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Price Action in Day Trading by Dadas

  • #861
  • Apr 14, 2013 1:14am Apr 14, 2013 1:14am
Quoting Dadas
There are a lot of PTECZ. You missed a lot, but that is not important. We look for important PTECZ. This is PTECZ: {image} I draw lines for you on your picture, for you to see: {image}
Thanks a lot sir now it much clearer for me which is PTECZ and which is not, now I understand why you insist me to see the bigger picture
looking forward monday to test if I have understand by forward test it please correct me if you think my understanding is still not correct
  • #862
  • Apr 14, 2013 1:27am Apr 14, 2013 1:27am
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}
I'm sorry for interrupting the strategy tester only work with your chart history example:
You have chart GBP-USD from 1 October 2012 then the strategy tester only work from 1 October - last updated chart
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 24 KB
  • #863
  • Edited 4:27am Apr 14, 2013 3:59am | Edited 4:27am
Quoting TraderinSD
I'm telling ya .. it will never stop... You know what I mean. Good trading to ya my friend TSD
Yeah, I know.

I am, perfectly aware of this fact.

It will stop - when I stop... answering!

You see, I knew what I was stepping into,
I did some pre-testing on another forum.
Gaining experience, so to say.

Thanks, and to you, too!
Trade the facts, not opinions.
  • #864
  • Apr 14, 2013 4:44am Apr 14, 2013 4:44am
About charts in post #3 and #4

These charts are hosted on another server.

When I was creating this thread, I could not post
more than 5 images per post.
You know I need a lot of images per post.

That is why I couldn't put everything in post #1.

Now, I can not edit posts #3 and #4.

The host has this message when I log into my account:

Servers under the DDOS attack
We're currently experiencing issues due to a DDoS attack targeting our servers. This is resulting in some of our customers sites being slow or even unavailable. Our admin team currently blocking attack source and server should back online shortly.

This is a global issue and most of the incoming traffic is being directed to the WordPress login page which is why during the attack WordPress logins will be disabled and wp-login.php script will redirect to our error page. We are monitoring the situation and doing everything we can to minimize the downtime as much as possible. You can read more about the problem @ http://blog.cloudflare.com/patching-...e-wordpress-br

Please do not submit and tickets about this issue and do not increase our work load as we are fully dedicated in resolving this problem. We thank you for your patience and understanding in the matter.

Please be patient!
Trade the facts, not opinions.
  • #865
  • Apr 14, 2013 5:16am Apr 14, 2013 5:16am
What PTECZs show:

EURUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4_analysis.png Size: 81 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30_analysis.png Size: 82 KB
Trade the facts, not opinions.
  • #866
  • Apr 14, 2013 5:53am Apr 14, 2013 5:53am
What PTECZs show:

XAUUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdweekly.png Size: 70 KB

Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 75 KB

Make pure PTECZ - remove the ZL Dash line:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4-.png Size: 74 KB
Trade the facts, not opinions.
  • #867
  • Apr 14, 2013 5:53am Apr 14, 2013 5:53am
This is the best desciption of pa i have seen since James16. Congratulations.
  • #868
  • Apr 14, 2013 6:02am Apr 14, 2013 6:02am
Quoting IRISH37
This is the best desciption of pa i have seen since James16. Congratulations.
Thank You!
Trade the facts, not opinions.
  • #869
  • Apr 14, 2013 6:41am Apr 14, 2013 6:41am
What PTECZs show:

EURJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4_analysis.png Size: 80 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30_analysis.png Size: 76 KB
Trade the facts, not opinions.
  • #870
  • Apr 14, 2013 6:49am Apr 14, 2013 6:49am
In this way we visualize the potential Zone for opening a Short trade. We aim to open the Short when the price plunges back up into the CSCZ, or as close to the Zone as possible. Our SL should be a few Pips above the CSCZ. In this case, around 10 - 25 Pips. Is the price going to go down, for sure? That, we do not know, and we can never know for certain. That is why we use SL and set our TP at least 2xSL, thus keeping a positive Risk to Reward ratio, (R/R). With the very same procedure, drawing CSCZs on Candle Shadows, we can watch Price Action in relation to those Zones and make decisions when to close a trade and/or open a new trade. {image} Before you decide to use this strategy investing real money, practise on a Demo account. Take as much time, as you need to master the strategy, which means you are able to consitently create profit over loss, and your account Balance is positive. This strategy is the early stage of my realizations. The next faze - The Zone Candle Concept - will be found here: http://www.forexfactory.com/showthre...96#post6528596[/quote]


