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….
This is great example of a low probability M1 Buy MAB due to the context. It had decent structure but the context was poor due to the range bound nature of the session so far.
This was a failed break-out of the range.
A tough range bound session offering no decent setups and the M1 sell MAB marked up is an example of a low quality M1 MAB.
This type of price action we must learn to indentify and leave well alone! What can help is to have on display great setups to remind you of what “Juicy Salmon” look like.
Time to switch to other projects for now……
Price has not offered any setups as it’s been range bound so far…..
A move down to and break below 11350 might offer some sell setups but the bullish mood is still dominant.
An impulsive move that makes new highs might offer sell setups….
I forgot to post this on Friday, a great example of a pre London Open setup that was worth taking. I was not at my desk but spotted it as soon as I looked at the charts just before 8am.
What makes this trade compelling is the excellent Role-Reversal – Look-Left.