yesterday, +0.48R

I returned to my desk yesterday afternoon and spotted this sell setup when price made a new LL. I was generous with my stop which meant my target was below point B. I trailed my stop and ended up with a small winner.

It ended up being a “Double Sell Golden Zone” that I failed to spot in real-time 🙁

Note the 16:59 bull spike that shot up to test the session stopping just short of it.