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:
- Follow your trading plan.
- Practice visualization techniques.
- Review and journal your trades at the end of each session.
- And above all else Be The Bear….
Before I leave the office take a look at the Daily Chart above. It shows why price sold off very strongly back down to the Open when it moved up at 08:47 to test Yes High and the Daily EQZ Mid-line at 12135.7
Look-Left to see the Role-Reversal structure from June-August. This is why the Grid is SO powerful and this is why we must use two MT4 installs to constantly show this higher timeframe context at a glance.
I’m just about to leave for another trip away. I’ve just taken a look at the 8am action and cannot resist commenting on the buy setup that the Grid identified at 8am.
The bullish momentum from yesterday has so far continued into this morning. Between 7-8am price made a Higher-High just above the PM Low, at 8am price pulled back to the Daily Bull Channel, note the up and down arrows for its Role-Reversal structure.
The M15 Chart below shows the same Grid structure, note the Daily Bull Channels Role-Reversal structure.
