Price Action in Day Trading by Dadas | Page 43 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price Will Tell - Supply/Demand Price Action Trading 1,858 replies

The Price is Right: Trading Price Action 219 replies

Price action at the core / tma intra day 5,016 replies

2 day price action 8 replies

Attachments: Price Action in Day Trading by Dadas
Exit Attachments

Price Action in Day Trading by Dadas

  • #841
  • Apr 13, 2013 6:41am Apr 13, 2013 6:41am
@markup

Very Funny
We always have a choice to be right or kind,be kind you will learn more.
  • #842
  • Apr 13, 2013 6:54am Apr 13, 2013 6:54am
Quoting markup
We have strong breakout on W1 and some big players might loss their shirts sending it even lower. If it closes back above the support i will changhe my mind but at current moment there is fear and panic in the air, giving nice trade opportunity with low risk entry. Just watch next week.
I never said the Uptrend will start right away next week.
Though, who knows?

Your points are absolutely valid!

However, PTECZ will show!
Trade the facts, not opinions.
  • #843
  • Apr 13, 2013 7:20am Apr 13, 2013 7:20am
@Dadas
This might avoid some questions on mt4 for you- http://www.forexfactory.com/showthread.php?t=67529

We always have a choice to be right or kind,be kind you will learn more.
  • #844
  • Apr 13, 2013 7:38am Apr 13, 2013 7:38am
How the Big Guys control unexperienced traders

What happend on GOLD since 4, April and yesterday
is a perfect example of the way the Big Guys control the
small traders, how they build Market Sentiment.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 79 KB

As the charts show, now that you can read the charts,
they were building a Bullish sentiment.
Then, they gave a strong Break Up signal.
It is easy to understand, that very many less experienced
traders and those emotional ones, could hit the Buy button
upon the Break Up signal.

But, we have got a great weapon! The PTECZ!

We know that we do not Buy at tops!
So, we wait until we see the PTECZ.

And, the PTECZ shows!

A Day Trading solution for GOLD (my advice):
No matter what, follow the H4 chart.
Forget any lower Tfs, do not even bother!
Follow the PTECZ.
When you see the PTECZ setup, act accordingly on retrace.
Do not care about precision Entry, it does not matter, here.
Just Enter at tops for Short, at bottoms for Long.

When in position, follow the PTECZ.

When GOLD moves, it moves!

Forget the small moves on GOLD, think Big!
Trade the facts, not opinions.
  • #845
  • Edited 8:17am Apr 13, 2013 7:41am | Edited 8:17am
Quoting emailpat
@Dadas This might avoid some questions on mt4 for you-
http://www.forexfactory.com/showthread.php?t=67529
Right, but it should not be @Dadas!

It should be @Everyone who needs it!

There is little Dadas does not know about the MT4.

If Dadas does not know, Dadas knows where to look for the answers!
Trade the facts, not opinions.
  • #846
  • Apr 13, 2013 8:28am Apr 13, 2013 8:28am
Quoting Dadas
Right, but it should not be @Dadas! It should be @Everyone who needs it! There is little Dadas does not know about the MT4. If Dadas does not know, Dadas knows where to look for the answers!
Yes, I know that but if you put this link and the one you stated at the top of your thread then other people including me can save you some grief by referring people accordingly hence you do not need to get involved unless you want to. Just trying to help
We always have a choice to be right or kind,be kind you will learn more.
  • #847
  • Edited 9:54am Apr 13, 2013 9:08am | Edited 9:54am
I am being creative, as usual.

So, one more time, I will show you an example of the PTECZ method
with the help of the Custom_Zone_Candle_with_Index.mq4 !

1. Open the H4 GOLD chart with Custom_Zone_Candle_with_Index.mq4 :
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_helpers.png Size: 77 KB

You see there are labelled indications of MN PTECZ and D1 PTECZ.

2. First, check the H4 PTECZ that could be labelled or not,
depending what time you were looking,
but the diamond indicates it.
Custom_Zone_Candle_Tf = 240 (for H4 PTECZ),
Custom_Zone_Candle_Index = 7 (now it is Index = 7, it was a lower Index last morning):
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_h4.png Size: 77 KB


3. Now, check the D1 PTECZ:
Custom_Zone_Candle_Tf = 1440 (for D1 PTECZ)
Custom_Zone_Candle_Index = 1 (the indication label is for Index = 1):
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_d1.png Size: 77 KB


4. Check the MN PTECZ:
Custom_Zone_Candle_Tf = 43200 (for MN PTECZ),
Custom_Zone_Candle_Index = 1 (the indication label is for Index = 1):
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_mn.png Size: 78 KB

This, will give you the complete picture of the situation.

