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Price Action in Day Trading by Dadas

  • #321
  • Edited 3:39pm Apr 1, 2013 3:02pm | Edited 3:39pm
Quoting ejiexe
, when I check the 30min in realtime and not aftermath, I discovered there was no breakup, so I went to lowertime frame. 15min is usually my favorite for entry though. So I waited and waited until I see the breakup. The trend is bullish and what I was looking for is a breakup. In fact, the first thing for me is to look for a breakup if I want to long before I even identify the PTECZ. Once I see the breakup, I will identify the PTECZ and work out the retracement back to few pips away from PTECZ for entry while my stop loss will be below the recent...
Well, you are doing the right thing, if you are making Profit over Loss!

But, look closely on my chart.

What aftermath?

You are working with aftermath symptoms.
The M30 PTECZ was already there when you were looking.
Just find it and draw the Zone until the end of chart to the right, as long as you can.
And, by double clicking you can open the properties window and input date or just hour,
like 2013.04.02 00:00 and you will have the Zone until midnight, platform time.

Then switch to M15, as you like, and watch what the price is doing.
Breaking up out of the PTECZ and retracing back to it while closing higher than previous Low,
plus your earlier H4 Long diagnose - that is enough to go Long in this situation!

Plus, you could have, even estimated the Exit level:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxsalt-ltd.png Size: 61 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxsalt-ltd-2.png Size: 53 KB


Where do you get the symptoms from, if not from historical levels?

And, yes, you can use the M30 PTECZ!

You can start with H1 PTECZ an narrow it down to even M15 PTECZ.

The Bullish Trend started much earlier, it started 12, March and confirmed 13 & 14, March:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-fxsalt-ltd.png Size: 54 KB


Sorry, you got the one for Exit!
Just realized after rereading your post.

Anyway, others can study!
Trade the facts, not opinions.
  • #322
  • Apr 1, 2013 4:09pm Apr 1, 2013 4:09pm
Narrowing down the PTECZ

Let's say we start from D1, we find a PTECZ:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-d1-fxsalt-ltd-2.png Size: 40 KB


Switch to H4:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-fxsalt-ltd-3.png Size: 55 KB


Switch to H1:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h1-fxsalt-ltd-3.png Size: 55 KB


Switch to M30:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxsalt-ltd-3.png Size: 58 KB

Then watch the price!
If you have the PTECZ which shows the floor (in this case),
so the price does not Break down, but Breaks up, you can switch to M15:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m15-fxsalt-ltd.png Size: 71 KB


Or even M5:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m5-fxsalt-ltd.png Size: 50 KB


Or, even M1:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m1-fxsalt-ltd.png Size: 52 KB


How early do you want to Enter?

If you know your Global Positioning and your decision is Long?
Trade the facts, not opinions.
  • #323
  • Apr 2, 2013 12:43am Apr 2, 2013 12:43am
Start looking for PTECZ in as high a TF as you can the higher it is the more reliable it is and the more pips available.
Attached Image (click to enlarge)
Click to Enlarge Name: 2nd Apr 13 AUD:JPY W1 Chart.png Size: 115 KB
  • #324
  • Apr 2, 2013 1:19am Apr 2, 2013 1:19am
Hi Dadas,
Great development on this indicator.
Thank you!

4x4x

Quoting Dadas
I have created a new version of Multi_Zone_Candle.mq4. Now, also available as Multi_Zone_Candle_OHLC_Lines.mq4. There is a trick, example: 1. Show_MN_Rectangle true & Show_MN_OHLC_Lines false - will show only the Zone Candle. 2. Show_MN_Rectangle true & Show_MN_OHLC_Lines true - will show the Zone Candle and the OHLC Lines. 3. Changing the MN_Rectangle_shift while Show_MN_OHLC_Lines true - will show the new Zone Candle and the OHLC Lines. The previously drawn lines always stay on the chart once drawn. They are labelled, so you can know what they...
  • #325
  • Apr 2, 2013 7:57am Apr 2, 2013 7:57am
where is everybody
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 95 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #326
  • Apr 2, 2013 8:20am Apr 2, 2013 8:20am
Let see how far it will come down
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15new.png Size: 80 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #327
  • Apr 2, 2013 9:04am Apr 2, 2013 9:04am
Thank you Dadas. I don't know if i am following your way but this is the way I can see the market with your method.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym152.png Size: 63 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #328
  • Apr 2, 2013 10:02am Apr 2, 2013 10:02am
When a breakup occurs and a short trade is closed, what is the implication? That mean the bias has changed. I change with what price is telling us. I can only read/see this with the help of Dadas.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym153.png Size: 65 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #329
  • Apr 2, 2013 10:47am Apr 2, 2013 10:47am
Quoting ejiexe
where is everybody
You know, man don't live by Forex alone.
Sometimes other things must get done, too.

