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Price Action in Day Trading by Dadas

  • #341
  • Apr 3, 2013 3:55am Apr 3, 2013 3:55am
GJ update.

Closed all GJ and reloaded. So we can decided not too waste pips if we like.

Could this be true? I am really exploiting Dadas ways of seeing PA.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15032.png Size: 86 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #342
  • Apr 3, 2013 4:03am Apr 3, 2013 4:03am
The Zone Candle
I hope that by now, everybody who has been following,
can see the actual Potential of the Zone Candle with Index and Pause.

1. It can be used as the Larger Tf Background for refference,
2. It can be used as the smaller Tf Background for refference,
3. It can be used as the TBCZ Indicator,
4. It can be used as the PTECZ Indicator.

I have shown a number of ways for you to use these ideas.

You are welcome to think and create your own combinations.

Please, share your ideas with everybody!
Trade the facts, not opinions.
  • #343
  • Apr 3, 2013 4:05am Apr 3, 2013 4:05am
I am in Long on EURUSD.

Could have entered earlier, but was posting and looking at other pairs:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5-fxsalt-ltd.png Size: 71 KB


As you can see, the Price is reacting to PTECZ levels as if enchanted!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5-fxsalt-ltd-2.png Size: 71 KB
Trade the facts, not opinions.
  • #344
  • Apr 3, 2013 4:12am Apr 3, 2013 4:12am
GJ update
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15034.png Size: 87 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #345
  • Apr 3, 2013 4:17am Apr 3, 2013 4:17am
Quoting Dadas
I am in Long on EURUSD. Could have entered earlier, but was posting and looking at other pairs: {image} As you can see, the Price is reacting to PTECZ levels as if enchanted! {image}

Nice entry and setup. If I had played it i should have got the same entry as yours or i miss by 2pips.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15031.png Size: 69 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #346
  • Apr 3, 2013 4:22am Apr 3, 2013 4:22am
Looks like there could be Big Pips here:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-h4-fxsalt-ltd-2.png Size: 63 KB
Trade the facts, not opinions.
  • #347
  • Apr 3, 2013 4:33am Apr 3, 2013 4:33am
Quoting ejiexe
Nice entry and setup. If I had played it i should have got the same entry as yours or i miss by 2pips. {image}
My logic for EURUSD today was based on:
1. D1 Candles: day-before-yesterday and yesterday,
where the refference background is the D1 day-before-yesterday!
2. H4, H1, M30 confirmation on that refference background.
3. Daily Range indications.

Thus, I knew the Support Zone of the D1 refference background is the best Long Entry Zone.

I was a bit late for that!

Of course, just a little above is still good enough!
Trade the facts, not opinions.
  • #348
  • Apr 3, 2013 4:55am Apr 3, 2013 4:55am
Today, I have optimised on the new way with Custom_Zone_Candle_with_Index.mq4:

The clue word is "flexibility".

So, I have turned it around for Day Trading.

If I like to Enter from the M5 chart, that is where I start,
just the plain chart with my little helpers:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m5-fxsalt-ltd.png Size: 64 KB


Now, I want to see the important levels, so I look upwards (M30, H1, H4, D1, W1, MN),
I look for previous Candle setting the important HL levels
in relation to where the price is now.
In this case I find the Candle on H4, so I plot the Custom_Zone_Candle_Tf = 240,
Custom_Zone_Candle_Index = 2, and Pause_Custom_Zone_Candle = true:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-fxsalt-ltd.png Size: 61 KB


Then, I switch chart Tf back down and look for confirmation signals in the Support Zone.

Now, I can switch back to M5 and make entry decisions considerring Daily Range:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m5-fxsalt-ltd-2.png Size: 65 KB


I can, now, either help myself with extra PTECZ, or I can just watch out for PTECZ!

And, this seems to be the best way, so far!
Trade the facts, not opinions.
  • #349
  • Apr 3, 2013 4:57am Apr 3, 2013 4:57am
GO Dadas GO !!!

subscribed

p.s.
Pozdrowienia z Trójmiasta
RevarK
  • #350
  • Apr 3, 2013 5:12am Apr 3, 2013 5:12am
Now, there is a M30 PTECZ, so I Closed at 20 Pips Profit and will see what next.
Generally, DR is still low and the NY session is yet to come:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5-fxsalt-ltd.png Size: 72 KB
Trade the facts, not opinions.
  • #351
  • Edited 5:31am Apr 3, 2013 5:15am | Edited 5:31am
Quoting RevarK
GO Dadas GO !!! subscribed p.s. Pozdrowienia z Trójmiasta
Thanks buddy!

I was born in Gdańsk, lived most of my life in Gdynia and Gdańsk.
Since 2006 moved south, to the mountains.