Very well step by step directions. But I am not clear where is my profit? You did not indicate where should be the TP? And when you are indicating to go for short, price is falling!!!Then if I buy, how can I get profit??
  • #871
  • Apr 14, 2013 7:50am Apr 14, 2013 7:50am
Quoting Red Herring
In this way we visualize the potential Zone for opening a Short trade. We aim to open the Short when the price plunges back up into the CSCZ, or as close to the Zone as possible. Our SL should be a few Pips above the CSCZ. In this case, around 10 - 25 Pips. Is the price going to go down, for sure? That, we do not know, and we can never know for certain. That is why we use SL and set our
TP at least 2xSL,
thus keeping a positive Risk to Reward ratio, (R/R). With the very same procedure, drawing CSCZs on Candle Shadows, we can watch Price Action in...
I only have one answer to your questions:
Continue reading and practising.
There are 58 (and counting) pages and well over 500 examples.

PS.
Short means Sell.
Long means Buy.
Trade the facts, not opinions.
  • #872
  • Edited 8:25am Apr 14, 2013 8:06am | Edited 8:25am
Quoting Dadas
We aim to open the Short when the price plunges back up into the CSCZ, or as close to the Zone as possible. Our SL should be a few Pips above the CSCZ. In this case, around 10 - 25 Pips. Is the price going to go down, for sure? That, we do not know, and we can never know for certain. That is why we use SL and set our TP at least 2xSL, thus keeping a positive Risk to Reward ratio, (R/R).
I am sorry for my words, Red Herring, but, are you making a fool of yourself?
Do you realise what you are saying, here?

[quote=Red Herring;6602302]
And when you are indicating to go for short, price is falling!!!
Then if I buy, how can I get profit??
[/quote]

Buy when price is falling???

Believe me, some people are really having a laugh!


PS. Something wrong with the "quote"?
Trade the facts, not opinions.
  • #873
  • Apr 14, 2013 8:51am Apr 14, 2013 8:51am
Guys,

I can speak Polish, my native language.
I can speak English, my second language.
I can write and read both, fluently.

I can speak, read, and write some Russian.
I can speak and read some Czech and Slovak.
I can speak and read a little German.
I know some Spanish and French, and Italian.

I can understand things when I read, and help myself with online translators.

There are people from all over the world, here.

The language for communication is English.

I can not help, if you do not understand what you are reading in English!

You must seek help from someone who understands.
Trade the facts, not opinions.
  • #874
  • Apr 14, 2013 9:07am Apr 14, 2013 9:07am
I do not like it when the above is happening.
Maybe, some people should simply find something else to do instead of Forex.
Forex knows no mercy. The Market will drain the accounts of those, who do not understand!

Sometimes, it is better for you to realise this truth before you lose all your money!

I like analysis:

EURAUD:
Attached Image (click to enlarge)
Click to Enlarge Name: euraudh4.png Size: 74 KB

Attached Image (click to enlarge)
Click to Enlarge Name: euraudm30.png Size: 80 KB
Trade the facts, not opinions.
  • #875
  • Edited 9:29am Apr 14, 2013 9:09am | Edited 9:29am
audusd:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 77 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30.png Size: 71 KB
Trade the facts, not opinions.
  • #876
  • Apr 14, 2013 9:42am Apr 14, 2013 9:42am
Quoting Dadas
I only have one answer to your questions: Continue reading and practising. There are 58 (and counting) pages and well over 500 examples. PS. Short means Sell. Long means Buy.

Surely I will because this is the only thread that is clearing how the candlestick works, great job and thanks for replying.
  • #877
  • Apr 14, 2013 10:37am Apr 14, 2013 10:37am
Hi Dadas,

Please correct if im wrong, the bottomline strategy is CSCZ, whereby we will need to use 2 time frame, drawing the 3 zones in both time frames. Entry will be in CSCZ . TP at the end of PTEZ.

What 2 timeframes that you currently use for daytrading ? is it m30 and h1?

for the candle which you used to draw CSCZ, are you looking at first rejection candle(beginning of price consolidation) or are you looking for engulfing pattern (end of price consolidation)?

I was following until page 4 http://www.forexfactory.com/showthre...42#post6530642 where Im abit confused which candle to use for CSCZ. Please enlighten.
Attached Image (click to enlarge)
Click to Enlarge Name: q1.png Size: 60 KB

Is it correct to consider the first bearish at the top of the chart as first rejection candle ? and I can draw CSCZ on that candle (although I know the shadow for that candle is really small).

Then it was followed with a long bearish candle and a bullish candle was formed after the long bearish candle which I consider that as rejection candle. Is that why you draw your CSCZ on that bullish candle ? .

