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….
Just noticed a Micro-FIBCON on the way back up to Yes High.
Note points A and C are confluent with the bottom of the KeyZones.
NOTE: I’m watching the charts but not trading due to other projects I need to concentrate on today.
After the sell-off from Yes High down to the 13303 level a decent Reversal Buy FIBCON formed.
Once again note how points A, B & C are confluent with either the top or bottom of the intraday KeyZones.
They may not be pip perfect – at times they are – but you can see how price uses them.
We need to become experts at doing the same and overlaying our A-B-C trading edge!
I’d marked up this sell setup then allowd myself to get distracted 🙁
The GZ was confluent with the top of the KeyZone@13344 which has been in play recently as seen on the M5 and M15 charts.
It had decent context:
- Micro Double-Top at Yes High
- GZ confluent with top of active KeyZone.
It’s one of those trades that suggested multiple R was possible due to the context.
Note how Points A, B & C are ALL confluent with the top of the intraday KeyZones!!
The more I study these zones the more powerful they’re becoming in our trading plan.
After 8am price moved down to test the H1 EQZ@13303 which is also the top of an H4 Keyzone. I passed on the M1 Sell MAB due to the context as the D1 EQZ Midline@13315 was also in play as possible support.