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….
18:45
Today’s Results, -3.02R
I ended up in sell mode when the better setups were buys and with order flow.
The only winner was a buy trade then I had to stop trading for the day.
18:25
A setup worth waiting for….
This sell setup at 17:10 was a cracker and a reminder of what a great setup looks like. I was not trading when this took place but it was a MUST take trade!
With skill this was at least a 3R winner down to point B, the Role-Reversal structure was excellent.
18:17
Three quick trades…..
I got into a mode where I was taking sell trades when the best one’s were buys.
These three cancelled each other out but selling into the D1 Bear Channel proved to be bad call.
The buy winner worked out (only just) because it was with order-flow.
13:06
Missed M15 Buy MAB@D1 Bear Channel
I’ve just come back to my desk to see the M15 Buy MAB.
It was decent since it was confluent with the D1 Bear Channel that’s been supporting price plus the M5 EQZ mid-line@11317.9, the move back up to 11325 was the probability.
12:22
GZ M1 sell Micro-MAB loser, -1.01R
This was structurally good but contexually poor!!
It started off well but I should not have considered this one due to the 11325 level/zone being such a battle ground.
As my 2R was above the D1 Bear Channel this time I talked myself into it. Maybe 50% of these will work out but on the back of two losers it feels like a very poor trade.
11:24
Two sell losers, -0.71R, -1.18R
I took two sell trades when price broke back below the key level at 11325ish….
So far the D1 Bear Channel has held resulting in two losers.
The bottom of the M15 KeyZone is at 11300, that is where my 2R was intended.
Note the 11354 level and how precisely the bull spike reversed at it. Trading the M15 channels has lots of potential, but not so far today when the D1 Bear Channel is in the way of a move down.
I wasn’t trading yesterday, but I had the charts up and was in and out of the room. When you sent the alert out at around 12:20 I marked up a couple of opportunities using a keyzone I’d drawn up a bit earlier.
I think your sell trades around this time had the right idea, just weren’t in the right place!
(https://blackboxsoftwaresolutions.com/mon-26-nov-2018/)