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….
At 8:20 a micro M1 Sell MAB formed that turned out to be great trade if you’d taken it and reasoned price might want to test the Open.
I marked it up and was positioning the Trade Tool when price spiked up to 12103.7 then fell away before I had chance to enter.
A sell limit order would be a good option in this case.
Micro setups are often very fast moving so you have to be ‘in the zone’ and ready!
Price reached the top of the M5 EQZ@12066.5 then moved back up very strongly to the 12100 level.