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….
I was The Bear, I waited patiently and took the buy trade at the major D1 EQZ Mid-line at 12135.7
However, I ended up with a wide stop and closed out for +0.63R. Price came back down below the D1 and H1 Bull Channels, I closed out but had I not then I’d still be in the trade.
I would like to have ridden this up for multiple R but today that didn’t work out.
What’s important and key is that we anticipated the precise level that price reached before reversing, that’s the Power of the Grid in action 🙂
NFP soon so I’m not trading for now…..
NFP today so expect the markets to slow down late morning.
Keep an eye on the D1 EQZ Mid-line at 12135.7, if price sells off and reaches it then expect some action 🙂
Really well anticipated Mr. Phi!
I think we entered the trade at a very similar level (if not the same)! I checked the console and it says 12139.9
HiAlex,
I see you traded this one for +1.72R, well done!!
The key thing is how precisely price reversed off the D1 EQZ Mid-line at 12135.7, yet another example of the Power of the Grid 🙂