Daily DAX

Mon 16th Sep

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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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15:20

Example of low quality M1 Buy MAB at TOR

This is great example of a low probability M1 Buy MAB due to the context. It had decent structure but the context was poor due to the range bound nature of the session so far.

This was a failed break-out of the range.

 

15:07

Today’s Video

 

10:31

Example of low quality M1 Sell MAB

A tough range bound session offering no decent setups and the M1 sell MAB marked up is an example of a low quality M1 MAB.

This type of price action we must learn to indentify and leave well alone! What can help is to have on display great setups to remind you of what “Juicy Salmon” look like.

Time to switch to other projects for now……

09:12

Price is currently range bound

Price has not offered any setups as it’s been range bound so far…..

A move down to and break below 11350 might offer some sell setups but the bullish mood is still dominant.

An impulsive move that makes new highs might offer sell setups….

08:42

Early setup from Friday

I forgot to post this on Friday, a great example of a pre London Open setup that was worth taking. I was not at my desk but spotted it as soon as I looked at the charts just before 8am.

What makes this trade compelling is the excellent Role-Reversal – Look-Left.

Fri 13thSep

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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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12:41

Buy Setup@Yes High

I switched to buy mode when price broke clearly above Yes High. The 61.8 level was perfectly confluent with it for a buy setup with decent Role-Reversal AND it would be with the bullish trend!

I had to leave my desk so used a Buy Limit as shown, however, price reached the 50% level and moved back up.

I have to switch to other projects so will cancel the buy limit. This morning I seemed to see only TOR sell setups.

11:54

Second sell loser, selling at Top of Range

I’ve just taken my second sell loser, both trades were trading micro-structure at the top of a range, however, the bullish momentum has gone against me.

This second trade had a poor entry due to a bit of FOMO, however, it would still have failed had I got a better entry at 12470.

Price had creeped up to Yes High after a strong move up off the key level@12435, a level overlaid from the M15/H1 timeframe, the M15 chart below shows why I was looking to see if it would be the Top of a Range at:

  • Yes High
  • The H1 EQZ Midline@12473
  • Top of a M15-H1 KeyZone

I was trading into a bull move but the plan was – if right – to trade price back down into the range for more than 2R.

See below how precise the top of the range@Yes High is.

11:45

First sell loser, selling at Top of Range

I took the first sell setup when price reached a possible to TOR at the key level of 12435, see M15 chart above.

If correct I was looking for more than 2R on the way back down into the range, not this time though as the bulls continue to be in control.

Thu 12th Sep

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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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13:38

Today’s Video

 

13:02

Reminder of Red Flag/High Impact News

I’ve just taken a look a the price action since the earlier trade, a reminder of why we don’t trade during High Impact news annoucements.

10:17

GZ M5 Sell MAB Winner, +2.49R

After passing on the earlier M1 Sell Micro-MAB at Yes High I anticipated the sell FIBCON at the next retrace to Yes High as shown. It went on to become an M5 Sell MAB whilst I was in the trade.

I did consider going for more profit but closed out for +2.49R, price has since continued on down but pleased with the trade.

Below is the M15 chart showing a KeyZone that was used to support entering and managing the trade. This is a great example of how we use all the timeframes to trade.

08:48

Passed on great sell M1 Micro-MAB 🙁

I just missed taking this fast moving M1 Sell Micro-MAB on the retrace back up to Yes High.

It was cracker, I was again too fussy and wanted price to reach the 61.8 level@12400….

This a great example of how you need the Trade Tool to trade these fast moving intraday setups.

Wed 11th Sep

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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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15:19

Today’s Video

 

10:27

GZ M1 Buy FIBCON Winner, +4.09R

After just missing the earlier M1 Buy MAB I marked up the following FIBCON that resulted from the HH – point B that it produced. My stop ended up being just above the 12350 level and was tested twice before price moved up.

I moved my target based on the bullish trend up to the next M5 KeyZone and closed out for +4.09R profit. This was a trade of fine margins that on this occasion worked out for me. The Role-Reversal structure at the previous HH was key in my decision to take the trade.