Quoting ejiexe
Thank you Dadas. I don't know if i am following your way but this is the way I can see the market with your method.
I am very happy to see people use my tools in their trading strategies.
This is what this thread is about.

But, I am also happy when people post their charts.
I can show my way, again.
I will do that as often as I can.
I welcome everybody to show their trades.
I will use them to show my method again and again.

Of course, if there will be too many examples, I might not be able to serve them all.
Trade the facts, not opinions.
  • #330
  • Edited 11:50am Apr 2, 2013 11:38am | Edited 11:50am
Quoting ejiexe
When a breakup occurs and a short trade is closed, what is the implication? That mean the bias has changed. I change with what price is telling us. I can only read/see this with the help of Dadas. {image}
GBPJPY - never looked at this pair before, so let's analise:

Starting with MN:
We can see a historical PTECZ which the price has recently bouced down of.
And, we can see the January Candle was Bearish and Breakdown.
No conclusions, other then this is an important potential trend reversal moment.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-mn1-fxsalt-ltd.png Size: 61 KB


W1:
We see how the price is moving from the MN upper PTECZ to another lower W1 PTECZ.
We do not see Bearish trend confirmation. We see that the price wanted up, but stopped at another W1 PTECZ.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-w1-fxsalt-ltd-2.png Size: 66 KB


D1:
Shows how the price acted inside the Resistance PTECZ, here we can see the Bearish movement.
We can see how the Bearish Candles Broke down.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-d1-fxsalt-ltd.png Size: 51 KB


H4:
Shows the Price Action even in more detail.
We can find the last H4 PTECZ.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h4-fxsalt-ltd.png Size: 70 KB


Now comes the important strategic moment.
If our strategy says "Go with trend, only!", then we wait for Short.
If our strategy says "Take any trend as long as Pip Potential is worth it!", then we can look for a Long.

H1:
We can recognize two TBCZ areas:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h1-fxsalt-ltd.png Size: 59 KB


Let's see how these areas could be used for entries on the M15.
These areas can be narrowed down to PTECZs on the M15:
And, the Short Entries are where shown.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m15-fxsalt-ltd-2.png Size: 56 KB


This is better seen on the M5:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m5-fxsalt-ltd.png Size: 75 KB


Since, the Pip Potential was ca. 45 Pips, Long was also possible, better seen on M5:
Plus, we could find lower PTECZ.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m5-fxsalt-ltd-2.png Size: 79 KB


But, of course, there are other, smaller trends, as you can see on the M5.

Theoretically, we could go from PTECZ to PTECZ in a scalping fashion.

Even on the M1. Anybody wants to try that?

Share your results, if you please.
Trade the facts, not opinions.
  • #331
  • Apr 2, 2013 12:08pm Apr 2, 2013 12:08pm
Oh, and yes, futher investing was also possible.
Both Long and Short:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m5-fxsalt-ltd-4.png Size: 81 KB
Trade the facts, not opinions.
  • #332
  • Apr 2, 2013 2:41pm Apr 2, 2013 2:41pm
A couple of hours in fresh air does wonders to the brain!

I have just invented another great method with the PTECZ and Zone Candle!
Let us study today's EURUSD situation:

Let us work with the M30 chart.
We first narrow down the PTECZs.
The Green bottom PTECZ from H1.
The Red top PTECZ from M30.
Custom_Zone_Candle_Tf = 30
Custom_Zone_Candle_Index = 25 (in real time trading = 1 and it will follow automatically)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m30-fxsalt-ltd.png Size: 68 KB


Now we let Custom_Zone_Candle follow.
At Candle_Index = 22 we get this:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m30-fxsalt-ltd-3.png Size: 67 KB


Now, the trick is that we have some important levels and we want to know if to close our Short or wait.
So, we need to Pause the Custom_Zone_Candle where it is to see Price Action inside this Candle.

Get the idea?
We can see and decide. Short is safe and you can set BE just in case.

So, I have introduced:
Pause_Custom_Zone_Candle if true the Zone Candle will Pause where it is.

By default Pause_Custom_Zone_Candle false so you can follow.

Remeber, always first create the Zone Candle you want if you are studying history with Candle_Index!
After that set Pause_Custom_Zone_Candle true!