5. Check the Pip potential for TP:
Look for historical PTECZs which ended a historical Bearish Trend.
The Price is in Bearish Trend, so we look for PTECZs for Bearish Trend.
Plot these manually.
Sometimes, you may have to look very far in history.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4_hist.png Size: 67 KB


5. Working without TP:
A different solution is to just follow the Price until you see the new PTECZ.
Decide the Exit upon PA and PTECZ.

When PTECZ Labels indicate Trending on higher Tfs, check them out by switching
to the higher Tfs. You might want to check earlier PTECZs.

Additionally, use your R/R and MM.

You have got a powerful strategy!

Share your results, why have you stopped?

I need your feedback!

Others need your feedback!
Trade the facts, not opinions.
  • #848
  • Apr 13, 2013 9:10am Apr 13, 2013 9:10am
Quoting emailpat
Yes, I know that but if you put this link and the one you stated at the top of your thread then other people including me can save you some grief by referring people accordingly hence you do not need to get involved unless you want to. Just trying to help
Help appreciated!
Thank You!
Trade the facts, not opinions.
  • #849
  • Apr 13, 2013 11:09am Apr 13, 2013 11:09am
Excuse me Mr. Dadas since you're online I would like to ask your help if it not bother you,,
I have practicing to spot the PTECZ manually please correct me if there is PTECZ missed by me or if one of them are not PTECZ here is the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 35 KB


I try to find it manually first before using the indicator so I could get customized to see the PA
Thanks in advance
  • #850
  • Apr 13, 2013 12:43pm Apr 13, 2013 12:43pm
Quoting zarach
Excuse me Mr. Dadas since you're online I would like to ask your help if it not bother you,, I have practicing to spot the PTECZ manually please correct me if there is PTECZ missed by me or if one of them are not PTECZ here is the chart: {image} I try to find it manually first before using the indicator so I could get customized to see the PA Thanks in advance
There are a lot of PTECZ.
You missed a lot, but that is not important.
We look for important PTECZ.

This is PTECZ:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30_ptecz.png Size: 56 KB


I draw lines for you on your picture, for you to see:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 42 KB
Trade the facts, not opinions.
  • #851
  • Apr 13, 2013 1:48pm Apr 13, 2013 1:48pm
Quoting Dadas
Yes, Guys, that is correct, experiment, learn, practise, find your best way! I do not understand the disbelievers and the whole talk about retrospective, or hindsight, and that it is not reliable. To me it is only about not having the know-how. Have you ever heard about the Strategy Tester in MT4? Do you know how to use it? The Strategy Tester is not only for testing Expert Advisors! There is the visual mode. During the weekend, if you wish, just run any strategy in visual mode in Strategy Tester. On the M30 chart, just for example. Use date, set...
Hi Dadas,hope you are enjoying your weekend?pls i have battling with back-testing of your strategy as advised since its weekend,but it wouldnt work.on pressing the start button it would make a bird-like kind of noise and nothing 'll happen there after,although as you can see on my chart,it shows WAITING FOR UPDATE for long.From the chart,pls what I'm doing wrongly here.thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: plat.png Size: 91 KB
If you dont stand for something,you 'll fall for anything.
  • #852
  • Edited 2:19pm Apr 13, 2013 2:07pm | Edited 2:19pm
Quoting finaclefx
Hi Dadas,hope you are enjoying your weekend?pls i have battling with back-testing of your strategy as advised since its weekend,but it wouldnt work.on pressing the start button it would make a bird-like kind of noise and nothing 'll happen there after,although as you can see on my chart,it shows WAITING FOR UPDATE for long.From the chart,pls what I'm doing wrongly here.thanks! {image}
The first thing you are doing wrong is that Custom_Zone_Candle_with_Index.mq4 is not EA!
It is an Indicator, not Expert Advisor.
You can not put Custom_Zone_Candle_with_Index.mq4 in the experts folder,
but only in experts -> indicators folder.

In testing the strategy in Strategy Tester, you must use any other strategy
which is already on the list in the Expert Advisor: textbox.

Custom_Zone_Candle_with_Index.mq4 is not an Automatic Strategy!

It is not the Expert Advisor strategy which is important here, but the fact that
you can simulate trading on historical data like in real time and faster.

You can not use the indicator, you must plot PTECZ manually when testing in Strategy Tester.

