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 breakeven day but should have been profitable had I not broke my rules.
So, as is said in the video I posted below, you have to DECIDE to do something if you want to move on in your life so:
I’ve DECIDED to stop breaking my rules!!
Came back to my desk to see price selling off again and got caught up in things.
My read was correct in terms of a sell setup but got it wrong due to rushing things and ended up breaking my entry rules.
I used a sell stop to catch the break of the H1 EQZ@11133.5 but failed to spot the M15 MAB in play.
I didn’t trade yesterday due to a poor nights sleep that left me very sluggish and I found the price action difficult to read as the PM Low was tested.
It’s become clear that my current challenge is a mental one, I know my edge, I believe in my edge and have observed the Price Action Grid day after day capturing 90% of all the key battle zones, both micro and macro.
Whilst getting on with stuff that didn’t require the concentration that trading does I did a bit of research on mind-set and the importance and power of beliefs. It’s a vast area and there’s no shortage of information out there so we each have to find that which vibes with us personally.
I’ll leave it at that for now but below is a 10 minute video that stood out, so much so I’ll put the link below. Some of the ideas in it might not be everyone’s cup of tea but if they are you will enjoy it!!
When price struggled to get above the RESCON@11670 I sold the move back down to the H1 EQZ@11133.5 and with the 2R just above it it worked out perfectly.
Below are two buy MAB’s, the M1 MAB just after 7am, the M5 MAB just after 8am.
I missed the M1 but passed on the M5, shame it was with short term bullish mood and structurally good.
