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Price Action in Day Trading by Dadas

  • #761
  • Apr 12, 2013 3:07am Apr 12, 2013 3:07am
Quoting markup
Dadas, I cant see any signs of pending down breakout there. In hindsight its easy to tell that it would work but in all honesty price had to break demand area before one could say shorts are on the play. {image}
There is a difference between scalping the M5 and targetting more Pips.
I was targeting the M30 Potentials based on full analysis.
If I had beedn looking at this pair, I would have taken the second Short.

AUDUSD MN:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdmonthly.png Size: 77 KB

The MN chart suggests a Break Up from PTECZ, but not closed.

AUDUSD W1:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweekly.png Size: 76 KB

Show a general Downwards inclination.

AUDUSD D1:
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 98 KB

Having my PTECZs, I see the Price bounce off the top.

AUDUSD H4:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 80 KB

I am Day Trading.
The setup is for Shorts.

AUDUSD H1:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 77 KB

This only confirms my Short.

AUDUSD M30:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 73 KB

I optimise PTECZS.

AUDUSD M5:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5---.png Size: 85 KB

I trade.
Trade the facts, not opinions.
  • #762
  • Apr 12, 2013 3:09am Apr 12, 2013 3:09am
Quoting zarach
excuse me, just a thought of mine,, about consolidation area: - Which consolidation (supply and demand area) we must follow? a. Price will consolidate IF there is a few of market participant b. Market participants wait for moment ie. news c. Market participant didn't accept price to move lower or higher (BUY & SELL equilibrium) I think the best consolidation area to follow is C. Because I assume IF market participants didn't accept price to move lower or higher until one of the participant is defeated maybe in the future that area will be defended...
Pleas, read the thread from post#1.

The whole idea is presented throughout the whole thread with hundreds of examples!
Trade the facts, not opinions.
  • #763
  • Apr 12, 2013 3:14am Apr 12, 2013 3:14am
Yes sir I'm still reading it right now I'm sorry for the intrusion
  • #764
  • Apr 12, 2013 3:15am Apr 12, 2013 3:15am
Quoting Dadas
There is a difference between scalping the M5 and targetting more Pips. I was targeting the M30 Potentials based on full analysis. If I had beedn looking at this pair, I would have taken the second Short. AUDUSD MN: {image} The MN chart suggests a Break Up from PTECZ, but not closed. AUDUSD W1: {image} Show a general Downwards inclination. AUDUSD D1: {image} Having my PTECZs, I see the Price bounce off the top. AUDUSD H4: {image} I am Day Trading. The setup is for Shorts. AUDUSD H1: {image} This only confirms my Short. AUDUSD M30: {image} I optimise...

I agree about the longterm view but i can't seem to grasp how did you come to conclusion that bears are in control while clearly price is reacting strongly to the demand zone. Easier case would be to play the breakout and retast of that zone. On the other note highlightning the second short zone would be impossible before the breakout.

Small mistake on chart
***Should be "Strong upmove and consolidation doesnt show any sings of bear strenght"
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-12_1009.png Size: 356 KB
  • #765
  • Apr 12, 2013 3:21am Apr 12, 2013 3:21am
Quoting markup
Why didn't you take profits when price reached strong demand area for the first time? Price was flagging and it was risky to keep it open while it was heading back to your entry. IMO the PA showed better long then short opportunity. {image}
One more explanation:

There was an area, so the price reacted, accordingly.

But, PA is also about Price Action, if you do not know, yet.
The current Candle carries a lot of information.
Watch it, and you will finally see.

Why should I close when there is no new High?
Bearish Candles are stronger than Bullish Candles.

The Zone is there for your information, not for the price to obey the Zone!

The Zone means nothing if the Price does not want to obey it!

The PTECZ is Potential Trend Ending Consolidation Zone.

How many times must I repeat that?

Potential - Potential - Potential - Potential
Trade the facts, not opinions.
  • #766
  • Apr 12, 2013 3:28am Apr 12, 2013 3:28am
Quoting markup
I agree about the longterm view but i can't seem to grasp how did you come to conclusion that bears are in control while clearly price is reacting strongly to the demand zone. Easier case would be to play the breakout and retast of that zone.
Just look at the chart.

Stop fighting.

Just look at the chart.

Quoting markup
On the other note highlightning the second short zone would be impossible before the breakout. {image}
What do you mean.

I highlighted it before I did any trades.

It is a historical M5 PTECZ, as you see on the chart.
One that ended the local Bears on the Consolidation to the left.
Trade the facts, not opinions.
  • #767
  • Apr 12, 2013 3:28am Apr 12, 2013 3:28am
Quoting Dadas
One more explanation: There was an area, so the price reacted, accordingly. But, PA is also about Price Action, if you do not know, yet. The current Candle carries a lot of information. Watch it, and you will finally see. Why should I close when there is no new High? Bearish Candles are stronger than Bullish Candles. The Zone is there for your information, not for the price to obey the Zone! The Zone means nothing if the Price does not want to obey it! The PTECZ is Potential Trend Ending Consolidation Zone. How many times must I repeat that? Potential...
Agree. Zone iotself doesnt guarantee that price will respect it but in this case price did that to the pip. I'm trading PA for 6 years now and i know what you mean here . PTECZ concept is just another name put on top of the Price bahaviour and i have to say its a clever way of doing it with help of EA but its steel the same principal based on S/D and PA. Price consolidates , breaks out and consolidate - simple effect of price searching for liquidity

All the best
Please stop this "if you dont understand then just read my thread one more time and just look at the chart" thing. You wont accomplish anything by repeting that.
  • #768
  • Apr 12, 2013 3:31am Apr 12, 2013 3:31am
Just like I have these Zones already waiting:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_1.png Size: 67 KB
Trade the facts, not opinions.
  • #769
  • Apr 12, 2013 3:38am Apr 12, 2013 3:38am
Quoting markup
I'm trading PA for 6 years now and i know what you mean here .
Great!

