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Price Action in Day Trading by Dadas

  • #441
  • Apr 5, 2013 3:08am Apr 5, 2013 3:08am
Quoting georgez
Hi, Ejiexe, This is what I zoned in eur/jpy 1hour chart, the PA looks actioning in down that yellow box, so be careful. IMO (in my opinion). {image}
Very correct. that is the CSCZ on 1hr.

But when switch to details chart. m15 for instance, we already have PTECZ aggressively. I think trend change usually happen on lower time before it is obvious on htf. So with that CSCZ that you marked, I have already see aggressive PTECZ. It could still be wrong though. This is the way I see it.

I am also a newbies trying to learning Master teaching. Master is around to guide us anyway.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #442
  • Apr 5, 2013 3:11am Apr 5, 2013 3:11am
Quoting lilies
Hello Dadas I'm still learning from your many posts. May I know where I can find the little soldiers you like to use - the Daily Range indicator you have on your chart.
Well, I wrote the Daily_Range_Stats.mq4 myself.
Please, find attached.

Quoting lilies
I got lost after many new indicators were developed like the Multizone with OHLC - will have to re-read those.
To sum up:
Custom_Zone_Candle_with_Index.mq4
Multi_Zone_Candle_OHLC_Lines.mq4

Just these two will work great, alone or combined.

Quoting lilies
Anyway, when I installed that on my IBfx platform, the charts froze.
This sometimes happens on older computers.

Before you put some indicators on the chart, especially those, like mine, that must calculate historical data,
you must make sure you have the data downloaded to your computer.
So, before you put the indicator on your chart, switch through all Timeframes:
(M1, M5, M15, M30, H1, H4, D1, W1, MN) so that your platform can update the data.

If it happens that charts freeze, you must close MT4 and reopen.

Quoting lilies
As you live in Poland, do you start trading when London opens?
Poland local time is just like all European Union, except GB.
I start when I wake up and start my computer.
Sometimes I wish I were more the early bird than the night owl!

Quoting lilies
Wonderful teaching! Thanks!
Thank You very much!
Attached File(s)
File Type: mq4 Daily_Range_Stats.mq4   16 KB | 554 downloads
File Type: ex4 Daily_Range_Stats.ex4   19 KB | 375 downloads
Trade the facts, not opinions.
  • #443
  • Apr 5, 2013 3:21am Apr 5, 2013 3:21am
UJ is one of the pair that follow the effect of NFP

Today is NFP.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym150401.png Size: 70 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #444
  • Apr 5, 2013 3:24am Apr 5, 2013 3:24am
Quoting georgez
Hi, Dadas, greetings! Here is gold practise, please take a look. Also, as I practise on demo account, one of the problems I am facing is that how to set up SL and TP. The SL often times set it too close and TP is either too close or too far away. So, now I am more practise on these issues.
I see you have got the PTECZ correct.

Other then that, I can not see much.

If you are novice, GOLD is not a good place to practise!

If you want to practise on GOLD - H4 and H1 not lower!

I do not know what spread you are working with?
There is no information on your chart, just the picture!
You can not have tight SLs on GOLD, GOLD is wild and moves in big waves.
Trade the facts, not opinions.
  • #445
  • Apr 5, 2013 3:29am Apr 5, 2013 3:29am
You are right, when I checked the M30 TF, I did see that PA was moving up. More often I look at 1 hour chart, now maybe I need to watch out lower TF action as well.

thanks! take care.
  • #446
  • Apr 5, 2013 3:30am Apr 5, 2013 3:30am
Quoting georgez
Hi, Ejiexe, This is what I zoned in eur/jpy 1hour chart, the PA looks actioning in down that yellow box, so be careful. IMO (in my opinion). {image}

There is a zone you marked which has to be challeged anyway.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpyh10502.png Size: 76 KB
Click to Enlarge Name: eurjpym150502.png Size: 86 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #447
  • Apr 5, 2013 3:34am Apr 5, 2013 3:34am
Quoting ejiexe
I was stopout at breakeven on GJ yesterday and made about 70pips loss or so on EJ yesterday trying to stop a moving train.
You were not following Price Action, PTECZ and the facts from the chart.

Trying to stop a running fast train is suicide!

I repeat - We can not fight the Market!

Got a billion bucks or two? Then you can try to "Mega-Scalp" the newbies!

Also, do not jump into the moving train.

Board the train at stations!
Trade the facts, not opinions.
  • #448
  • Apr 5, 2013 3:35am Apr 5, 2013 3:35am
Hi Dadas,

I would like to thank you for the learnings on this thread. I'm beginning to be more confident in my entries and my winnings has improved on scalping
  • #449
  • Edited 3:47am Apr 5, 2013 3:35am | Edited 3:47am
Hi Dada's,

Thanks for your replies.

(My precedent post was probably too abrut and unfortunatly i cant post attach files when i am at work.)

PA seems to me clearer now than 7 days ago, much thanks for that.

I am trying demo since this morning and for my first trade with PA i am on the right side on Euro (+10 pips right now - )

Edit: SP +20 pips (RR 1/2).
Bottomless wonders spring from simple rules, which are repeated without end
  • #450
  • Apr 5, 2013 3:36am Apr 5, 2013 3:36am
Quoting randolf
Would you use this indicator should be changed in the settings؟ thanks for sharing information .
I do not understand your question?

