daxtrader

Mon 29th Apr

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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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12:53

No trades today

Back at my desk today but no trades this morning. THere have been no A-B-C patterns that conform to our trading edge.

After the recent bull move up the the D1 EQZ@12283.7  price is consolidating and ranging.

Thu 25th Apr

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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:

10:12

GZ M1 Buy MAB

Just taken a look to see what’s been going on and spotted an M1 Buy MAB after price found support at the D1 EQZ@12283.7.

Point B was not a stand-out Higher-High but it had good context coming up off support. There was also good Role-Reversal in play.

Retrospective analysis is easy to do but when you’re not trading it can be useful as it helps to develop the pattern recognition skill required.

08:50

GZ M5 Sell MAB

First day back at my desk after an extended trip to Israel.

A tricky M5 MAB took place as shown above. the 61.8 level was confluent with the Open and entering with a very tight stop at the level might have resulted in being stopped as price wanted to briefly push through the M5 MA before the bears were able to drive price back down.

It was structurally a decent A-B-C with point A being the high of the 8am candle. 

The D1 EQZ@12283.7 is a key level.

Wed 3rd Apr

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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:

11:29

GZ M1 Buy MAB at 8:11….

The last few weeks or so I’ve not traded due to a project that has consumed me and means I fly to Israel tomorrow for 12 days.

However, I’ve just looked at this mornings action to see a great GZ M1 Buy MAB at 8:11 am. It had great structure, great Role-Reversal and great context. An example of how if we’re patient and take only the best probabilties are on our side. The higher timeframe context was also short-term bullish so more than 2R was possible.

We know they will come, we just don’t when and this one was soon after the London open, that’s why Being The Bear is key 🙂

Thu 7th Mar

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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:

13:07

12:45 EUR News

At 12:45 the EUR Red Flag News announcement came out and caused the bull spike.

This morning was a great example of the market going into a holding pattern (range) whilst waiting for a major news event to take place.

Note how price had enough energy to break through the area of RESCON that the 8am spike failed to, it briefly retraced as the zone turned to SUPCON (Role-Reversal)

Below is a reminder of what news event can move the DAX.

10:51

Today’s Video

 

09:05

8am spike to RESCON

At 8am price spiked up to RESCON consisting of:

  • Open
  • Yes Low
  • PM High
  • H1 MAB

The H1 MAB meant our edge was in play but it’s very difficult to trade the 8am Open with price moving so fast.

 

09:02

Range bound so far this morning

This daily chart shows price oscillating around the midline@11545.9, this has resulted in a range bound session so far.

Wed 6th Mar

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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:

11:11

Today’s Video

 

09:23

GZ M5 Sell Loser, -0.26R

This M5 Sell MAB started well but didn’t work as the bulls defended the H1 EQZ mid-line@11580.4 so after cross-referencing with the H1 and M15 charts I closed out for a small loser.

It proved a good call as soon after the bull spike took place. My stop was quite generous but it would have to have been perfect to have gotten the 2R out of this one.

I’d take the trade again as it qualifies as one those setups that was good enough to take but didn’t work out.

Tue 5th Mar

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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:

09:14

GZ M1 Buy MAB Winner, +2.14R

This was great M1 Micro-MAB buy setup that did test my stop before going on to win 🙂

The 11600 level was a key piece of confluence along with excellent Role-Reversal.

Thu 28th 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:

08:27

GZ M1 Buy FIBCON

Saw this buy setup after the event, it had better structure and context than the earlier sell setup as price was coming up off the major D1 EQZ@11397.9

Not an easy trade to take as the M1 Buy MAB might have been tempting but so long as your stop was below the M1 EQZ@11415 it might have worked out?

08:18

Aggressive Early GZ M5 Sell MAB

At 8am price moved up off the D1 EQZ@11397 to form an M5 Sell MAB. I passed as it was very close to 8am and it was hard to tell if Yes Low was the first target of the the bulls.

Thu 21st 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:

10:36

Today’s Video

A short video today.

09:47

GZ M5 Sell MAB Winner, +0.70R

A Counter-Trend M5 MAB sell setup formed after price made the session low just above the D1 Bear Channel. I successfully ignored FOMO and decided it was only worth taking if price reached the M5 MA at the M5 EQZ@11431.5

I used a custom sell limit order and was almost stopped out before the bears managed to drive price back below the Open.

However, due to the context of coming up off the D1 Bear Channel I closed out once the M1 MAB looked like it would push price back up, it proved a good call and resulted in small +0.70R winner.