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….
Just taken a look to see what’s been going on and spotted an M1 Buy MAB after price found support at the D1 EQZ@12283.7.
Point B was not a stand-out Higher-High but it had good context coming up off support. There was also good Role-Reversal in play.
Retrospective analysis is easy to do but when you’re not trading it can be useful as it helps to develop the pattern recognition skill required.
First day back at my desk after an extended trip to Israel.
A tricky M5 MAB took place as shown above. the 61.8 level was confluent with the Open and entering with a very tight stop at the level might have resulted in being stopped as price wanted to briefly push through the M5 MA before the bears were able to drive price back down.
It was structurally a decent A-B-C with point A being the high of the 8am candle.
The D1 EQZ@12283.7 is a key level.