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….
12:21
M1+M5 Sell MAB Loser, -0.23R
When price came down of the highs I took the sell M1+M5 MAB, once again this setup had great structure and confluence BUT the context was it was coming up off the bottom of a short-term range.
I should have locked in 1R instead of trailing my stop. However, on another day it might have broken through the BOR for multiple R.
11:48
M1 Buy MAB Winner, +1.90R
After the bull spike I waited for the M1 Buy MAB which took a while but eventually resulted in a +1.90R winner 🙂
Point A was taken from the earlier session high, it was perfect confluence with the M1 MA as can be seen.
11:09
Sell FIBCON Loser, -1.20R
I took the sell M5 MAB but it didn’t work out. It had good structure and confluence BUT poor context!
Price was coming up off the D1 EQZ Midline@12135.7 which was the bottom of a range.
10:46
Sell FIBCON Winner, +3.47R
Whne price came down off the session High I marked up a KZ and took the sell.
On this occasion it poked up through but I allowed myself to move the stop to just above protective micro structure. It proved a good call as I would have been taken out!
Even though it increased my risk it was one of those tweaks to the stop that structure justified.
08:47
Just missed M1 Buy MAB
Price went on to form a Micro-Buy M1 MAB that I was wanting to be perfect but not this time. The M1 MA produced the MAB above the Golden Zone so missed taking taking this one.
It would have been a 2R winner.
08:39
Sell Loser
The sell FIBCON after the 8am open did not work out. Decent structure and context, would probably take it again.
Note the M5 Sell MAB just after 7am, it was the same sell zone, another reason why I took the loser.