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….
Note how once again the EQZ@12873 and the intersection of the bull and bear channels provided the support and energy create a very strong bull candle!
We were in buy mode until price reached 13169 and the intersection of the bull and bear channel midlines. We then watched to see what happened. There were NO structural breaks that caused us to switch to sell mode.
When price moved on up through 13169 we remained in buy mode.
Also note that the high was EXACTLY at the EQZ 50% Midline@13317. This is the level of precision that our daily structure has evolved to, we must now learn to use it effectively in our daily trading.
It can provide major clues to bull/bear bias, targets, reversal zones, etc.