Daily DAX

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.

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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.

Remember to:

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.

Tue 14th 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:

Mon 13th 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:

13:37

M1 Buy MAB winner, +0.80R

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.

13:32

M5 Sell MAB loser, -1.10R

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.

13:26

Two losers, not valid trades!

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!!

10:18

M1 Buy FIBCON Loser, -1.00R

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!

09:42

Choppy session so far…

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.