Daily DAX

Mon 14th 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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06:45

GZ M1 Buy FIBCON

The 13169 level and the D1 Channel midlines have supported price for the last few sessions, the PW High@13317 is going to be a key level, look-left!

Note that twice last week and on the 21st July the EQZ 50% level@13317 reversed price.

If the bulls are strong enough then maybe 13465 will be a target?

If not then we might be going back down to test 13169?

 

Thu 10th 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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06:56

Strong Bull Day Yesterday

Note how once again the EQZ@12873 and the intersection of the bull and bear channels provided the support and energy create a very strong bull candle!

We were in buy mode until price reached 13169 and the intersection of the bull and bear channel midlines. We then watched to see what happened. There were NO structural breaks that caused us to switch to sell mode. 

When price moved on up through 13169 we remained in buy mode.

Also note that the high was EXACTLY at the EQZ 50% Midline@13317. This is the level of precision that our daily structure has evolved to, we must now learn to use it effectively in our daily trading.

It can provide major clues to bull/bear bias, targets, reversal zones, etc.

Wed 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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21:00

Four more trades, +2.232R Overall

I took a few more trades, should have taken the 2R reach time instead of going for more. That policy did not work for me today.

11:31

Five Sells, BE Overall

I sold off the 13095 level as it was also supported by the M15 Channel midlines.

My second sell was the best value but I did not take the 2R as I went for more profit so ended up with +0.69R. 

So far the bulls have held the 13086 level, time to wait for a clear release of energy.

If the bulls reach Yes High and the 13169 level then we could see some setups?

09:19

New Daily Chart format

I’ve been optimizing the Daily chart that’s part of my Higher TF profile. Above is what it now looks like. I want to display both horizontal and channel structure, this is what I’ve come up with.

Note how price is contained within the daily channels AND the EQZ level (12873-13169-13465).

Over the last week, it’s helped me to form a bull/bear bias.

Fri 28th 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.

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12:53

GZ M1 Sell FIBCON Winner, +0.45R

After the earlier trade, I was waiting for a Buy REVFIB back up off Yes low. That didn’t happen but when price reached the Open I sold again, almost identical to the earlier winner.

I trailed my stop and got taken out after the M5 MAB sent price back up.

11:19

GZ M15 Sell MAB Winner, +2.00R

Really pleased with this one 🙂

Not just because it was a winner but because I marked it up well in advance and was The Bear! To assist me I used a Sell Limit.

I decided to settle for the 2R at the PW High but of course, it’s since carried on down 🙂 

The confluence in play was:

  • M15 MAB
  • 61.8 Level@13095 of Intraday GZ
  • Great RR at 13095
  • The Open
  • M15 Bear Channel Midline

Since my return, this was the juicy salmon I was waiting for all week. 

 

Thu 27th 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.

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13:42

Excellent Buy REVFIB off Low

After a choppy start at 8 am I worked on other stuff as for the next few days, it’s the Jackson Hole Symposium in the US where the PTB are expected to decide key policy details. Traders often wait to see what happens before committing.

However, I’ve just taken a look at the PA to see that a great Buy REVFIB formed after the current Low was set. It had the textbook low probability M1 Sell MAB but no M5 sell MAB this time.

It had great structure and context.

06:55

Will price test the PM High?

A bullish day yesterday has set the stage for a test of the PM High maybe?

The PM High at 13317 is the 50% midline of the EQZ, if tested expect some action. Maybe a sell REVFIB and/or maybe push on up to 13465?

Wed 26th 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.

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10:53

Getting back into the routine

Not a lot going on today, the closest I came to taking a trade was the Buy M1 MAB at 09:50 but ended up being too fussy!

I’d marked up a sell REVFIB off the High but never got the PB required.

It was a decent setup, boy do I feel rusty after several weeks off trading!!

Mon 24th 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.

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07:18

Mid-Range on Daily Chart

We are in a range after the move back up towards the pre-COVID highs. We are tuning in to things after a few weeks holiday, range rules, and REVFIBs will be the focus.

Mon 10th 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.

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10:35

Price still in daily range

So far today price has been in the same range as last week after last Monday’s bull move up.

We arrived home late last night and will be settling back into Newcastle life today so no plans to trade.

Fri 7th 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.

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08:18

Price at 12577 EQZ Level

Since Monday price has been in a range as shown by the Doji type candles, we are therefore in range mode.

Thu 6th 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:

09:09

M1 Sell Winner, +2.01R

When price failed to hold above Yes High I waited for a sell REVFIB but it never came. However, when I looked at the KZ on the H1 chart (same as yesterday) I sold the break back below the EQZ 50% midline@12725 as the PA was so bearish.

This was not an A-B-C setup but more an instinctive one based on the H1 chart as shown below.  

08:54

M1 Buy MAB Loser, -0.27R

I took the M1 Buy MAB on the PB to Yes High but closed out when price struggled to move back above Yes High for -0.27R.

I was trading a DT but not this time 🙂

 

08:27

Price at EQZ 50% level 12725

Yesterday produced a doji and stayed above 12577, today’s the bulls remain in control.