I do not know if the index function will work on ST.
Theoretically, you can put the indicator on the chart like in normal conditions.

Indicators on chart - not in Expert Advisors!

The rest is OK.

First, learn to use ST, choose any Expert Advisor, rest of settings like they are.
Click on Start button.
Wait for update.
Make sure you are connected with the broker's server!

After update you will see the graph drawn only faster than real time.
Then, experiment with Pause/Play button.

Then, you can Pause the graph at some moment, plot PTECZ, place horizontal line
where you would Enter Trade and note which direction, arrow would be nice.
Then, Play the graph and see what happens.

Good Luck!

PS.
Yes, you can put the indicator and template on the tester charts.
It is working!
Trade the facts, not opinions.
  • #853
  • Apr 13, 2013 2:51pm Apr 13, 2013 2:51pm
Good evening Dadas! First of all I'd like to thank you for your experience and sharing your knowledge with everyone on that forum. Today I tested your PTECZ method in ST on 1H TF EUR/USD. To make simple I didn't switch on lower TF and worked with pending orders out of PTECZ borders only. I want to say results are great. Dziekuje bardzo!
  • #854
  • Apr 13, 2013 2:55pm Apr 13, 2013 2:55pm
Hi Dadas
Post #850
I want to know if the ones i drawed are also PTECZ.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Post #850_audusdm30_ptecz.PNG Size: 61 KB
  • #855
  • Apr 13, 2013 3:08pm Apr 13, 2013 3:08pm
Dadas,

thank you for the wonderful thread but I'd like to ask you if there is another resource where I can find all the pictures from the post #2?

I'm sorry if this question has been already answered.

Regads,
Philipp
  • #856
  • Apr 13, 2013 3:26pm Apr 13, 2013 3:26pm
Quoting mosah
Hi Dadas Post #850 I want to know if the ones i drawed are also PTECZ. Thanks {image}
No, they are Local Break Down/Up Candles.
Breaks from smaller Consolidation, which I am not interested in, unless I were scalping.
They show that Bulls tried up, but PTECZ held.
Then, Bears Broke Down from PTECZ, signal for Short on retrace to PTECZ.
Trade the facts, not opinions.
  • #857
  • Apr 13, 2013 3:34pm Apr 13, 2013 3:34pm
Quoting phi1ipp
Dadas, thank you for the wonderful thread but I'd like to ask you if there is another resource where I can find all the pictures from the post #2? I'm sorry if this question has been already answered. Regads, Philipp
Yes, on my internet site.
But, I can not put it here.

The charts are showing, now.

You can RMC on any chart and see the link in properties.
Trade the facts, not opinions.
  • #858
  • Apr 13, 2013 3:59pm Apr 13, 2013 3:59pm
Thank for your response.
However, i don't understand why these 2 candles are in the same context and the #2 is PTECZ but the #1 is not.
Attached Image (click to enlarge)
Click to Enlarge Name: Post #850_audusdm30_ptecz.PNG Size: 59 KB
  • #859
  • Apr 13, 2013 4:11pm Apr 13, 2013 4:11pm
Quoting mosah
Thank for your response. However, i don't understand why these 2 candles are in the same context and the #2 is PTECZ but the #1 is not. {image}
Repeat for a hundredth time, plus:

PTECZ - Potential Trend Ending Consolidation Zone

#2 is PTECZ because it Potentially signals the End of the previous
Longer Bearish Candle - Trend.

#1 is NOT PTECZ, because the Candle before it is shorter than this Candle.
It does not End any Trend, it Continues the earlier Bullish Trend.
It is the Bulls trying to go up again, but not able to make new High.

If you want to make a new concept, please do, just name it another way.
PTECZ is mine! Copyrighted!


Please, read the definition of the PTECZ.
Trade the facts, not opinions.
  • #860
  • Apr 13, 2013 4:18pm Apr 13, 2013 4:18pm
Quoting Dadas
Repeat for a hundredth time, plus: PTECZ - Potential Trend Ending Consolidation Zone #2 is PTECZ because it Potentially signals the End of the previous Longer Bearish Candle - Trend. #1 is NOT PTECZ, because the Candle before it is shorter than this Candle. It does not End any Trend, it Continues the earlier Bullish Trend. It is the Bulls trying to go up again, but not able to make new High. If you want to make a new concept, please do, just name it another way. PTECZ is mine! Copyrighted! Please, read the definition of the PTECZ.
I'm telling ya .. it will never stop...

You know what I mean.

Good trading to ya my friend

TSD
1 trader viewing now