Mon 20th Jan

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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.

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13:59

M1 Sell FIBCON, +2.00R

After the aggressive M1 Sell MAB I marked up this one and glad I did 🙂

The Role-Reversal was superb and I’d identified earlier on the M5/M15 chart – see below. 

I used a Sell Limit this time that worked well. The 61.8 level was perfectly confluent with:

  • Bottom of the intraday KeyZone.
  • Overnight Role-Reversal structure – see below.

Below is the M5 chart showing the supporting Role-Reversal structure.

13:52

M1 Sell Micro-MAB Loser, -1.00R

After waiting for price to reach the top of the H1 EQZ (Range) I sold the M1 MAB as shown. It was too early, however, I took the much better sell setup next….

11:49

M1 Buy MAB Break Even, +0.11R

Price has slowly come up off the bottom of the range and after passing on the My Buy MAB I took the M1 Buy Micro-MAB once price broke above the KeyZone level@13529

Another case where a Buy Limit would have been better as I didn’t get the best entry using the Trade Tool.

Should have walked away as it would have come in 🙁

08:39

M1 Reversal Buy FIBCON

I must start taking these Reversal FIBCONs off the lows…

After 8am price moved down to set the current low at the H1 EQZ midline@13494, I marked up the buy setup but passed 🙁

The M5/M15 charts supported the buy setup….

Fri 17th Jan

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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.

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09:36

M1  Sell FIBCON Winner, +0.68R

Should have played this better. I moved my target and failed to see the excellent Reversal FIBCON as price came up off the low above Yes High.

 

08:44

GZ M1 Buy MAB Winner, +2.61R

Really pleased with trade and got the bonus of a gap that went in my favour 🙂

The PW High was an obvious target once the bulls had taken over at 8am. I passed on earlier setup (at point A on second setup, no MAB in play)) at 8:12am then took the M1 MAB based on the PW Week being a high probability.

 

Thu 16th Jan

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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.

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Wed 15th Jan

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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.

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16:16

Today’s Video

 

07:29

M5 Sell FIBCON Loser, -1.24R

This was an early sell setup just after 7am. It had good structure and context with the key H1 EQZ@13430 in play.

It was looking good until the bulls were able to drive it back up.

Below is the pre 7am chart of the setup on the M5 chart.

Tue 14th Jan

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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.

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Mon 13th Jan

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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.

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13:37

M1 Buy MAB winner, +0.80R

This M1 Buy MAB was the best trade for me so far today. It was a micro-setup but one of those I spotted and really like after the HH above 13463 which had resulted in the M5 Sell loser.

I should have used a Buy Limit so my 2R was not above point B, that would have been a 2R winner.

I was late using the Trade Tool and only got a small winner when the setup was for a 2R for sure.

13:32

M5 Sell MAB loser, -1.10R

This M5 Sell MAB was a much better setup but didn’t work out.

The only negative was that price was coming back up off the lows. It started well but not this time.

13:26

Two losers, not valid trades!

Not pleased due to the indiscipline that took place resulting in 2 losers!!

I took the M1 Sell MAB – Terrible Context!!!

I then chased price out of revenge!!!

I’ll put this down to first day back rustiness but no excuse, I knew better!!

10:18

M1 Buy FIBCON Loser, -1.00R

When price moved back above the H1 Midline@13494 I was interested in a buy setup. I entered as shown but this one did not work out. The 61.8 level was decent support and it took over 11 minutes before the bears drove it down to take me out for a 1R loser.

In the context of price moving back the range I liked this one plus it was a buy trade which I’m favoring just now. However, price has been more choppy than rangy!

09:42

Choppy session so far…

First day back after the holidays. December was a write-off due to a bug I picked that last for 3 weeks which consisted a very painful migraine that meant I was also unable to sleep 🙁

I’ve a bias to buy trades but so far no salmon have swum by.

Tue 10th Dec

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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.

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12:28

M1 Sell MAB Loser, -1.16R

This sell setup was decent compared to my earlier trades but price was coming up off the PM Low. I’ve passed on these often enough only to see them come in but not this one.

11:55

3 Trades, Poor trading, -0.71R, -1.08R, +2.00R

The screenshot shows poor/over trading. I changed my mind about the M5 Sell MAB and entered late.

The Buy trade was aweful, I was trying to be smart and take a move back up to the H1 Midline@12984…….

I then switched back to bear mode and took the sell down the PW Low which worked out but not great trading at all!

11:34

Sell Winner, +1.34R

My first day back trading after a week of mild flu. I feel very rusty and failed to take the early sell FIBCON pre 8am and then talked myself out of the M1 Sell MAB!

I ended up taking an agressive sell once it became clear the bears were looking to target at least the PW Low.

It should have been a +2R……..

Mon 2nd Dec

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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:

19:42

Two losers, -1.35R , -1.76R

Not a good end to the day!!!

After failing to take advantage of the early bull move up which was followed by the huge sell-off I took a C.T. buy trade that didn’t work out then had a dose of FOMO and I chased price.

The result of that was a -1.76R loser..

Today was a day that could have been my best day to date but missing the early buy trades then missing the Double-top sell FIBCON meant I got caught up in the end of the move later in the afternoon.

 

15:32

M1 Sell Micro-MAB Setup

I talked myself out of this M1 sell Micro-MAB as price was testing the D1 EQZ midline@13020 after the exhaustive type spike at 3pm.

However, the bears are still in control and this one would have worked out!

13:09

Two small sell winners…+0.17R , +0.16R

Price did fail to hold above the PW High after forming a Double-Top, there was a very bearish piece of Price Action at the DT that I did not see in real-time but I’ve marked up the early sell opportunity.

When price broke below the Open I took an agressive sell and ended up closing out for a small winner but had I not touched it the 2R would have come in.

When the M1 Sell Micro-MAB formed I took it and trailed my stop due to the 13200 level holding firm. I got stopped out only for price to have gone on for the 2R – again 🙁

See the M5 chart below for the Double-Top – Note the interaction with the KeyZones.

10:28

GZ M1 Sell FIBCON Loser, -1.11R

After not taking any trades on the bull move up off the Open after 8am I was anticipating that price might struggle to hold above the PW High as this may well be the top of the current range on the daily chart.

The 61.8 level was perfectly confluent with the PW High.

The setup had alot going for it except it was sell trade in a bullish mood, this one didn’t work out.

Below are the two buy setups I failed to take, the first one – the M5 MAB – I over-thought, the second one at Yes High I was – once again – too fussy!

Being too fussy has become a clear pattern of behaviour in my trading as I’ve documented over the last few weeks.