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….
17:59
Today’s Video
16:36
M1 Buy MAB Winner, +2.36R
At last, a winner 🙂 🙂
When price broke clearly above Yes Low I marked up the GZ and took the buy trade. I ended up rushing it at Yes Low so did not get the best entry but it worked out.
I moved my target to the top of the KZ to get a little more profit. Price did continue on up but after the kind of day I’ve had I was pleased with a decent winner to end the day.
It was my best trade of the day. It was with the bullish momentum as price was moving back up the range. The setup and context was very good.
16:31
M5 Sell MAB Loser, -0.95R
Took a low probability M5 Sell MAB in the bottom 3rd of the range!!
Do NOT take sell trades in bottom 3rd of range !!!!!
15:39
Missed another winner…..
I’ve done it again!!!
By waiting for the perfect entry I missed a winner :(:(
14:38
Reversal FIBCON Loser, -0.58R
I came back from lunch to see that price had sold off to just above the PW Low and spotted a reversal FIBCON.
On Friday there were two of these that were winners but I was not on them, earlier there was one that would have been a winner but I was not on it 🙁
This one I took, it was decent and looked like it might be a winner until it ran into the US Open.
It had great C.T. context, I’d take it again……
12:09
Perfect Entry – Missed Trade:(
This a classic session of how if I don’t go for the perfect entry the trades a loser, if the I go for the perfect entry I miss a winner!!!
11:57
M5 MAB Sell Loser, -1.03R
I used a sell limit at the Open. It had good confluence – RR – – and the M5 MAB.
However, it’s looking like price was coming up off the BOR and it was a sell in the bottom 3rd!!
That was the only thing going against the setup. On another day maybe the bears would have been targeting Yes Low – the full range?
Below is the M15 chart showing the range.
11:54
Better Golden Zone
The higher value GZ.
10:16
Missed Reversal FIBCON
I took a break and came back to see this Reversal FIBCON!!
After Friday this was one I might well have taken as the Open – like Friday – is in play right now.
Note that the GZ is right at the bottom of the KZ – like Friday!!
09:47
GZ M1 Sell Loser, -1.00R
I also liked this M1 Sell MAB on the retrace back up to the Open. It was close to the session Low but the RR at the Open was very good and the it was confluent with the GZ and the bottom of the KeyZone.
09:11
GZ M1 Sell Loser, -0.97R
I liked this setup it had good structure and I entered at the 50% level and the M1 MAB. I reasoned price might try and test the Open, which it did later on 🙂
I just got stopped out before a move back down then soon after – BAM – a huge spike up to test Yes High then all the way back down that’s the DAX for you!