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….
A clear Head & Shoulders Topping Pattern took place at the PW High not long after 8am.
I passed on it. There was a Micro-A-B-C but the M1 Buy MAB plus Yes Low put me off.
I’ve also passed on the micro-sell setups that followed as I didn’t want to sell into the 11400 level but they would have worked out.
Morning Phi. Here’s a screenshot of some of the mark-up I did this morning. We got the same channel, and also picked out the same 1min MAB pattern after the SUPCON at D1 Bull.
(https://blackboxsoftwaresolutions.com/wp-content/uploads/2018/12/dax30sb_M1_04dec2018_1153_xxxxxxxx_xxx.gif)
Hi Joel,
the M1 Sell MAB worked out but the SUPCON put me off.
As I mentioned yesterday, I’m watching more than trading just now, it’s proving a good call as the market is choppy and rangey thus no decent setups.
We’re going to enjoy a wee walk this afternoon, due to Elaine’s cold bug she’s not been outside for over a week so we’re going to enjoy a sunny but cold day before it gets very wet and windy tomorrow onwards.
To focus the pattern recognition skill I’m programming myself with:
“Can I see the A-B-C with Excellent Role-Reversal?”
I close my eyes and vividly imagine a great setup forming when saying this to myself, I finding it very effective!