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 few more trades, should have taken the 2R reach time instead of going for more. That policy did not work for me today.
I sold off the 13095 level as it was also supported by the M15 Channel midlines.
My second sell was the best value but I did not take the 2R as I went for more profit so ended up with +0.69R.
So far the bulls have held the 13086 level, time to wait for a clear release of energy.
If the bulls reach Yes High and the 13169 level then we could see some setups?
I’ve been optimizing the Daily chart that’s part of my Higher TF profile. Above is what it now looks like. I want to display both horizontal and channel structure, this is what I’ve come up with.
Note how price is contained within the daily channels AND the EQZ level (12873-13169-13465).
Over the last week, it’s helped me to form a bull/bear bias.