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….
After price found support at the BOR (see M15 chart below) it moved up strongly to the top of a KeyZone marked up on M15 chart. As it was not the TOR I entered a buy trade on the pullback anticipating that price would then move on up to the TOR at the Open plus the 12409 level.
The trade lasted 18:30 minutes and tested my stop a few times before moving up but then failed to go any higher and came back down to take me out. Ranges are tough to trade but I liked this setup and have seen similar ones work out but not this one.
Chosing the best point A was between two points but either one would still have resulted in a loser.
Below is the M15 chart showing the range and KeyZones in play.