New, updated Custom_Zone_Candle_with_Index.mq4 attached:
Attached File(s)
File Type: mq4 Custom_Zone_Candle_with_Index.mq4   10 KB | 598 downloads
File Type: ex4 Custom_Zone_Candle_with_Index.ex4   7 KB | 453 downloads
Trade the facts, not opinions.
  • #333
  • Apr 2, 2013 8:42pm Apr 2, 2013 8:42pm
Quoting Dadas
A couple of hours in fresh air does wonders to the brain! I have just invented another great method with the PTECZ and Zone Candle! Let us study today's EURUSD situation: Let us work with the M30 chart. We first narrow down the PTECZs. The Green bottom PTECZ from H1. The Red top PTECZ from M30. Custom_Zone_Candle_Tf = 30 Custom_Zone_Candle_Index = 25 (in real time trading = 1 and it will follow automatically) {image} Now we let Custom_Zone_Candle follow. At Candle_Index = 22 we get this: {image} Now, the trick is that we have some important levels...
I will read went brain settled. All information required attention when reading. I Just woke up and see if there is a breakup and we have it. So I look for entry and here is it. Let see how far this can go. I will update when i wake up.

This is not a trade call. I am just showing my learning progress in real time using Dadas PA in Day Trading. I belive in trading with the trend but when there is a setup i am looking for I can go against the trend for pips if it is available. Remember we have stop loss and TP in relation to our Money management.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15031.png Size: 74 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #334
  • Apr 3, 2013 2:09am Apr 3, 2013 2:09am
Quoting ejiexe
I am just showing my learning progress in real time using Dadas PA in Day Trading. I belive in trading with the trend but when there is a setup i am looking for I can go against the trend for pips if it is available. Remember we have stop loss and TP in relation to our Money management. {image}
Yes, that is why I say that we can or could.

Just that, this kind of trading requires a bit of experience
and it is not good for the novice or the pre-intermediate Trader.

With this new, upgraded way, as in post above, I can see that it is possible
to go both ways, up and down on instruments with very small spread, and it could be taken
to extremes with the M1 chart.

Like a game of Pip-Pong!
Trade the facts, not opinions.
  • #335
  • Apr 3, 2013 2:27am Apr 3, 2013 2:27am
Quoting ejiexe
I Just woke up and see if there is a breakup and we have it. So I look for entry and here is it. Let see how far this can go. I will update when i wake up. This is not a trade call. I am just showing my learning progress in real time using Dadas PA in Day Trading. I belive in trading with the trend but when there is a setup i am looking for I can go against the trend for pips if it is available. Remember we have stop loss and TP in relation to our Money management. {image}
You see, playing with retraces can be very dangerous.

The situation this morning on GBPJPY is quite simple and clear.
The General Trend is Bearish.
Two simple PTECZ, top and bottom, and the Short Entry become very clear.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m30-fxsalt-ltd.png Size: 41 KB


On thec M15 it is just the same:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m15-fxsalt-ltd.png Size: 44 KB


And M5 with M15 Custom_Zone_Candle_Index = 1 Paused:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m5-fxsalt-ltd.png Size: 42 KB
Trade the facts, not opinions.
  • #336
  • Edited 2:46am Apr 3, 2013 2:34am | Edited 2:46am
However, there is one important thing to notice about GBPJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h4-fxsalt-ltd.png Size: 71 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-m30-fxsalt-ltd.png Size: 61 KB
Trade the facts, not opinions.
  • #337
  • Apr 3, 2013 3:01am Apr 3, 2013 3:01am
Quoting Dadas
However, there is one important thing to notice about GBPJPY: {image} {image}
I got your point master. GJ is very bearish but GJ is a wild animal in term of retracement. You also adviced not to sell low so there is no way I will be looking for short at this low point.

However, GJ is still consolidating in global position. My stop loss is still intact from my earlier trade and also gave me opportunity to add to my long position. Yesterday low has not been broken yet. Though my stop was challenged and the challenge was not base on market sentiment. The stoploss look safe based on your advise about stop placement.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh11.png Size: 32 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #338
  • Apr 3, 2013 3:05am Apr 3, 2013 3:05am
GJ is moving up now. I am not going to do anything until i see a breakup. Once I see a breakup on 15min chart, I will look for the PTECZ that triggered the breakup. I may close part of my trade then and wait for retracement to add back the position.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #339
  • Apr 3, 2013 3:38am Apr 3, 2013 3:38am
Quoting ejiexe
I don't know anything. I am just copying Dadas words.
Well, I know what I see.
And I see, what I see on the charts.
And, what I see is the only thing I can know about the Price!

And, if I see this everywhere, repeating itself, why should I let it/them take my money?
Trade the facts, not opinions.
  • #340
  • Apr 3, 2013 3:49am Apr 3, 2013 3:49am
GU Trade
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm151.png Size: 68 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
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