Mon 29th Jun

by

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:

10:54

Feeling Philly-Sophical…

I’ve taken a break after the losers.

I should have taken the REVFIB and/or the following M1 MAB sell. I was waiting for the perfect PB to 12133 but it reversed back down just below it.

I then misread the PA after the move down to the Open, it was strong supportive energy in play and I was trading into it by selling. All crystal clear afterward.

Lot’s to learn, “Do NOT trade on your birthday :)”

10:12

Two More Sell Losers

Should have stopped after the two losers!

Got caught in in sell mode and the last one was emotional, I felt the FOMO and still took it, I’m done for the day.

 

09:40

Two Sell Losers

I’m SO not in the zone today so maybe I’ll go enjoy my birthday??

I took two sell trades after the PB off the Open. They had decent structure but I guess the Open was as far as the bulls would allow it to go.

Missing the Sell REVFIB off the High was a clue to maybe I’m not in the zone today?

07:43

GZ on H1 Chart

I’ve marked up a GZ on the H1 chart as shown. The 61.8 level@12202 is confluent with the midline@12207 and has decent RR when you look left.

It might offer a sell setup but if price is intent on moving up to 12281 then maybe not??

06:52

REVFIB That Failed

This REVFIB had good structure and context but failed. It’s pre 7 am so the spread is 5 pips and not one we’d trade.

It would have failed, however, note how precise the micro DB is when price moved down to the EQZ@11985

11985 is key just now…

06:11

Back in Daily GZ

Price is currently in the GZ from last week when it tested the 61.8 level@11985 and moved up strongly.

It has just (5:55 am)  formed a micro-DB on the M1 precisely on the 11985 level and bounced up off it to Yes Low.

 

2 thoughts on “Mon 29th Jun”

Leave a comment