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….
After price made a new session high I reasoned it might want to test Yes High@12793 so I took the M1 Buy MAB. It initially looked good but when price failed to move above the top of the KeyZone I closed out.
I took a sell Micro-FIBCON after price reversed down from an area of RESCON (D1&H1 mid-lines). It had decent structure and context if price was going to struggle to go any higher but this one didn’t work out.
Point B was not the most convincing LL but overall I followed my process and limited my loss to 1R, on another day this could have been a great place to ride the reversal back down.
I missed the early M1 Buy MAB due to wanting the perfect entry at the Open and 12700 level 🙁
The 50% level was also confluent with the top of the KeyZone and that’s where price reversed.