Price Action in Day Trading by Dadas | Page 35 | Forex Factory

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Price Action in Day Trading by Dadas

  • #681
  • Apr 10, 2013 5:17am Apr 10, 2013 5:17am
Quoting digu
Dear Dadas, It is from post 111 http://www.forexfactory.com/showthre...37#post6536237 Please give me some notes, thanks {image}
Yes, your answer is right in front of your eyes!
You have written it out, by yourself!

"I don't have enough confidence" - Your own words.

Of course you do not have enough confidence, if you have no strategy and little experience!
Of course you do not have enough confidence, if you do not know which trend you are trading!
Of course you do not have enough confidence, if you do not know what your target is!

I have explained many times, and in examples how the analysis should be done,
how to decide your strategy about which Tf you want to trade, how to define your target for the trade.

Yes, it is a Retrace of Downtrend.
But the larger trend is Up, already from H4 PTECZ.
From A Down stopped even Higher than before.

Which Pips are you interested in?
The Retrace on Retrace Pips or the Trend Pips? Do you know that?

Which Trend are you Trading? Do you know that?

Or, are you just doing something, but not knowing what?

It is not just about the PTECZ!

You will never know, until you get confidence!

You will get confidence, when you have 1 strategy you will always stick to.
You will get confidence, when you put your act together and start making Profit Trades.
Trade the facts, not opinions.
  • #682
  • Apr 10, 2013 5:25am Apr 10, 2013 5:25am
Hi all,

watching this on 5m chart, PTECZ's are on 30M chart, CSCZ is yesterday's.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 9 KB


if price breaks up, I will watch it to recheck blue PTECZ and buy on signal to the top of today, cca 20 pips
If price breaks down, I will watch it to recheck blue PTECZ and sell on signal to the red PTECZ cca 20 pips
if price does not recheck, well, I am conservative so I will wait for the next chance

Dadas if I am dreaming wake me up
  • #683
  • Apr 10, 2013 5:29am Apr 10, 2013 5:29am
Quoting ejiexe
Gold Update {image}
Yes, a nice trade!

However, you are fooling around with very dangerous explosives, here!
I is enough to look at D1 GOLD to see what GOLD can do:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddaily.png Size: 70 KB

It takes a moment to be -300 Pips, here.
And, it takes a moment to be +300 Pips, if you are in the right direction.

GOLD Ranges, Consolidates in a slow Trend in opposite direction, even 100 + Pips, then
suddenly jumps in the other direction. Like 400 to 500 Pips and even more.

The waves are big and strong, then small and weak.
It is when the wave calms down, we must be patient and catch the Big Wave.
Trade the facts, not opinions.
  • #684
  • Apr 10, 2013 5:45am Apr 10, 2013 5:45am
Quoting Dadas
Yes, a nice trade! However, you are fooling around with very dangerous explosives, here! I is enough to look at D1 GOLD to see what GOLD can do: {image} It takes a moment to be -300 Pips, here. And, it takes a moment to be +300 Pips, if you are in the right direction. GOLD Ranges, Consolidates in a slow Trend in opposite direction, even 100 + Pips, then suddenly jumps in the other direction. Like 400 to 500 Pips and even more. The waves are big and strong, then small and weak. It is when the wave calms down, we must be patient and catch the Big...
Have you heard about the term: Money Management?

Gold is like any other instrument - it just moves. Your work is to decide how much you risk per setup.
  • #685
  • Apr 10, 2013 5:47am Apr 10, 2013 5:47am
Quoting Pipanje
Hi all, watching this on 5m chart, PTECZ's are on 30M chart, CSCZ is yesterday's. {image} if price breaks up, I will watch it to recheck blue PTECZ and buy on signal to the top of today, cca 20 pips If price breaks down, I will watch it to recheck blue PTECZ and sell on signal to the red PTECZ cca 20 pips if price does not recheck, well, I am conservative so I will wait for the next chance Dadas if I am dreaming wake me up
Well, I see you have put your act together!
You know your target, you know what you are doing.
You have the 3 possible scenarios!

You are not dreaming, you are, simply doing it the proper way, watching PA!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 75 KB


Symptoms:
1. DR is on the Low side,
2. The general Trend is UP,
3. There is a Bullish Break Up H1 Candle,
4. The Price tested the H4 high, but got rejected and is retracing.

