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….
The break below the PW low offered a decent sell setup with good RR.
This one didn’t work out. The only thing going against this trade was that price had stopped just above the H1 midline@13111, I reasoned it might try to test it again, not this time.
After passing a micro buy trade using the KZ’s on the bull move up I’d already identified the H1 Midline@13239 and a possible reversal zone. It Was !!
However, I first had a loser but after reaccessing the setup using the H1 time frame I entered again but did have to move my stop above the zone. The level I chose was based on the H1 chart and it worked out. I was prepared to risk just over 2R to be on this one if price went back down.
Once again the KZ’s guided price as it topped out then sold-off.
I reasoned that this might be one of those days where the DAX goes all the way then all the way down – It Was !!
I moved my target to just above Yes High to end up with my 2nd best trade so far. 🙂
See the H1 chart below to see why I liked the sell setup at 13329
I took the early sell setup which was OK but not the one in play!
See below for the sell setup that was inplay, always easy afterwards. My direction was correct, just picked the wrong setup. Point was just above Yes High at the top of a KZ once again!
My entry was at the top of a KZ and at the Open which was why I took the trade.
