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:
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:
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.
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.
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.
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….
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:
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.
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.
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,
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…..
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:
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.
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:
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.
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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A possible sell setup at Yes low?
It might develop into an M15 MAB with good confluence.
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:
When price spiked down this decent Reversal FIBCON formed with confluent at point C.
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.
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.
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.
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.
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.
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.
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 trade worked out and is a great example of the fine margins we deal with. The price action just before 8am was key in the decision to take the trade.
The buy limit triggered and just like yesterday my stop was almost hit before price began to move up.
Price moved up strongly after 7am suggesting the bullish mood will continue, I was therefore looking for buy setups after 8am.
I considered two places to take point A from, the start of the bull spike at around 13190 or Yes High. Just before 8am price tested the 61.8 level (point A at Yes High) at 13236 so when the M5 MA was going to be confluent with the level on a retest I setup a custom M5 Buy Limit as shown above.
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:
I was ready to sell after price failed to hold the session high but did not get the retrace I was after.
However, Grid structure (Yes High + D1 EQZ@13167) was the – aggressive – entry point and if you’d intended to ride the move back down the range it would have been a cracker of a ride all the way down to Yes Low.
I considered the M1 MAB above the Open but it was the middle of the range and I was after a retrace to about the 13155 level, bottom the the KZ above.
I took the M5 Buy MAB just after 8am, once again it would have been a 2R winner had I not closed out when price was struggling to get above the top of the KZ.
The confluence in play was :
Price came back down and then went on to hit my target but I’m pleased with a +1.48R early winner as I have to stop trading around 10:30 this morning.
Price is still in the range after Monday’s bull move up to the D1 EQZ@13167 and I’m favoring buy trades which is why I took this one.
However, note how close I was to being stopped out, it could not have been closer and I didn’t move my stop!
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 screenshot of the M15 chart shows the current range price in after yesterdays bull move up to the D1 EQZ@13167
Best trade for me so far today!
I’d marked this one up well in advance and whilst it was in the top 3rd of the current range I really liked the setup. Point A was clear at the bottom of the KZ and the GZ was confluent with the M5 MA and decent RR.
When price was struggling I closed out as on range days it can move back down very quickly. However, 2 minutes later the 2R would have come in. That’s two trades that would have both been 2R winners had I not trailed my stop or closed out early.
Overall, very happy with this setup and execution 🙂
This shows the correct point A and therefore the GZ. Taking the M1 Buy MAB was not the FIBCON setup.
I entered a buy trade and managed to get the same 2R target but was stopped out after trailing my stop for a small winner.
Price has since gone on to hit the 2R target 🙁
NOTE: As per the trading plan, when there are two possible entries take the second – higher value – one!
I was favoring buy trades so when price began to move up into the range I took the M1 Buy MAB. It has decent confluence but at the top of the KZ but point A turned out to be at the Double-Bottom. See next post.
For the same reason I passed on the M5 Sell MAB, this one would not have worked out.
I passed on this M1 Sell MAB as price was finding support at the BOR. It was also a sell trade which is C.T. in the bullish environment
This one would have worked out.
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:
I’ve just come back to my desk to see that price has continued on up and offered an M1 Buy Micro-MAB at the to of the updated KeyZone.
This screenshot has the updated KeyZones and had they been in place I might well have taken the trade?
Price is very bullish at present so I was looking to enter a buy trade but ended up missing this one due to being too fussy. I would have preferred some clear RR structure and could not decide on the best point A.
After the event it’s clear where point A was best taken from however, I ended up over-thinking this one and missed taking it.