On another day I’d have gotten the entry I wanted on the earlier M1 Buy MAB but that’s trading. However, points B and C of it became points C and A  respectively of the next buy setup which shows how we must be patient and wait for a setup to come to us.

09:11

GZ M1 Buy MAB – Just missed!

At 8am price moved up briefly to the H1 KeyZone@12350 before moving back down to find support in the M5 KeyZone above Yes High. When price moved up strongly and broke above 12350 I marked up the M1 Buy MAB.

The Role-Reversal was excellent between 12337-12340 but price failed to come into the GZ and moved up strongly off the 12342 level, this level was the top of the wicks that formed the GZ – Look-Left.

I really liked the setup and was poised ready to enter, it felt like a juicy salmon had swum tantalisingly close to my strike zone before quickly moving out of reach!

I’m pleased that I anticipated the setup, I’m pleased I waited patiently for a value entry, I’m pleased that I didn’t chase price when it failed to reach my trade entry level.

 

Mon 9th Sep

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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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19:02

Today’s Video

 

12:26

Another loser BUT also a decent winner of +3.62R

I took a third losing sell trade which was FOMO for sure then took a fourth and moved my target down to just above the M5 KeyZone as it was a reasonable target for the bears if the were able to push price down.

I walked away and came back 30 minutes later to see it came in 🙂

I’m pleased the traders equation means I’m +0.65R in profit for the day but NOT pleased with my trading!

My read that price was probably going to move back down into the range was correct BUT FOMO kicked in!

11:48

Two sell losers back into range!

When price looked like it was going to move back down into the range I took a sell trade. However, I didn’t have point A taken from the High, if so I’d have a better entry and possibly a 2R winner?

I took a second sell which had good structure and role-reversal but didn’t work out.

Buy trades are the better option as price has been in an uptrend for the last few days.

10:14

GZ M1 Buy MAB – Again!

After price moved down to test the Open and the bottom of a KeyZone from the Higher TF@12188 I passed on the sell@PW/Yes High when price moved back up.

The reason for this is that trades in the lower/upper third of a range tend to be lower probability as price is moving back up or down into the range.

However, I was ready to take the M1 MAB buy setup but wanted price to test PW/Yes High only on this occasion the M1 MAB was enough. Easy afterwards but entering on the MAB with the stop below the PW/Yes High was the one to take!

I was a little fussy this time.

So, no trades so far today but close to taking a good buy setup and pleased I passed on the sell as mentioned above.

Below is the M15 chart showing the range mentioned.

So far today the two M1 Buy MABs have been the only salmon I’ve spotted but missed taking 🙁

 

08:25

GZ M1 Buy MAB

A late start this morning, at 8:11 a decent M1 Buy MAB formed after the 8am A-B leg. It gave a perfect move back up to point B.

Fri 6th Sep

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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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11:17

Today’s Video

 

11:08

Losing Sell Trade – Large Gap!, -1.90R

I took the first decent setup I liked, it was a sell trade and I captured it on video. It resulted in a loser of -1.90R due to the largest gap I’ve experienced, however, I’d take the trade again, it ticked all the boxes – imho – but just didn’t work out on this occasion.

NFP soon so I’m done for the day.

07:16

M15 MAB – Early Breakfast on NFP Friday

I’d not marked this up prior to the 7am open but afterwards it was clear – as always 🙂 – that this was an M15 Sell MAB that was fast moving but structurally etc. it was a decent – but fast moving – trade!

Below is the 5 minute chart showing the same setup, note the Role-Reversal that supported the setup.

The move back up is a reminder of how important it is to get and out of these setups and not be greedy.

Thu 5th Sep

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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:

12:33

Today’s Video

 

 

10:41

Missed this M5 Sell MAB

It all looks a bit noisy but I’ve marked up a great M5 Sell MAB after a bear spike price down into the KeyZone/Range. I came back to my desk to see this sell setup but was just too late to take it 🙁

However, it had the following:

  • Great structure.
  • Great Context.
  • A perfect Measured Move.
  • Perfect Outer-Inner FIBCON structure.

It was an ideal setup to use a custom Sell Limit Order that filters price spikes at Price Action Grid intersections where the energy can be very high.

