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….
I’ve videoed todays trades as follows:
00:00-07:18 Live Buy Trade off SUPCON
07:19-11:35 Commentary on earlier trades.
11:36-14:12 Anticipating sell MAB trade.
14:13-16:45 Live sell trade.
16:46-18:12 Trade analysis
I’ve passed on two good sell setups but did take this GZ M1 Sell Micro-MAB. I liked the structure and context but got a bit greedy pushing for multiple R, ended up with +0.99R.
Very pleased with the trade, once again I’d anticipated it well in advance, should have done better than 1R though.
Price eventually made its way down to the D1 EQZ at 11987.7 and the H4 KeyZone at 11986.0 where I was sat waiting….
I ended up buying at the level but covered the H1 Bear Channel below resulting in a larger stop than I’d like. I got +2.30R which was great but I missed the GZ M15 MAB sell at the H1 EQZ level at 12027.3!!
Very pleased with this trade as it was anticipated from early this morning 🙂
When price failed to break below the BRN of 12000 where I was waiting to buy at the zone of SUPCON at 11987.7 I marked up the M15 Sell MAB at the PW/Yes Low.
I sat waiting for just over 30 mins before a late breakfast was served 🙂 Very pleased with the setup though we can never be sure if price will spike up before reversing, this makes setting the stop loss a challenge at times.
I made sure my stop was well the PW/Yes Low and was able to get a decent 2R target.
Note the perfect Measured-Move off point B at 11997.8 up to the 12050 level, I’d marked this on before price reached it, another reason why I loved the setup.
I took the first setup after 8am which was a sell M1 MAB.
The 61.8 level was just below the PW/Yes Low, not bad plus I was able to set my stop above the M5 EQZ mid-line at 12058.6 and the 2R target above point B.
This one did not work out, I reasoned that if price was going lower this is where it might offer a chance to enter the move down.
Yay! I came back from Warwick today and found a nice 5R day for you today!
What a great day! Well done! Perfect timing on your trades and a loser that you would trade again! Great job!
Thanks!!
I enjoyed today, every trade I ‘d take again, I focussed on the process…..