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….
17:23
Today’s Results, -0.49R
Use of the custom sell limit order would have resulted in a profitable day!!
11:53
GZ M5 Sell MAB loser+winner, -0.69R, +1.20R
I waited patiently for the pullback to the GZ for the M5 Sell MAB@11167.0
I should have used the custom sell limit to filter a spike, it would have resulted in a 2R winner on the move back down.
I re-entered as price spiked down so my 2R was lower than intended resulting in a +1.20R winner.
10:43
Sell Limit Option???
I’d marked up the sell zone at the 61.8 level@11184 then had to leave my desk.
Of course, price then spiked up and fell away for what would have been a quick 2R winner!!
A great example of when to consider a Sell Limit..
10:02
Sell@RESCON loser, -1.00R
Was too early on this as it was still structurally a BUY as the Golden Zone shows.
I had the zone marked up from earlier – look left – it was actually a Buy!!
07:55
Early GZ M1 Sell Micro-MAB
Early breakfast for those alert and in the moment…
Tough to execute but structurally excellent.