Daily DAX

Tue 12th 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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12:46

Today’s Video

 

09:44

GZ M1 Sell MAB Winner, +0.29R

This trade was very similar to the earlier one only this time the 2R would have come in had I not moved my target. I trailed my stop just above the MAs and ended up with a small winner.

It had good structure and OK context as price had failed to hold above the H1 Bull Channel and the H1 EQZ@11133.5

My 2R target was ideal in that it was above point B and the earlier point B, should have left it alone but very happy with the setup.

08:43

GZ M1 Sell MAB Loser, -0.25R

When price broke back below the H1 Bull Channel and the H1 EQZ@11133.5 I took the M1 Micro Sell MAB at point C. It started well but was a short-term Counter-Trend setup so I reduced my risk straight away.

I moved my stop to just above the Grid structure for protection but the bulls took over so I ended up with a small loser.

Overall not a bad trade, structurally it was decent and I’ve seen these workout. Contextually it was a CT trade and was managed accordingly.

07:22

Bullish overnight session

A bullish overnight session has led to price moving up to the D1 EQZ@11104.0, the FIB tool shows a Golden Zone between 11124.7 – 11187.0?

Mon 11th 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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15:45

Good Struture – Poor Context M5 Sell MAB

The M5 sell MAB above is a great example of: Good Structure – Poor Context.

The short-term range that’s formed had the 11000 level close to its mid-point. This range made the sell at point C a low probability even though it had good confluence:

  • H1 Bear Channel.
  • The 110000 level.
  • 61.8 level@11001.4
  • M5 EQZ Mid-line@11000.4
  • M5 MA

The A-B leg is a clear impulsive move but the Lower-Low at point B was really a failed breakout of the bottom of the range. Sometimes these sell setups workout but the reason I passed was the range context.

A range like this does not offer high probability MABs and FIBCONs and I prefer to standaside and wait for more favourable price action.

14:22

GZ M1+M5 Sell MAB

I’ve just come back to my desk to see a decent Micro-MAB that formed when price broke back below the H1 Bear Channel and the 11000 level. The retrace back up to the 61.8 level was confluent with:

  • H1 EQZ@11006.2
  • M5 EQZ@11008.2
  • M1+M5 MA’s

Overall the price action so far has not offered any clear setups, this one was structually decent, not great context but it worked out.

10:02

GZ M1 Sell FIBCON

Price has continued to move up after the session low from Friday. There’s been no buy setups though I did mark up the above sell FIBCON  at the D1 Bull Mid-Channel@11020.0 but passed on it due to the context.

Price had retraced down below (point B) the H1 Bear Channel and the H1 EQZ@11006.2, then found support and continued up.

A key level in the short-term is Yes High……

Fri 8th 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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Wed 6th 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:

Fri 1st 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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11:00

GZ M5 Sell MAB

NFP today and I’ve not been trading but have just taken a look at the morning’s price action to see a great M5 Sell MAB.

These are the one’s to patiently wait for, both structurally and contextually excellent!

Tue 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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13:12

GZ M1 Buy MAB Loser, -1.00R

I ended up taking a buy Micro-MAB after the break above the Open and Yes Close. I reasoned price might target the in play D1 EQZ Mid-line@11251.0 but after starting well it didn’t work out.

Looking at the M15 chart Yes Close was also the top of a range and the break above was actually a failed breakout.

The lesson here is to have waited until price moved up more towards the 11251.0 level and then retraced, this would have reflected much more bullish energy in play rather than a low energy breakout that failed.

Mon 28th 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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13:39

Today’s Video

Today’s video below.

I’ve just noticed that price has continued to move lower offering a great M1 sell MAB that I’ll post above.

 

11:41

GZ M1 Sell FIBCON Winner, +2.00R

Really pleased with this one 🙂

After price broke back below the Open and the in play D1 EQZ Mid-line@11251.0 I marked up the ABC and decided to sell if price came back up to:

  • Yes Close
  • 61.8@11256.2
  • M5 EQZ@11257.2
  • Great Role-Reversal best seen on the M5 chart, see below.

