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 took the aggressive M1 sell MAB after the micro-PB to 11985. It started will until the bull candle at 11:37.
Positives are:
- Was not a FOMO trade.
- Did not increase risk, 1R losers are OK and are easily dealt with by the traders equation.
Took an aggressive buy on the PB to 12022, it was not FOMO.
It was with the bullish trend and I reasoned 12059 was in range so my 2R was possible.
Did not work out.
Today is the US election so lots of drama awaits the markets!!
I took switched to buy mode after the micro DB at 11846 just after 8 am. I had looked to enter on the PB to 11874 on the way up but price stopped short.
I then took the PB to 11911 and decided to use a wide stop to cover the possibility of a deeper PB. This setup was therefore a 2r or 4R depending on entry and stop placement, I went for the 2R based on the bulls targeting 11985.
They did and it worked out 🙂
I then took the sell REVFIB as it had good structure and context, even though the bulls are currently in control. I reduced my risk after it went on my favour, that was a good call this time as the bulls stepped in and moved price back above 11985.
I took the M5 Buy MAB at 11763 and closed out once it started to struggle as we’d already had a DT and the 11800 level tested.
After a brief break of 11745 I too the aggressive sell that had great micro-strucutre but was against the bullish mood.