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….
Had busy morning so here’s 5 trades in one entry. I had two losers to start May with, the first one was aggressive followed by the second one which had decent structure but did not work out.
I then switched to buy mode and ended up with a BE.
The fourth trade as another sell back below the H4 EQZ@10538, I went for more than the 2R – which did come in – only to end up with another BE. Should have settled for the 2R!!
I then spotted the first decent juicy salmon swimming by and got a +3.55R winner. I was able to find a good bear channel and was going for 6R at the PW Low, this was too aggressive but pleased with the winner.
Note how price reached the channel midline before reversing back up into what turned out to a range.