There was about 20 minutes of chop-chop then the bull candle at 11:25 came right up to Yes Close so I sold. It felt good to see my patience rewarded by the bear candles that followed!!

I was tempted to move my target lower but decided not to, a good call.

Below is the M5 chart that had great short-term role-reversal and was a key component of the confluence.

10:24

GZ M1 Micro-Reversal Buy FIBCON

I’ll logged on around 9:45am today to see what’s been going on and spotted an interesting buy FIBCON off the session low. It had good structure and context but not easy to take in real-time?

The A-B leg was nice and clear after setting the Low and if you were in buy mode you might have taken it at the 50% level, if so a buy limit would have been the best option with the stop covering the 61.8% level.

As always, it’s easy comment like this after the event!

After the 8am open price did try to get above the D1 EQZ Mid-line@11251.0 but failed, it’s since moved back above……

Thu 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.

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14:07

GZ M1 Sell MAB – Grade A

I’ve just come back to my desk after a few hours away to see that price had continued up to Yes High but eventually broke back below the D1 EQZ@11104.0 AND the D1 Bull Channel.

This was MUST TAKE Grade A trade, it has great structure and great context.,

It’s very similar to the live sell trade I videoed on Tuesday.

09:28

Today’s Video

A short video, how neat if most mornings befroe 10am offered a +2R winner 🙂

 

08:48

GZ M1 Buy Winner, +2.39R

This buy trade was not an ABC pattern as such but the bull spike that closed above the H1 Bear Channel got my attention after a very choppy opening.

This was very fast moving but I reasoned that the strength of the bull spike had released some energy that would play out, most probably in more upside. 

The H1 Bear Channel has been clearly in play as seen on the M5 and M15 charts so I decided to enter on a pullback to the channel. It worked out and due to a gap that this time went in my favour resulted in a +2.39R.

I’m done for the day as I have travel to Scotland later for 10 days, I will be back trading on Monday so no trading tomorrow.

Wed 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.

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12:02

Today’s Video

No trades today and time for me to switch to other projects.

This video shows a superb ‘must take’ H1 Sell MAB that took place yesterday afternoon at 16:35 GMT.

 

 

11:09

Grid Structure on 15 Min Chart

After testing the lows at 11006.2 (the H1 EQZ) price moved back up, the M5 MAB sent it back down to form a decent reversal FIBCON at Yes Low.

08:55

GZ M1 Reversal FIBCON

After testing the lows at 11006.2 (the H1 EQZ) price moved back up, the M5 MAB sent it back down to form a decent reversal FIBCON at Yes Low.

07:23

Daily Chart

The daily chart above shows that price moved down into the Golden Zone mentioned in yesterday’s blog and so far has found support at the 11000 level, the top of the H1 EQZ@11006.2

Overnight it moved back up to test D1 EQZ@11104.0 before moving back down to the Golden Zone, we wait to see if it finds support again?

Tue 22nd 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:

12:13

Today’s Video

This shows the GZ Sell M1 Micro-MAB…. 

 

11:49

GZ M1 Sell MAB Sell Winner, +2.00R

I was just about to start the video and spotted this M1 Sell Micro-MAB setup so I ended up videoing it and it worked out 🙂

09:15

GZ M5 Buy MAB Sell Limit

After missing the earlier M5 Buy MAB I setup a Buy Limit order for the next one only for price to stop just short of it before moving back up!!

09:09

GZ M5 Buy MAB

After price reversed back down from the RESCON at 11104 etc. I talked myself out of the M5 Buy MAB as I was not sure about buying into the RESCON but the clue was the strength of the A-B impulsive leg just after 8am.

Should have taken it 🙁

07:54

GZ M5 Sell MAB pre 8am

An M5 Sell MAB formed at 7:40am but the spread was 2 pips so did not take as we want the spread to be 0.8 pips. The spread is reduced at 8am, pre December 2018 GKFX used to offer a 0.8 pip spread at 7am.

06:49

Daily Golden Zone

An interesting looking Golden Zone when point A is taken from the D1 EQZ@10808.1, when you look left to Oct/Nov 2018 the Role-Reversal zone suggests a support zone between 10985-11037….

The D1 EQZ Mid-line@10956.0 is also just below this zone.