Price Action in Day Trading by Dadas

ejiexe, looks like you hit a big one today!

You Made PIPS

Edit: I mean you are the owner of the PIPS

I did'nt take this trade. As we can see that it is working well.

It challenged my sl by 2pips

I am forced to say this:

PTECZ Rulez!

May the PTECZ be with You!

I need help Dadas

I would you have handle this?

I believe PTECZ also allow us to take much out of the pips

You tell me?

All Time High - this is a question?!

All we can do is watch.

PTECZ knows the answer.

Thanks. I got it.

ejiexe, isn't today your best day, ever?


Looks like this train ain't stoppin' yet.

It's ca. 140 Pips already, isn't it?

Yes. Courtesy of Dadas.

We can't go broke banking pips. So I close EJ for about 220 pips because I increase my TP when I saw that momentum.

I am not done on this yet. I have lock 100pips so free ride trade.
We don't have any PTECZ yet. Master told me that I should let the PA tell me what she want to do.

I am just trying to copy the Master. I will have to start to re-read the thread again this weekend. He pointed out some basis which I have to study all over again.

You guy should have a nice weekend.

this is a great Supply and Demand Technical Indicator .. Thanks a lot mate

CHFJPY
There wasn't much to relate to, because price is close to ATH (All Time High).
We could have rlated to W1 Zone_Candle_Index = 87

PTECZ Rulez!

EURCAD

PTECZ Rulez!

EURAUD

Draw this H1 PTECZ on your chart,
in rectangle parameters change first date to year 2000,
switch to D1 and see for yourself.
PTECZ Rulez!

AUDUSD

PTECZ Rulez!

EURGBP

Do you know why PTECZ Rulez, here too?
Because price is stuck in the D1 PTECZ!

GBPUSD

This one seems still to have some potential.
PTECZ knows the answer.

GBPJPY

I guess, you know the answer by now?

USDJPY

Sometimes, you have to search very far in history.
So, it is better to see the current PTECZ.
After all, if there is a PTECZ now, this must be some historical level.
If the price reaches All Time New H/L, then it becomes the extreme.

EURJPY


EURUSD

For GPY/JPY, we are entering to a great resistance going back (43200) Zone_Candle_Index = 45, when the bear market started. Just be cautious in taking Longs at this level if you are a long-term trader. However, it may retest the High of that month which is about 1000 pips from current level--but is a battle going up there.
Sorry I don't have a pic. I 'll buy a new laptop this weekend.

4x4x

This is what forexforex means:

Yes, there is 1094 Pips up.

But, that can be far future.

Thanks Dadas for posting the picture,
I had a micro account that I used to enter Short way back January 2010 as my Long-Term trade. I let it ride down 'till when I closed it July 1012. I can't believe it that i kept it for a long period of time. I wish it was my regular account that I used. Until now, however, I am still not comfortable in long term investment as the market fluctuates so much and could wipe out a regular account if you don't have a very large capital. I consider myself scalper to short-term trader.

My advice to traders: Path to successful trading.

1. Study the historical data. Keep on practicing. Go to previous index of a particular TF and see how you will you do. You don't risk money this way. This will build your confidence in reading the market, and you will learn your own individual trading style that you feel comfortable with. Dadas has already given us the tool to use to study previous data. "Historical data formation tends to repeat itself"
2. Trust in Dadas' trading methodology. I have been using this trading style ever since I started for my short-term trading style, well almost like Dadas' (I still use some indicators as confirmations). Dadas' is more intuitive and I agree that i don't really need indicators)
3. Be a disciplined trader
4. Account Management is critical. You are gonna lose some and win some. With Dadas trading methodology, you will win more, much more. Know when to quit in a losing trade. There will be more trades along the road.
5. Most importantly: Do #1.

Great trading and take care!
4x4x

To ejiexe:

Great post forexforex!

I wil add:

Be consistent - consistently Stop Loss - you will certainly lose!

Be consistent - consistently Take Profit - you will certainly succeed!

ejiexe

Just remember it is Friday and Market closes.

We have not had any feedback from ejiexe how his CHFJPY trade closed.



On the M30 we see a PTECZ.

However, the Market was slow and the situation was clear on M5.
The M30 PTECZ looks like this on M5:


Notice Candle_Index = 16

Until this moment the price was moving up steadily.
This Candle the price suddenly bounced back.

So, this is a signal, that the trend is ending.

We can move the upper border of the PTECZ to the High level:

Thus, if we have not closed, yet, we must look for close as high as possible.

Especially, that it is Friday, and if anybody held out for so long,
they can not lose the last moment!