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 just taken a look a the price action since the earlier trade, a reminder of why we don’t trade during High Impact news annoucements.
After passing on the earlier M1 Sell Micro-MAB at Yes High I anticipated the sell FIBCON at the next retrace to Yes High as shown. It went on to become an M5 Sell MAB whilst I was in the trade.
I did consider going for more profit but closed out for +2.49R, price has since continued on down but pleased with the trade.
Below is the M15 chart showing a KeyZone that was used to support entering and managing the trade. This is a great example of how we use all the timeframes to trade.
I just missed taking this fast moving M1 Sell Micro-MAB on the retrace back up to Yes High.
It was cracker, I was again too fussy and wanted price to reach the 61.8 level@12400….
This a great example of how you need the Trade Tool to trade these fast moving intraday setups.