Please, make clear!
Trade the facts, not opinions.
  • #451
  • Apr 5, 2013 3:37am Apr 5, 2013 3:37am
Quoting Dadas
You were not following Price Action, PTECZ and the facts from the chart. Trying to stop a running fast train is suicide! I repeat - We can not fight the Market! Got a billion bucks or two? Then you can try to "Mega-Scalp" the newbies! Also, do not jump into the moving train. Board the train at stations!
Well said Master. Noted. I will be acting accordingly.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #452
  • Apr 5, 2013 3:41am Apr 5, 2013 3:41am
Quoting ejiexe
Very correct. that is the CSCZ on 1hr. But when switch to details chart. m15 for instance, we already have PTECZ aggressively. I think trend change usually happen on lower time before it is obvious on htf. So with that CSCZ that you marked, I have already see aggressive PTECZ. It could still be wrong though. This is the way I see it. I am also a newbies trying to learning Master teaching. Master is around to guide us anyway.
This post shows your are still fighting against, figuring out, predicting, trying...
Instead, just follow my steps from examples.

Yes, the shift of trend is often seen on lower Tfs first,
but you can not know if it is really a shift, until you see it on higher Tfs.

For JPY pairs, I recommend H4, sometimes H1.
Trade the facts, not opinions.
  • #453
  • Apr 5, 2013 3:42am Apr 5, 2013 3:42am
Hi, Dadas,

my last reply was for ejiexe, I forgot to use "quote".

For your question: I use FXCM, so their gold spread is 50, very wild. But I don't trade gold, just for practise purposes. I used gold chart, just chosed one I saw clear, and also I did practise on other currencies as well. Regarding SL and TP, that question was in general setting, not just for gold, sorry I did not mention it clear.

Now I am more practise on eur/jpy, gbp/jpy, and others.

Cheers,
  • #454
  • Apr 5, 2013 3:45am Apr 5, 2013 3:45am
Quoting georgez
You are right, when I checked the M30 TF, I did see that PA was moving up. More often I look at 1 hour chart, now maybe I need to watch out lower TF action as well. thanks! take care.
Be flexible, check both, H1 and M30!

It depends on how fast the Price is moving.

Sometimes M30 is allright, sometimes you see smth on H1 and H4.

It is best to shift Tfs from time to time, to see the whole picture!
Trade the facts, not opinions.
  • #455
  • Apr 5, 2013 3:58am Apr 5, 2013 3:58am
Quoting Dadas
Be flexible, check both, H1 and M30! It depends on how fast the Price is moving. Sometimes M30 is allright, sometimes you see smth on H1 and H4. It is best to shift Tfs from time to time, to see the whole picture!
That is right. Be flexible is the key in PA since it is the market tells us to do what is supposed to do. when comes to an entry, for me, I normally use H1 to decide the possible position, whether buy or sell.
  • #456
  • Apr 5, 2013 4:05am Apr 5, 2013 4:05am
Remember my GOLD Short Entry, the one I said I would wait 2-3 days?

Well, I closed it yesterday,
I will explain why:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h1-fxsalt-ltd-2.png Size: 64 KB


Theoretically, all the symptoms are for Short.
The large scale shows that there is nothing to stop the price from falling until the Zone.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-w1-fxsalt-ltd.png Size: 61 KB


Thus, the potential is still there:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h4-fxsalt-ltd.png Size: 67 KB


However, yesterday, due to the Market Regulations by some national Banks, I suppose,
GOLD challanged my BE, so I concluded it is better to take the Proft now, then to BE at 0.

I had opend the second Short earlier, before the jump, but did not close when it was in Profit.
So, I risk, but PA on the larger scale still tells me Short.
Trade the facts, not opinions.
  • #457
  • Apr 5, 2013 4:05am Apr 5, 2013 4:05am
Quoting ejiexe
There is a zone you marked which has to be challeged anyway. {image} {image}
Thanks for the help! Yes, I did see that, it is important to check out lower TF as well, just Dadas' word: be flexible.

Now I am seeing that the hour chart, the PA is still fighting in the blue box.

cheers.
  • #458
  • Apr 5, 2013 4:09am Apr 5, 2013 4:09am
Wow that was a very quick reply.

You must be one of the most generous trader in this forum, not only sharing your skill but also your personal indicators.

Many of us here are on our way to BIG pips thanks to you. slowly but surely

The good Lord bless you abundantly!
  • #459
  • Apr 5, 2013 4:20am Apr 5, 2013 4:20am
EURUSD
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m30-fxsalt-ltd.png Size: 66 KB

The refference is D1 (1440) Zone_Candle_Index = 1.
We have the answer why the Price stopped here.
It is the area of the W1 and MN Candle Body Middle Lines.
These are often very important S/R levels.

If price Breaks Up and confirms, we will be going up.
Today is Friday, so I doubt it is the day, but who knows?

Oh, the PTECZ is H1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-fxsalt-ltd.png Size: 66 KB
Trade the facts, not opinions.
  • #460
  • Apr 5, 2013 4:36am Apr 5, 2013 4:36am
EURJPY
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fxsalt-ltd.png Size: 62 KB

The refference is W1 (10080) Zone_Candle_Index = 1.
Price reacted at W1 Candle Body Middle Line.
Price reacted at W1 Resistance Zone.
Price Broke Out W1 Resistance Zone.
PTECZ ended the Bullish Trend for now.

M30 PTECZ shows DT Pip potential and direction for those, who were there.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m5-fxsalt-ltd.png Size: 59 KB
Trade the facts, not opinions.
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