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….
19:12
Today’s Results, -2.21R
I’m going to have get better at trading range days…
18:23
Three sells, two losers, one winner
I took three sell trades but due to the range only the last one worked out and due to my greed I only got +0.79R as I moved my target below the 11300 level going for the big hit!!
12:37
Missed MABs
I had to stop trading at 10am and have just returned to my desk to see two really good sell MABs.
An M1 and M5, both were structurally and contexually excellent.
08:46
GZ M1 Sell MAB small winner, +0.21R
My generous stop meant the 2R was below the 11325 level so I trailed my stop so it was protected by the M1 MA.
It got close and with hindsight of course I should have closed out below the Open. The reason I didn’t is that reasoned if the 11325 level broke price would move down sharply so I moved my target anticipating this.
It of course therefore did not happen 🙂
08:03
GZ M1 Buy MAB loser, -1.34R
At 7:30 price spiked up strongly to the H1 Bear Channel, I marked up the A-B-C to find the Golden Zone was perfectly at Yes High.
I entered a buy trade at the M1 MAB, it was a decent setup but one of those mad price spikes and not a valid A-B impulsive leg as shown by the way price came ALL the way back down.
It was structually very good with Yes High in play but one of those that didn’t work out.