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 a sell trade back down into the range after price failed to break above the Open and KeyZone. It ticked enough of the boxes for me and I’ve seen these setups work out and would have looked to get more than 2R if correct.
The market is challenging right and even though we only trade purely technical setups the geo-political environment is being driven by events in the gulf that can affect traders decisions to commit, this can result in range bound markets.
I passed on the M5 buy MAB – point B – due to price possibly coming back down into the range. On this occasion it would have worked out!
The key thing is to be consistent and follow our trading plan and control risk!
Below is the M5 chart showing the range.
