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 had two trades so far today, a -1R loser at 10am, and a +2R winner at 11am.
At 09:35 price broke up through the D1 EQZ (13463.29), which then became support. I entered a 1min MAB Buy trade at 10:01 with the view of price moving up to test the Open and H1 EQZ midline (13494.89).
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_M1_14jan2020_1001_16722051_buy.png
After the failed 1min MAB Buy trade, price moved back down through the D1 EQZ boundary and made a good impulsive bearish move with a retracement to the underside of the D1 EQZ as resistance. At 11:05 I entered a 5min MAB Sell trade, confluent with PM High and my Stop Loss set just above the D1 EQZ level.
https://blackboxsoftwaresolutions.com/wp-content/uploads/members/desktop-lr7eroa/ge30.sb_M1_14jan2020_1105_16722789_sell.png
Hi Joel,
I took the 11am sell trade as well, it was my last trade for the day and brought me in +1R profit as I mentioned in my email.
My trades before that were not great, I took a buy at 9:41 after the break above 13463, it was another micro buy setup – like yesterday – that I really liked. A generous stop meant I didn’t get 2R, it stopped just short (+1.87R) and I ended up with +0.57R when price hit my trailing stop.
The 11am sell setup was the best of the morning, well done taking that 🙂