Be very careful about Shorts!
Be more open to Longs after retrace end.
Watch where the retrace ends, where you start seeing Break Up M5 Candles (or Engulfing).
Trade the facts, not opinions.
  • #686
  • Edited 6:54am Apr 10, 2013 6:34am | Edited 6:54am
Quoting markup
Have you heard about the term: Money Management? Gold is like any other instrument - it just moves. Your work is to decide how much you risk per setup.
Thank You so very much for breaking the news to me!

Quess, you are the first one to reveal this revelation to me!

Or, maybe you have not read the thread - my thread?!

Good luck!

BTW:

There are a lot of newbies on this thread, so
if you have anything specific to share about Money Management,
please, feel free to write an article and post it on my thread!
Trade the facts, not opinions.
  • #687
  • Apr 10, 2013 7:30am Apr 10, 2013 7:30am
Let's take a closer look at EURUSD:

D1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 65 KB

The just closed H4 (240) PTECZ shows clearly why the hestiation.
Price is at the level where it may be rejected and go back Down,
or may Break Up and continue UP.
We have been on a strong Bullish Trend.
What next?

H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 67 KB

The Price is retracing and Breaking Down from the H4 PTECZ.
However, the previous Bullish Candle levels have not been Broken.
We still must wait for new H4 to close.
The H4 PTECZ Candle was not an Engulfing or Break Down Candle!

H1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 55 KB

The H1 confirms the Resistance PTECZ as valid for now.

M30:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30.png Size: 60 KB

M30 confirms in bigger detail PA at Resistance levels.
We see a Break Down - Engulfing Candle at the top.
We see the Doji Candle at False Break Out (FBO) at the top of M30 PTECZ.

M5:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 75 KB


If you have got your R/R and MM right, the rest is up to you!
Trade the facts, not opinions.
  • #688
  • Apr 10, 2013 7:52am Apr 10, 2013 7:52am
IMPORTANT!
I am seeing that some of you still have not got it, yet!

There are many PTECZs on the chart, as you can see, now!

We are looking for Potential Trend Ending Consolidation Zone (PTECZ).

If your are going for 20 Pips plus, the trend you are interested in on EURUSD
is the main Daily Trend, not any subtrend!

Thus, the M30 PTECZ you were interested in, today was this one:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30.png Size: 60 KB

The one Potentially Ending the Bullish Trend PTECZ!
Not the one Potentially Ending the Bearish subtrend or Potential Retrace on the Bullish Trend.

This way, Pipanje would have gotten his 20 Pips in a clear way.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm5.png Size: 64 KB

From the Top PTECZ, not the Middle PTECZ.
Trade the facts, not opinions.
  • #689
  • Apr 10, 2013 8:50am Apr 10, 2013 8:50am
Quoting Dadas
IMPORTANT! I am seeing that some of you still have not got it, yet! There are many PTECZs on the chart, as you can see, now! We are looking for Potential Trend Ending Consolidation Zone (PTECZ). If your are going for 20 Pips plus, the trend you are interested in on EURUSD is the main Daily Trend, not any subtrend! Thus, the M30 PTECZ you were interested in, today was this one: {image} The one Potentially Ending the Bullish Trend PTECZ! Not the one Potentially Ending the Bearish subtrend or Potential Retrace on the Bullish Trend. This way, Pipanje...
point taken, thanks
  • #690
  • Apr 10, 2013 9:20am Apr 10, 2013 9:20am
Practice acc.
After seeing the PTECZ H1 , When prices climb again(LH) was unable ,switch to M15. Follow ingulfing candle get the top price for the sold.
PTECZ m15 too.
No predict only the Price action
Attached Image (click to enlarge)
Click to Enlarge Name: gold130410.gif Size: 29 KB
Persian Gulf forever
  • #691
  • Apr 10, 2013 10:22am Apr 10, 2013 10:22am
Quoting Dadas
One more hint: Do not look at the charts like maybe you can get some Pips! There are Pips everywhere. Look at your charts from the point of how many Pips I want to take. Then, look where those Pips are available, like I described in post #587 http://www.forexfactory.com/showthre...42#post6584342 Do not play a game of any chance! Play a game of potential chance where the chance is there, already! Know what you are going for! Do not show me analisys from nowhere! Show me analisys from the start point. From your target! If you...
Hi Dadas,well said!there are pips everywhere,the strategy to pick them has always be challenge but thank God for your systems that have changed my trading account.About posting our analysis,i attached 2 charts(GJ Daily and M15).I got this trick from your recent posts on combining CANDLE ZONE with PTECZ.From the daily chart,the PA was at the candle zone(red arrow) but yet to hit the peak-a bullish trend,then I would switch to M15 to find PTECZ.I go LONG as soon as there is a breakout off the zone based on the general direction from the daily chart at the beginning of new trading day(00:00) targeting 60pips.I wait for your comments.thanks!!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ_Daily.png Size: 19 KB
Click to Enlarge Name: GJ_M15.png Size: 20 KB
If you dont stand for something,you 'll fall for anything.
  • #692
  • Apr 10, 2013 10:30am Apr 10, 2013 10:30am
Quoting parsfx
Practice acc. After seeing the PTECZ H1 , When prices climb again(LH) was unable ,switch to M15. Follow ingulfing candle get the top price for the sold. PTECZ m15 too. No predict only the Price action {image}
Yes, the situation was also clear on H4 PTECZ from yesterday,
and following the H4 Zone Candle:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 82 KB