As for PTEZ, are you drawing on the same candle that you used for CSCZ ?

As for Zone candle concept, I dont see how is that helping as from what I see you are looking entry at CSCZ instead of the other 2 zones ( body and lower shadow). Can you enlighten me how Zone candle concept is integrated in CSCZ?
  • #878
  • Apr 14, 2013 11:24am Apr 14, 2013 11:24am
Quoting Jasper Ng
Hi Dadas, Please correct if im wrong, the bottomline strategy is CSCZ, whereby we will need to use 2 time frame, drawing the 3 zones in both time frames. Entry will be in CSCZ . TP at the end of PTEZ.
You are wrong.
There is no bottom line strategy.
The strategy is up to you.
I present a concept, a way to read and see the chart, a way to read Price Action.
I present in detail the ways you can do that.
I present helping tools.
Everything is described in detail as you read on.
Page 4 is just the early beginnings.
You must read it all, you must follow.

Practise is another thing, you can practise step-by-step. It takes time.
But, you should keep updated on what is going on in the thread,
and there are a whole lots of things going on!

Quoting Jasper Ng
What 2 timeframes that you currently use for daytrading ? is it m30 and h1? for the candle which you used to draw CSCZ, are you looking at first rejection candle(beginning of price consolidation) or are you looking for engulfing pattern (end of price consolidation)?
I use the PTECZ concept. PTECZ knows the answer.
I use the MN, W1, D1, H4, H1, M30, M15 and M5 charts.
It is important to know your Global and Local situation at all times!
Again, everything has already been explained in the thread.

The CSCZ simple strategy is just one example for beginners to practise.

Quoting Jasper Ng
Im abit confused which candle to use for CSCZ. Please enlighten.
Is it correct to consider the first bearish at the top of the chart as first rejection candle ? and I can draw CSCZ on that candle (although I know the shadow for that candle is really small).
You can do whatever you want, but do you know anything about Price Action?
Did you understand the basics how to read Price Action on every Candle?
If you did, you would draw CSCZ on the shadows of the Break Down/UP Candle,
as the signal of trend reversal, not on some unknown little Candle which means nothing.

Quoting Jasper Ng
Then it was followed with a long bearish candle and a bullish candle was formed after the long bearish candle which I consider that as rejection candle. Is that why you draw your CSCZ on that bullish candle ?
As above - you should know the answer by now!

Quoting Jasper Ng
As for PTEZ, are you drawing on the same candle that you used for CSCZ ? As for Zone candle concept, I dont see how is that helping as from what I see you are looking entry at CSCZ instead of the other 2 zones ( body and lower shadow). Can you enlighten me how Zone candle concept is integrated in CSCZ?
As for the Zone Candle - is it not obvious? Shadow - Body - Shadow?
Read about the Zone Candle again. I do not like to repeat myself a hundred times!
Read the whole thread and find your answers, they are all there.

The same for PTECZ.
Most of this thread is about the PTECZ and trading from the PTECZ.

But, you must understand the workings of the Candle first.

All your questions just prove one thing - you did not understand the workings of the Candlestick.
Without the understanding of the workings of the Candlestick you can not read Price Action.
When you can not read Price Action, you can not understand the rest!

Please, post me the story of the price beginning from the last Bullish Candle at the top
of the chart that you show in your post until the Bullish Candle after the Doji at the bottom.
Trade the facts, not opinions.
  • #879
  • Apr 14, 2013 11:33am Apr 14, 2013 11:33am
Quoting Dadas
Without the understanding of the workings of the Candlestick you can not read Price Action.
Thats not true Dadas. Candlesticks are just representation of price in one way. PA is just the way price changes in time. Thats only to a trader if he wants to use Candles, Bars, Line chart, Renko, P&F or just simple DOM ladder without price chart.
  • #880
  • Apr 14, 2013 11:39am Apr 14, 2013 11:39am
Quoting markup
Thats not true Dadas. Candlesticks are just representation of price in one way. PA is just the way price changes in time. Thats only to a trader if he wants to use Candles, Bars, Line chart, Renko, P&F or just simple DOM ladder without price chart.
Yes, tell that to the newbie, who has no idea what you are talking about.

I assume, you did not read the Understanding the chart post#3 and #4?

This is not anything an experienced trader would want to read, is it?

PS,
It took you 6 years to be where you are now.
Some people are still toddling after 6 years in Forex.
I know one trader who is trading for 3 years, and does not
know how to install a custom indicator in MT4.

People come in all sorts of different types!

And, it is true.

The guy who invented the Candlestick idea had a good reason for this.
Trade the facts, not opinions.
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