Fri 29th Nov

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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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09:57

Another Reversal FIBCON Missed!!

This is a very similar buy setup at SUPCON to yesterday – see below. Always so clear after the event but I was expecting that price might reverse back up into the range and failed to take a decent buy setup which resulted in multiple R due to the context.

Below is the Reversal Buy FIBCON from yesterday morning, the key piece of structure to support the buy trade was that price was reversing back up off Yes Low.

For today the key piece of structure to support the buy trade was that price was reversing back up off a zone of SUPCON made up of the D1 & H1 EQZs.

These MUST be taken as they can offer multiple R due to the context!

Thu 28th Nov

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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 27th Nov

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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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16:46

Today’s Video

 

11:56

Top Of Range Sell Winner, +2.65R

Another range day between the Daily EQZ-Midline@13315 and the Hourly EQZ-Midline@13239 where price went all the way down after 8am then all the way back up. I was unable to find a setup that allowed me to take a trade until price moved all the way back up to Yes High.

I reasoned it was a high probability that price would stall and reverse so I entered at Yes High which was confluent with the D1 EQZ Midline@13315 and used a generous stop in case price wanted to spike through a little to the top of the KZ at 13321 which on this occasion it didn’t.

Based on the price action last week I moved my target down into the range and after 01:48 minutes I was closed out for a +2.65R winner.

I had to sit on my hands and trust structure whilst the M1+M5 buy MABs sent price back up. 13300 was the key level that had to break before the bears were able to send price down.

The M15 Buy MAB offered no support but the H1 Buy MAB was enough to stop price going any lower – for now.

Below is the M5 chart showing the price action at 8am with the Daily Golden Low-High zone overlaid.

Fri 22nd Nov

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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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20:45

Today’s Video

 

11:44

GZ M1 Sell FIBCON Loser, -1.17R

The break below the PW low offered a decent sell setup with good RR.

This one didn’t work out. The only thing going against this trade was that price had stopped just above the H1 midline@13111, I reasoned it might try to test it again, not this time.

09:29

GZ M1 Sell FIBCON Loser, -1.03R, Winner +5.87R

After passing a micro buy trade using the KZ’s on the bull move up I’d already identified the H1 Midline@13239 and a possible reversal zone. It Was !!

However, I first had a loser but after reaccessing the setup using the H1 time frame I entered again but did have to move my stop above the zone. The level I chose was based on the H1 chart and it worked out. I was prepared to risk just over 2R to be on this one if price went back down.

Once again the KZ’s guided price as it topped out then sold-off.

I reasoned that this might be one of those days where the DAX goes all the way then all the way down – It Was !!

I moved my target to just above Yes High to end up with my 2nd best trade so far. 🙂

See the H1 chart below to see why I liked the sell setup at 13329

07:37

GZ M1 Sell FIBCON Loser, -1.00R

I took the early sell setup which was OK but not the one in play!

See below for the sell setup that was inplay, always easy afterwards. My direction was correct, just picked the wrong setup. Point was just above Yes High at the top of a KZ once again!

My entry was at the top of a KZ and at the Open which was why I took the trade.

Thu 21st Nov

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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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08:58

GZ M1 Sell Loser, -0.88R

I wanted to see a break of Yes Low which eventually took place leading to an M1 MAB at Yes Low. The only thing going against it was that price was coming up off the bottom of the H1 EQZ@13048 but I reasoned it was worth taking as it had decent structure and RR.

On this occasion the bears weren’t able to target the 13000 level.

Wed 20th Nov

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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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17:46

Today’s Video

 

15:04

Major Battle Zone

This major battle zone has to be resolved and until it is it’s best to stand aside.

We must “Be The Bear” and see if a juicy swims by this afternoon…

The D1 and H1 EQZ’s are play with the Open and Yes Low….

10:43

GZ M5 Sell MAB Winner, +2.01R

After setting the low price moved back up to the H1 midline@13111 to offer an M5 sell MAB. This setup had great confluence:

  • The 13111 level.
  • 61.8 level.
  • M5 MAB
  • Great Role-Reversal which was fresh in my mind from the first trade.

I had a good entry with my stop well above the KZ which was important as price poked up through the GZ a few times. Eventually it moved down so I moved my target and trailed my stop just in case the bears were going to target the bottom of the H1 EQZ@13048, I got a 2R winner 🙂

The H1 chart – see earlier post – played a role in supporting the sell setup.

10:29

GZ M1 Sell MAB Winner, +2.60R

It’s been a bearish feeling after yesterday’s sell off from the highs so I was looking for sell setups. At 8am price moved down to just above the H1 Mid-line@13111.

I marked up the M1 Sell MAB with the GZ above it, when price failed to get back above the PW Low I took the sell trade a little later than ideal but having missed so many trades by waiting for the perfect setup I reasoned it was worth it.

I moved my target down based on the H1 chart – see below – and trailed my stop to end up with a decent winner 🙂

The H1 chart below shows that if price broke below the H1 Midline@13111 then it might move down into the lower half of the H1 EQZ. 

Tue 19th Nov

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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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19:17

Today’s Video

 

19:03

Best Ever Trade, +6.79R

See video for details.

18:56

Worst Ever Trade, -3.38R

See video for details.

09:31

GZ M1 Sell FIBCON Loser, -0.92R

Another range play and had good structure and I liked the RR, not a range day so it didn’t work out.

