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….
The M1 sell MAB was aggressive but it was taken at the key level of 12799.
The Buy REVFIB also at 12799 did not work out.
Just after 7 am there was a decent M5+M15 Sell MAB just above the Open and below Yes High plus it was the 12900 level that I missed. After the break below 12873 I really liked the PB for the M1 sell MAB so I acted:
“Without reservation or hesitation on our edge” (Mark Douglas)
It was a must take trade!
Yesterday the bulls drove price up from the 12577 to 12873, will see follow-through today?
Also note how price has moved up from the bottom the Daily bull channel to the top – see arrows.
It also worked the same bull channel in late July – see arrows.