In such a situation on GOLD, entry is possible even from H1:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 71 KB


Just Enter Short as High as possible.
Trade the facts, not opinions.
  • #693
  • Apr 10, 2013 10:55am Apr 10, 2013 10:55am
Hi all,

I have done 4 trades since friday. One trade a day, all on eur/uds, All wins. 3 trades of +20 pips each and one today just close + 40 pips.

Very promising, but still learning. Cause the 4 trades was not optimized.

Unfortunatly cant post image at work to show my works.
Bottomless wonders spring from simple rules, which are repeated without end
  • #694
  • Apr 10, 2013 11:00am Apr 10, 2013 11:00am
Quoting finaclefx
Hi Dadas,well said!there are pips everywhere,the strategy to pick them has always be challenge but thank God for your systems that have changed my trading account.About posting our analysis,i attached 2 charts(GJ Daily and M15).I got this trick from your recent posts on combining CANDLE ZONE with PTECZ.From the daily chart,the PA was at the candle zone(red arrow) but yet to hit the peak-a bullish trend,then I would switch to M15 to find PTECZ.I go LONG as soon as there is a breakout off the zone based on the general direction from the daily chart...
Sorry, but I can not comment anything.

I see a different picture on my D1 GBPJPY chart.

You did not show any PTECZ, I can not see where you entered.

This is not a clear step-by-step analysis.

Did you close the 60 Pips?

What you write maybe makes sense, but you show nothing.
Trade the facts, not opinions.
  • #695
  • Apr 10, 2013 11:05am Apr 10, 2013 11:05am
gbpjpy
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpydaily.png Size: 60 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 58 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym15.png Size: 75 KB


If you entered Long where I show, or in that level,
you probably got your 60 Pips, didn't you?
Trade the facts, not opinions.
  • #696
  • Apr 10, 2013 11:10am Apr 10, 2013 11:10am
Quoting limprobable
Hi all, I have done 4 trades since friday. One trade a day, all on eur/uds, All wins. 3 trades of +20 pips each and one today just close + 40 pips. Very promising, but still learning. Cause the 4 trades was not optimized. Unfortunatly cant post image at work to show my works.
And I want to hear such things, here!

I want you to show off, here, too!

And, do not Give a Damn about the ones who do not believe!
Trade the facts, not opinions.
  • #697
  • Apr 10, 2013 11:13am Apr 10, 2013 11:13am
Quoting Dadas
And, do not Give a Damn about the ones who do not believe!
I believe but does that make it a fact?

Trading is about logic , not religion


GJ looks bullish to me. Close above your supply zone might give some good long opportunities.
  • #698
  • Apr 10, 2013 11:42am Apr 10, 2013 11:42am
Quoting parsfx
Practice acc. After seeing the PTECZ H1 , When prices climb again(LH) was unable ,switch to M15. Follow ingulfing candle get the top price for the sold. PTECZ m15 too. No predict only the Price action {image}
Good Parsfx. This is not a prediction but the logic.

There are other inform needed right. You can see LH. Is part of the method? Logic Logic Logic

Great trade
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #699
  • Apr 10, 2013 12:00pm Apr 10, 2013 12:00pm
Quoting Dadas
gbpjpy {image} {image} {image} If you entered Long where I show, or in that level, you probably got your 60 Pips, didn't you?
Yes,its hit the 60pips!Infact it has moved up over 100pips today here from my chart.As for the difference on our charts,could it be because of time zone?my MT4 time is London time +2.thanks!
If you dont stand for something,you 'll fall for anything.
  • #700
  • Apr 10, 2013 12:02pm Apr 10, 2013 12:02pm
Beautiful, GOLD typical!
Too bad I had to go do something else!
Oh, well, there is enough Pips around!
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm5.png Size: 63 KB
Trade the facts, not opinions.
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