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.