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….
12:40
Missed GZ M1 Sell MAB 🙁
I missed this Grade A M1 Sell MAB after price sold off from the session High. Due to the context it was one where moving the target for more than 2R would have made sense.
A great reminder of how Grade A setups form, we just don’t know when, we must “Be The Bear” 🙂
12:18
GZ M1 Buy FIBCON
First trade this week due to routine etc., this was the first decent A-B leg and I got a great entry after passing on the M1 MAB which was too high above the Golden Zone and Yes High to be good value.
My stop was probably a bit generous but the 2R target was below point B. I kept my stop tight and got taken out for +1.10R, I should have not micro-managed it.
Pleased with a winner of at least 1R but had I left it alone the 2R would have come in 13 minutes later.
After a tight range earlier in the session I’m pleased I waited for a clear A-B leg, marked up the setup and took a decent trade 🙂