 

09:35

GZ M1 Buy Micro-MAB Winner, +2.02R

I’m really pleased with this one for the following reasons. 

I anticipated it  the buy setup after price has found support at the bottom of a Higher TF KeyZone (12088) – see M15 chart below. It took about 45 minutes to find support before the price action indicated that the bulls would try and move price back up into the zone.

I was anticipating a Reversal FIBCON which did form but was so fast as to be untradable but point C on that became point A for the buy setup.

I did consider going for more profit but decided to take the 2R and build my bank after a few losers yesterday.

I’m finding the focus purely on horizontal structure very helpful and when cross-referencing with the higher TF’s it’s very powerful.

Below is the M15 chart showing the bottom of the KeyZone@12090, it is also the Golden Zone from the bull move up. Yesterday I missed a similar zone and took a loser – not today 🙂

Wed 4th Sep

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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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16:32

M1 Sell FIBCON Loser, -1.11R

I waited for price to break below the 12013 level (Magenta line) and entered a sell trade when price retraced back up to it. It took nearly 56 mins to play out which tells me it was a major battle zone like the earlier trade.

I decided to let the trade play out as there was a perfect measured move down to Yes High and the 12013 level had decent Role-Reversal, however the bears were unable to push any lower so it didn’t work out.

I’d take the trade again!

 

 

13:06

M1 – noisy – Reversal Buy Setup

This shows the reversal setup that was in play, it was a noisy one but it shows clearly what price was trying to do after testing the 61.8 level from the earlier bull move up, see M15 chart below.

The trade was decent apart from context.

12:39

M1 Sell FIBCON Loser, -1.18R

I took the sell FIBCON at the 12027 level but this one didn’t work out. The level was a battle zone as the trade lasted nearly 40 minutes until the bulls eventually pushed price higher.

I think I’d have passed on the trade had I cross-referenced it with the M15 chart as shown below.

See the up arrow, I sold into the Golden Zone produced by the earlier bull move up off Yes high/PW High + 11987, I forgot to factor in the Higher TF context 🙁

11:04

Missed M1 Sell Micro-MAB!

I had to leave my desk and came back to see that price had broken below the bottom of the range to produce a decent M1 Sell Micro-MAB.

 I think I’d have taken this one, the Role-Reversal was excellent!

10:38

Two M5 MAB’s so far…

Back trading today after a week away…

At 7am price broke above the D1 EQZ@11987 and has remained short-term bullish and is currently in a range.

The only decent setups have been the two M5 MAB’s as shown. I passed on the first one just after 8am as it looked very bearish in real-time.

The second one was less bearish in real-time but I talked myself out of it 🙁

Both would have worked out and were were with the trend.

Fri 23rd Aug

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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:

10:17

M1 Sell Micro-MAB losers, -1.27R – gapped

This was an aggressive trade trying to catch a bear move bakc down the range. Decent structure but not great context!

10:12

Example Custom Sell Limit that worked well 🙂

This is a good example of the custom Sell Limit order that only triggers if price has pushed through by a specific amount and then reverses.

The idea is to filter spikes at levels of high energy often seen on the DAX.

Thu 22nd Aug

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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:

10:35

Early Sell winner, +2.02R

I missed the sell at the PW High and came back to my desk to see it would have been a great freaking trade!!!

When price broke below the Open I entered (a wee bit of FOMO in play) a sell to catch the move back down into the range. I decided it track price down but ended up getting stopped out for the 2R after price briefly reached +6R before retracing. 

I’d marked up the wrong GZ and should have kept my stop above the structure marked up. I’ve learned alot this morning, some decent price action.

 

 

10:32

8am Spike and an M5 Sell MAB

At 8am price spike around and made trading a decent M5 Sell MAB tricky, that’s why we avoid being in a trade at this time.

10:28

Very Early Breakfast!

At 7am price immediately moved up to test the 11722 level which was also an M15 MAB, 2R in a few seconds!!

These are very rare, haven’t seen one of these for a long long time but it was perfect if you’d been sat ready having anticipated this at the 7am open.