Thu 4th July
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….
12:19
GZ M1 Sell FIBCON
It’s been a while due to other projects taking priority but this morning at 9am I noticed a great M1 Sell FIBCON. It ticked all the boxes:
- A clear A-B-C pattern.
- Great Role-Reversal.
I’m unable to trade at present due to other projects that will flow into next week.
Thu 30th May
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….
10:53
M1 Buy MAB
I had to stop trading at 09:30am and had not seen any salmon up to then, just minnows.
However, I’ve just taken a look to see that the first setup that resembled a salmon took place just after 10am. It was an M1 Buy MAB and it ticked enough boxes to be classed as a salmon – imho.
Not a juicy one but it was decent. The key part was the A-B leg breaking up through a keyzone of resistance which underwent a Role-Reversal to become the Golden Zone.
Had I been trading I would have taken this for 2R up to the top of the M1 micro-channel.
Wed 29th May
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….
09:10
GZ M1 Sell MAB losers, -0.38R
The early M1 Sell MAB was decent so I took it. I closed out when price reversed back up off the H1 Bear Channel, was a good call as it continued on up.
The context was good as price had broken below the H1 EQZ@11899 and point C was on the pullback-retest.
This one did not work out but I’d take it again.
Tue 28th May
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….
12:16
M1 Buy MAB
I passed on an M1 Buy MAB due to the context – a range.
However, everything else was OK, the A-B leg was clear and it had good Role-Reversal.
10:37
M1 Buy FIBCON, BE
I waited patiently for price to reach my entry point at the 61.8 level@12041 after passing on the M5 MAB.
It started well and I moved my stop to BE when price moved back below the H1 EQ@12027, soon after I was taken out for BE.
It had good structure with good Role-Reversal at the earlier LL, just did not work out. Price was coming up off the session low at the D1 EQZ@11987 but had moved up to offer enough value to take the sell trade.
08:57
Outer-Inner FIBCON
Just after 8am price failed to test the High and then sold off strongly to produce a sell FIBCON as shown.
I was close to selling at the 61.8 level@12084 but passed.
Note the Inner-FIBCON and how price moved back down to precisely its 61.8 level@12053
Mon 27th May
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….
15:26
GZ M1 Sell FIBCON
I’ve not traded since this morning but I’ve just taken a look at the afternoon session and spotted a decent M1 Sell FIBCON that formed around 14:50
It’s been a range day since the early move up to set the session high but this was a good setup after price failed to hold above Yes High – again.
The A-B leg was nice and clear.
Note the excellent Role-Reversal at the 61.8 level@12078.82, it was precisely where price reversed. If you’re ‘Being The Bear’ this was worth taking.
11:01
GZ M1 Sell MAB loser, -0.98
I took the next M1 sell MAB but did not work out.
Price was range bound and was coming up off the bottom of the range.
10:52
GZ M1 Sell MAB loser, -0.39
I took the M1 Sell MAB and moved my stop once price moved back below Yes High. I probably would have been stopped out for the full 1R but should have not micro-manged it.
A good setup, decent A-B-C…
Wed 22nd May
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….
12:40
Missed GZ M1 Sell MAB 🙁
I missed this Grade A M1 Sell MAB after price sold off from the session High. Due to the context it was one where moving the target for more than 2R would have made sense.
A great reminder of how Grade A setups form, we just don’t know when, we must “Be The Bear” 🙂
12:18
GZ M1 Buy FIBCON
First trade this week due to routine etc., this was the first decent A-B leg and I got a great entry after passing on the M1 MAB which was too high above the Golden Zone and Yes High to be good value.
My stop was probably a bit generous but the 2R target was below point B. I kept my stop tight and got taken out for +1.10R, I should have not micro-managed it.
Pleased with a winner of at least 1R but had I left it alone the 2R would have come in 13 minutes later.
After a tight range earlier in the session I’m pleased I waited for a clear A-B leg, marked up the setup and took a decent trade 🙂
Tue 21st May
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….
08:30
GZ M1 Sell Micro MAB
At 8:20 a micro M1 Sell MAB formed that turned out to be great trade if you’d taken it and reasoned price might want to test the Open.
I marked it up and was positioning the Trade Tool when price spiked up to 12103.7 then fell away before I had chance to enter.
A sell limit order would be a good option in this case.
Micro setups are often very fast moving so you have to be ‘in the zone’ and ready!
Price reached the top of the M5 EQZ@12066.5 then moved back up very strongly to the 12100 level.
Thu 9th May
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….
13:25
GZ M1 Sell MAB
Not trading this afternoon but just spotted this decent Micro M1 Sell MAB as price is making its way back down.
Point A is at the D1 Bull Channel Midline, point B is at the H1 Bear Channel Midline. The Grid in play!
12:23
Today’s Video
11:31
Grid Structure
The M15 chart above shows how Grid structure has contained price over the last 48 hours.
Late yesterday it failed to push above the area of RESCON marked up, also note how the H1 Bull Channel has contained price.
11:24
Still Micro-Range
Price did move down to Yes Low and moved up strongly off it. It is also confluent with H1 Bull Channel which added to the SUPCON.
I’ve marked up an M15 Sell MAB that I did not see in real-time that formed when price broke above the top of the micro-range around the 12100 level.
08:55
GZ M1 Sell MAB, Breakeven
I took the M1 sell MAB at the H1 EQZ Midline@12090.9 and ended up with a BE trade. Since then price has entered a micro range though the M5 sell MAB was clearly what traders were watching for.
A break below Yes Low is one to watch.
Wed 8th May
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….
15:10
Today’s Video
A bit late today as I had to pop out for a few hours.
10:45
Sell winner
I marked the correct A-B-C after the micro sell loser. I missed the best entry BUT decided to enter due to the context and bearish price action since setting the high.
I moved my target down and closed out for a +2.54R winner 🙂
Price has continued to sell off but I’m pleased with my discipline, the earlier micro sell was not great and taking the winner was a good call.
10:40
Micro Sell loser
I took the micro sell MAB but did not work out.
10:31
Topping Pattern
Price set the current session high just below the H1 Bear Channel, after that I was looking for sells.
I was close to taking the two shown above. The first one was a micro sell FIBCON and I was waiting for price to come up to the 12172.3 level but it stopped just short. Structurally is was decent with good context as part of a topping pattern.
The second one I was waiting for price to come up to the H1 EQZ@12145.6 but it stopped at the 50% level and M1+M5 MAB.
The fine margins of trading!
09:03
Great Micro Buy FIBCON
I was close taking the Buy setup after price broke above 12135.7 but passed as I was waiting for the M1 MAB.
Of course it went on be a great buy trade off Micro structure
08:57
Losing sell trade, chased price!
I broke my rules and chased price after anticipating price would reverse after the move up to the D1 EQZ Midline@12135.7, did not work out!!