Translation:
Pozdrowienia z Trójmiasta = Greeting from the Tri-City

The Tri-City, as we call it, is Gdańsk -Sopot - Gdynia
at the Baltic Sea, in the North of Poland.
Trade the facts, not opinions.
  • #352
  • Edited 5:37am Apr 3, 2013 5:23am | Edited 5:37am
Quoting Dadas
In this case I find the Candle on H4, so I plot the Custom_Zone_Candle_Tf = 240, Custom_Zone_Candle_Index = 2, and Pause_Custom_Zone_Candle = true
Hi Dada's,

Still reading your thread with attention.

- That means you are looking for short? Cause the H4 candle (index - 2) you choose is red, so its not a PTECZ candle?

- The next H4 candle is green (index -1) and have almost the same body = PTECZ candle for long ?

- the 2 H4 candles (index -2 and index -1) form a indecision zone? looks like the one start on 15 mars.
Bottomless wonders spring from simple rules, which are repeated without end
  • #353
  • Apr 3, 2013 5:37am Apr 3, 2013 5:37am
Now, I do not want to be preaching, but just maybe we should be careful,
because the Fat Guys might be wanting to take our SLs just at the NY session?
Trade the facts, not opinions.
  • #354
  • Apr 3, 2013 5:51am Apr 3, 2013 5:51am
Quoting limprobable
That means you are looking for short? Cause the H4 candle (index - 2) you choose is red, so its not a PTECZ candle? - The next H4 candle is green (index -1) and have almost the same body = PTECZ candle for long ? - the 2 H4 candles (index -2 and index -1) form a indecision zone? looks like the one start on 15 mars.
Looks like you got lost, confused a bit, maybe.

No, I am not looking for Short.

I am looking for the most important refference Candle.

Since I see the Consolidation or indecision, I have now
the refference background where the Support is.

Price Action inside the Support Zone shows me Long for that part of Day.

H4 Zone Candle shows me that recently in history Price went up fron this level:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-fxsalt-ltd-2.png Size: 59 KB


If you are looking for Short on GBPUSD, you have to look on MN Candle:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-mn1-fxsalt-ltd.png Size: 61 KB


And then relate accordingly:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxsalt-ltd.png Size: 63 KB


Still, shows Long for Day Trading.

If you are trading longer terms, maybe you want to wait for Short?
That is your choice.

PS.
I was talking about Entering Long in Support Zone, not at the top!!!

Now, is where the PTECZ comes useful, to see where the price is going next!
Trade the facts, not opinions.
  • #355
  • Apr 3, 2013 6:00am Apr 3, 2013 6:00am
Plus, in refference to important H4 levels, the Price has Broken Up,
and the conclusions are Yours to make:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m30-fxsalt-ltd-2.png Size: 55 KB
Trade the facts, not opinions.
  • #356
  • Apr 3, 2013 6:12am Apr 3, 2013 6:12am
Like I said before, price is reacting to PTECZ, like enchanted:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m5-fxsalt-ltd-2.png Size: 74 KB
Trade the facts, not opinions.
  • #357
  • Apr 3, 2013 6:32am Apr 3, 2013 6:32am
+31
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 27 KB
Persian Gulf forever
  • #358
  • Apr 3, 2013 7:08am Apr 3, 2013 7:08am
Quoting Dadas
Looks like you got lost, confused a bit, maybe. I am looking for the most important refference Candle.
thank you for explanation and your patience.

Yes, that confused me is that you choose a red candle in a down trend. If you had choose the green candle just next (this candle have exactly the same body), this one could be a PETCZ. Its seems too me more logic, for a long.

But probably what is confused me a lot is english

(i am french and my grand parents are polac from Gdansk
Bottomless wonders spring from simple rules, which are repeated without end
  • #359
  • Apr 3, 2013 7:17am Apr 3, 2013 7:17am
Quoting parsfx
+31 {image}
parsfx

I do not mean to abuse you in any way, but I want to comment on what I see on your chart.

Yes, this is some kind of PA trading, but I see that, maybe, you do not understand Price Action
in the way I present in this thread.

In your chart, there are 4 trades shown.

You deleted the arrows.
You forgot to delete the lines.

Those 3 trades are terrible!

The 4th trade is OK, but you opened somewhere and closed somewhere.

Please, read this thread carefully, it will help you trade better.
Trade the facts, not opinions.
  • #360
  • Apr 3, 2013 7:24am Apr 3, 2013 7:24am
Quoting limprobable
Yes, that confused me is that you choose a red candle in a down trend. If you had choose the green candle just next (this candle have exactly the same body), this one could be a PETCZ. Its seems too me more logic, for a long. But probably what is confused me a lot is english (i am french and my grand parents are polac from Gdansk
Yes, you are right.
I could have chosen the PTECZ.

I chose the TBCZ, because it was Trend Begining.

I chose the TBCZ, because it was the last red Candle, so it made the Low for Bears.

PS.
I have a distant relative in France.
He is or was some important person in AT&T.
Trade the facts, not opinions.
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