Daily DAX

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.

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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.

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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.

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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.

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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.

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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.

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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.

Mon 18th 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.

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16:06

GZ M1 Buy FIBCON

I’ve not traded today but have spotted a decent Micro-M1 FIBCON that formed just beofre 2pm when price moved up off the H1 Bear Channel and H1 EQZ@11261.5

In real-time it would have looked very tempting and after Friday’s bullish mood buy trades would have been preferred. 

What’s really worth noting is the Micro-Role-Reversal at the 61.8 level, that gave the setup great structure.

As always, it’s SO easy after the event but this is why we must hone and hone our pattern recognition skill so that we filter all but the best!

Thu 14th 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:

07:11

Key Area on Daily

Yesterday price was range bound mostly in the Golden Zone between 11125-11221, today will be interesting, this zone is key.

Wed 13th 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:

15:05

GZ M1 Sell FIBCON

I’ve just taken a look at the afternoons price actionto see this great sell FIBCON that formed when price moved up strongly to the top of the range.

Point C was perfectly confluent with the M5 EQZ@11204.2 and contextually price was coming back down into the range which why the M1 Buy MAB was another low probability.

 

11:15

Today’s Video

 

10:09

GZ M1 Sell MAB Winner, +1.81R

When price broke below Yes High I switched to sell mode as mentioned in the earlier post. After testing the H1 EQZ@11133.5 I marked up the sell setup as shown and waited to see what happened if price came back up to point C.

The Open+Yes Close+H1 Bull Channel+H1 Bear Channel were acting as possible Role-Reversal resistance so I entered the sell trade as shown once price struggled to get above the H1 Bull Channel.

I moved my target lower in case the energy of breaking through the 11133.5 level would lead to a significant move down but once price paused I closed out for a decent winner.

The setup ticked the boxes mentioned in the earlier post and worked out. The key bit of price action was the break below Yes High followed by the intersection of Grid structure at point C.

09:07

Low probability GZ M1+M5 Buy MAB

A Range day so far which means MABs and FIBCONs will be lower probability. After moving back up off the low at Yes High price tested the session High and reversed just below.

The M1 and M5 MABs shown were therefore low probability. I was ready to enter the M1 Sell MAB shown but price did not reach the MA and the 61.8 level, however, a decent setup as the Role-Reversal was good, look-left.

If price can break below the Grid structure between Yes High and the H1 EQZ@11133.5 then some decent sell setups might form?

08:31

Low probability GZ M1 Sell MAB

At 8am price sold off strongly down to Yes High and the D1 Bull Channel, both of which are major Grid levels.

The M1 sell MAB shown is a great example of a low probability setup due to the context. Over the last few days the bulls have in control so unless it’s a great sell setup the bias is for buy trades.

Sometimes these sell setups workout but we must always be asking:

  • “Can I see the A-B-C with excellent Role-Reversal?”
  • “Do I have great structure?”
  • “Do I have great context?”

When you can answer “Yes” to these then our edge is in play!