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….
12:24
Today’s Video
10:11
C2 Sell Entry Loser, -0.99R
I tweaked point A to produce a lower GZ and when price moved back up it was looking like a “Double Sell Golden Zone Multiple ‘R’ Setup” so I entered as shown.
It did not work put but from a setup POV it ticked enough boxes for me as it was a value entry and we only need to be right 50% of the time. The only negative was it was sell trade in a bull higher time frame trend.
The M1 Buy Micro-MAB that followed I did not see in real-time but it was decent structure and was with the bull trend!
09:56
Too Fussy!
I wanted price to reach further into the GZ but it proved too fussy as the H1 EQZ@12920 and the PW High were enough to send price back down.
09:12
M1 Buy MAB Setup
The 8am open was very choppy until price eventually broke above the PW High. When price retraced to form an M1 Buy MAB I passed due to the price action, it had that feel of an exhaustive bull spike, this proved a good call.