How am I supposed to know that, until you tell me?

Quoting markup
PTECZ concept is just another name put on top of the Price bahaviour and i have to say its a clever way of doing it with help of EA but its steel the same principal based on S/D and PA. Price consolidates , breaks out and consolidate - simple effect of price searching for liquidity
Exactly, I have written about it, maybe not once,
that it is the S/D & PA idea in a new visual concept which I invented, myself!

Quoting markup
Please stop this "if you dont understand then just read my thread one more time and just look at the chart" thing. You wont accomplish anything by repeting that.
If I had know who you were, I would not write this to you!
There seem to be a lot of people, here who require this constant repetion, yet still make the same mistakes.

Please, forgive me, if you feel in any way disregarded.
Trade the facts, not opinions.
  • #770
  • Apr 12, 2013 3:51am Apr 12, 2013 3:51am
I found the M30 PTECZ I had missed, before.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_2.png Size: 80 KB
Trade the facts, not opinions.
  • #771
  • Apr 12, 2013 4:06am Apr 12, 2013 4:06am
Quoting lilies
finally took a trade after re-reading posts from page 1 (demo) any comments will be appreciated when you have the time, dadas. {image}
Good for you!
This is how you start, then keep going.

But, you did not use PTECZ, you used TBCZ.

PTECZ GBPUSD M30 looks like this:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm30.png Size: 59 KB

Looks like the train is moving.
Trade the facts, not opinions.
  • #772
  • Apr 12, 2013 4:27am Apr 12, 2013 4:27am
You see, it really is working.

The PTECZ knows the answer.
Watch PA in the PTECZ and around it!
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5.png Size: 83 KB
Trade the facts, not opinions.
  • #773
  • Apr 12, 2013 4:33am Apr 12, 2013 4:33am
@markup

I understand, now your safer-side, more moderate approach.
Just use the H4 PTECZ, then.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_markup.png Size: 72 KB
Trade the facts, not opinions.
  • #774
  • Apr 12, 2013 4:37am Apr 12, 2013 4:37am
Quoting limprobable
TP 1 reach + 40 pips
TP 2 reach + 60 pips.

Unfortunaltly, i take profit on TP1, and miss the TP 2. I take profit to soon. Yesterday, i made almost the same trade, but price go up just after tp1, so i was afraid today of the same thing. I must learn to have a better mm.
Bottomless wonders spring from simple rules, which are repeated without end
  • #775
  • Apr 12, 2013 4:38am Apr 12, 2013 4:38am
Quoting Dadas
@markup I understand, now your safer-side, more moderate approach. Just use the H4 PTECZ, then. {image}
I had my zone marked here. Entry on retest would give nice and drowdown free short opportunity

http://screencast.com/t/94dWErUOz
  • #776
  • Apr 12, 2013 4:41am Apr 12, 2013 4:41am
Quoting limprobable
TP 2 reach + 60 pips. Unfortunaltly, i take profit on TP1, and miss the TP 2. I take profit to soon. Yesterday, i made almost the same trade, but price go up just after tp1, so i was afraid today of the same thing. I must learn to have a better mm.
Show the charts, if and when you can, please.

I can comment if and when you post the charts with the trades.

Maybe, I can see something you did not see?
Trade the facts, not opinions.
  • #777
  • Apr 12, 2013 4:46am Apr 12, 2013 4:46am
Quoting markup
I had my zone marked here. Entry on retest would give nice and drowdown free short opportunity
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-04-12_1137.png Size: 253 KB


So, the PTECZ never misses it!
The higher Tf you take the PTECZ from, the more conservative the trade is.
The lower Tf the PTECZ is from, the earlier you can board the train.
The smaller SL you can set.
You may pay the ticket twice, but you will get your Profit!
Trade the facts, not opinions.
  • #778
  • Apr 12, 2013 4:50am Apr 12, 2013 4:50am
Quoting Dadas
Show the charts, if and when you can, please. I can comment if and when you post the charts with the trades. Maybe, I can see something you did not see?
There is no new PETCZ for a buy on H1. I take my TP1 cause i was not in front of my screen this morning. But the PA dont show any PETCZ for az long. So if i could have been in front of my screen this morning, i had probabbly not take the first TP.

(cant post a chart now, but the sell trade is post 739)
Bottomless wonders spring from simple rules, which are repeated without end
  • #779
  • Apr 12, 2013 5:01am Apr 12, 2013 5:01am
Hi Dadas and all,

my first trade
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  • #780
  • Apr 12, 2013 5:02am Apr 12, 2013 5:02am
AUDUSD D1 PTECZ is here:
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Click to Enlarge Name: audusddaily_ptecz.png Size: 98 KB

Attached Image (click to enlarge)
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AUDUSD H4 PTECZ is here:
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Click to Enlarge Name: audusdh4_ptecz.png Size: 78 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_h4_ptecz.png Size: 77 KB


AUDUSD H1 PTECZ is here:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1_ptecz.png Size: 76 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_h1_ptecz.png Size: 78 KB


AUDUSD M30 PTECZ is here:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30_ptecz.png Size: 72 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_m30_ptecz.png Size: 76 KB


AUDUSD M15 PTECZ is here:
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Click to Enlarge Name: audusdm15_ptecz.png Size: 79 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm5_m15_ptecz.png Size: 77 KB
Trade the facts, not opinions.
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