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….
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.
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.