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….
14:23
Reversal Buy FIBCON
After price broke down through the H1 EQZ@11772 it went on the test the D1 EQZ@11693 to produce a second really good reversal M1 Buy Micro-FIBCON. The comments about the earlier one apply to this one, Great:
- Structure
- Confluence, Role-Reversal
- Context
14:07
M1 Sell MAB
After coming all the way back down price broke below the bottom of the range@11772 to form a decent M1 Sell Micro-MAB that I might have taken had I been watching at the time.
Point B was barely a LL but the bears had taken control so the context was reasonable.
14:02
No trades taken, ranging market.
No trades taken this morning, however I was very close to taking the reversal buy FIBCON that formed when price tested the H1 EQZ@11772 and found support.
It had decent context as it was bottom of a range at the time plus it also had great structure and great role-reversal. Whilst I was debating entering the trade the massive bull spike beat me to it 🙁
Yes High was the top of the range and that’s what the bulls targeted.