However, the bulls were intent on the PW High.

09:01

GZ M1 Sell MAB Loser, -1.00R

This early M1 Sell MAB didn’t work out. It was a range play and had good structure and I liked the RR.

However, the bulls were intent on Yes High.

07:10

GZ M5 Buy MAB

I missed this excellent early M5 Buy MAB!

Note how point A is at the bottom of a KeyZone.

Note how point B is at the bottom of a KeyZone.

Note how point C is at the top of a KeyZone.

This is how important these KZ’s are and is the reason why we overlay them, lock them into postion and project them into the future.

This is a perfect example of how a great setup – M5 Buy MAB – forms when price is  interacting with them.

Mon 18th Nov

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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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17:59

Today’s Video

 

16:36

M1 Buy MAB Winner, +2.36R

At last, a winner 🙂 🙂

When price broke clearly above Yes Low I marked up the GZ and took the buy trade. I ended up rushing it at Yes Low so did not get the best entry but it worked out.

I moved my target to the top of the KZ to get a little more profit. Price did continue on up but after the kind of day I’ve had I was pleased with a decent winner to end the day.

It was my best trade of the day. It was with the bullish momentum as price was moving back up the range. The setup and context was very good.

 

16:31

M5 Sell MAB Loser, -0.95R

Took a low probability M5 Sell MAB in the bottom 3rd of the range!!

Do NOT take sell trades in bottom 3rd of range !!!!!

15:39

Missed another winner…..

I’ve done it again!!!

By waiting for the perfect entry I missed a winner :(:(

14:38

Reversal FIBCON Loser, -0.58R

I came back from lunch to see that price had sold off to just above the PW Low and spotted a reversal FIBCON.

On Friday there were two of these that were winners but I was not on them, earlier there was one that would have been a winner but I was not on it 🙁

This one I took, it was decent and looked like it might be a winner until it ran into the US Open.

It had great C.T. context, I’d take it again……

12:09

Perfect Entry – Missed Trade:(

This a classic session of how if I don’t go for the perfect entry the trades a loser, if the I go for the perfect entry I miss a winner!!!

11:57

M5 MAB Sell Loser, -1.03R

I used a sell limit at the Open. It had good confluence – RR – – and the M5 MAB.

However, it’s looking like price was coming up off the BOR and it was a sell in the bottom 3rd!!

That was the only thing going against the setup. On another day maybe the bears would have been targeting Yes Low – the full range?

Below is the M15 chart showing the range.

11:54

Better Golden Zone

The higher value GZ.

10:16

Missed Reversal FIBCON

I took a break and came back to see this Reversal FIBCON!!

After Friday this was one I might well have taken as the Open – like Friday – is in play right now.

Note that the GZ is right at the bottom of the KZ – like Friday!!

09:47

GZ M1 Sell Loser, -1.00R

I also liked this M1 Sell MAB on the retrace back up to the Open. It was close to the session Low but the RR at the Open was very good and the it was confluent with the GZ and the bottom of the KeyZone.

 

09:11

GZ M1 Sell Loser, -0.97R

I liked this setup it had good structure and I entered at the 50% level and the M1 MAB. I reasoned price might try and test the Open, which it did later on 🙂

I just got stopped out before a move back down then soon after – BAM – a huge spike up to test Yes High then all the way back down that’s the DAX for you!

Fri 15th Nov

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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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Thu 14th Nov

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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:

13:24

Today’s Video

 

17:02

GZ M5 Buy MAB Loser, -0.93R

I returned to my desk to see price making its way back up the range off the 13167 level. I found a GZ by taking point A from the H1 EQZ@13175. The confluence was:

  • Bottom of KZ
  • 61.8 Level
  • M1+M5 MABs
  • Good RR, looks great on M15/M30 charts

I entered with the Trade Tool and it started well. Quite a battle followed which told me this was a major zone until eventually the bears won.

I reasoned that price would take another run at the 13200 level and maybe try higher, not this time.

12:13

GZ M1 Sell MAB, wanted price to move higher

After failing to hold above the 13210 level price sold off to produce a micro A-B leg with the GZ as shown. I wanted price to reach the 61.8 level@13204ish but the M1 MAB was enough to send price back down.

10:21

GZ M15 Sell MAB, Sell Limit triggered, Loser -0.88R

I setup a Sell Limit and left my desk. It was designed to catch the M15 MAB but that was enough to send price back down before it moved up strongly to trigger the zone and take me out straight away.

The setup was good – see M5 chart below – but I think if the M15 MAB had not been in the way this sell limit might have triggered and worked out on the first test of the zone.

The H1 chart shows why price turned around when it did, another sell zone above the one I used.

M5 chart below showing A-B-C pattern used. It was a decent setup, you can see where the M15 MAB sent price down. That was the setup and as mentioned above, had it not been in the way it might have worked out.

08:43

GZ M1 Sell MAB Winner, +2.13R

This was one of those “Must Take” setups that formed after 8am. It ticked all the boxes and is a great example of how we trade a classic A-B-C pattern.

I could not talk myself out of this one and after yesterday where I talked myself out of an M1 Sell MAB winner at the lows I took the trade.

Price has since formed a Double-Bottom and is moving back up.

Below are two screenshots, one of the trade live, the other of the Sell Limit setup in anticipation….