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Price Action in Day Trading by Dadas

  • #961
  • Apr 15, 2013 11:51pm Apr 15, 2013 11:51pm
Thank You very much Mr. Dadas

and here is the analysis for UJ but I only attach from daily,,please don't angry I have analysis monthly and weekly before analysis on daily timeframe but if you want I will post it later

Daily
Attached Image (click to enlarge)
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from daily chart I see price trying to make new PTECZ but I don't know if it will be valid, only when the candle closed I know it is a PTECZ or not so for now I can only see daily is still trend down

H4
Attached Image (click to enlarge)
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4 hour ago price rejected and thus creating a new PTECZ so on the H4 the trend still not clear while the candle isn't closed yet if candle closed inside the zone then probability of up and down is still big on H4

H1
Attached Image (click to enlarge)
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on H1 the trend is up since price already closed out of PTECZ is it a retrace of daily trend I don't know yet

M30
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym30.png Size: 25 KB

on M30 the price looks like going to create new PTECZ I'll wait till it clearly form a PTECZ

Strategy:
I'm a day trader so I watch M30 for align with daily trend, as far the daily chart still trend down because the new PTECZ not confirmed yet I plan on selling at retrace from the nearest M30 PTECZ which I will watch closely on the checklist if it formed. then zoom in to M5 chart for the entry of the retrace.
  • #962
  • Apr 16, 2013 1:04am Apr 16, 2013 1:04am
Power of previous 4hr PTECZ
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym1601.png Size: 25 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #963
  • Apr 16, 2013 1:57am Apr 16, 2013 1:57am
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpym5.png Size: 26 KB


and there is the signal I open two position one targeted last low PTECZ m5 and the other trailing it while watching it closely if there is PTECZ appeared on M15 or M30
  • #964
  • Apr 16, 2013 2:44am Apr 16, 2013 2:44am
Quoting msetai
how off am i? i think the zones are fine because that price shows resistance on many TF, but it can also break easily... edit: was wrong chart {image}
First, get rid of the XProfuter !
I know I had posted it, but it was as a curiosity, not to use it seriuosly!

Second, asking me what Trade you should take is not the way!
Read the thread, learn, practise!
It can be Long, Short, anything!
Do you know your strategy?

Third, read our rules and apply them!
Learn Price Action first.
Learn the signals for Short and for Long!
Learn the analysis and you show me why Short or why Long.

I do not know what the Price will do next!
Trade the facts, not opinions.
  • #965
  • Apr 16, 2013 2:52am Apr 16, 2013 2:52am
Quoting obiza4real
Hi I av just started following U on this thread so i hadto read thru most of Ur quote i really appreciate it but i want to ask a question " If am using price action on daily H4,H1 wen its retracing aw will one no?' Expecting Your reply soon
Welcome on board!
I can not answer your question, because you are not asking any question.

I can show you on the chart, if you post a chart with the situation.

One knows what one sees on the chart.

One knows what one can read from Price Action.

One knows by using PTECZ with Price Action.

One knows when one has experience, learns a lot, studies a lot, practises a lot!
Trade the facts, not opinions.
  • #966
  • Apr 16, 2013 2:56am Apr 16, 2013 2:56am
Quoting msetai
well in hindsight a long would have been nice for a scalp so far...
This is your opinion! We do not post opinions!

Please, if you think you can help the person asking a question,
do it the right way, post your analysis for the situation.

You will help the asker and yourself!
Trade the facts, not opinions.
  • #967
  • Edited 5:45am Apr 16, 2013 3:03am | Edited 5:45am
@msetai
EURUSD H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-fxsalt-ltd.png Size: 77 KB

Shows me Bearish tendency.

EURUSD M30:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-m30-fxsalt-ltd.png Size: 90 KB

M30 confirms Bearish Tendency.
Pip potential ca. 40 Pips.

If your strategy says OK, then take Long at bottom, Short at Top.
Trade the facts, not opinions.
  • #968
  • Apr 16, 2013 3:15am Apr 16, 2013 3:15am
Quoting zarach
Thank You very much Mr. Dadas and here is the analysis for UJ but I only attach from daily,,please don't angry I have analysis monthly and weekly before analysis on daily timeframe but if you want I will post it later Daily {image} from daily chart I see price trying to make new PTECZ but I don't know if it will be valid, only when the candle closed I know it is a PTECZ or not so for now I can only see daily is still trend down H4 {image} 4 hour ago price rejected and thus creating a new PTECZ so on the H4 the trend still not clear while the...
Call me, simply, Dadas.
My real surname is different, Dadas is my nick name.
It has been my nickname for a long time.

Obviously, the MN and W1 levels do not change every day!
So, we do not need to check on them every day.

I like what you are posting!

People should take example from zarach!

Just watch PA in M30 PTECZ, but watch out if there is also H1 PTECZ,
because you can avoid the FBO issue.

Trade the facts, not opinions.
  • #969
  • Apr 16, 2013 3:36am Apr 16, 2013 3:36am
@zarach
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m30-fxsalt-ltd.png Size: 56 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m30-fxsalt-ltd-2.png Size: 56 KB
Trade the facts, not opinions.
  • #970
  • Apr 16, 2013 3:49am Apr 16, 2013 3:49am
Quoting zarach
{image} and there is the signal I open two position one targeted last low PTECZ m5 and the other trailing it while watching it closely if there is PTECZ appeared on M15 or M30
Look where Price is stopping:
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m5-fxsalt-ltd.png Size: 55 KB
Trade the facts, not opinions.
  • #971
  • Apr 16, 2013 4:03am Apr 16, 2013 4:03am
One more point, zarach:

You must understand Price Action!
Price Action is first! Price Action is most important!

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-h4-fxsalt-ltd.png Size: 61 KB


Do you see the long pin Candle on H4, almost Doji?
What information is this?
You are making too many assumptions.
You set your mindframe for Short.

This is the Big Mistake I am talking about!

In this situation, You must have a strong signal for Short!

M5 signal is not enough for the bigger Pips!

Now, Price is at the level of previous H4 Consolidation before Down.

What next?

We do not know!

PTECZ and Price Action!
Trade the facts, not opinions.
  • #972
  • Apr 16, 2013 4:20am Apr 16, 2013 4:20am
EURUSD D1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-fxsalt-ltd.png Size: 67 KB

This pictures shows clearly what is going on.
The Price is Consolidating.
It can Break in either direction!
Trade the facts, not opinions.
  • #973
  • Apr 16, 2013 5:00am Apr 16, 2013 5:00am
yes Dadas, actually i've closed my sell position when it retraced to the PTECZ

I'm not making assumption since you taught me we don't know the price will go I see too big direction for a day trader, I too focused on daily chart as the main picture and since it hasn't closed yet there is still no PTECZ on daily chart it still forming until it closed right, but as soon as I watch the H4 chart I stated before if the candle closed inside PTECZ then the probability of going up and down is still the same and the candle closed above the zone so the H4 not align with daily that time I realize it's not the best time to short, after London open I watch the m30 to get as closed as possible to my entry point to cut the loss then
thanks for reminding me Dadas
  • #974
  • Apr 16, 2013 5:05am Apr 16, 2013 5:05am
Hi Dadas,
I have got something about the index number dot and diamond that i need you to comment on.The index dot appears as early as a new candle does,during the price action for a particular TF,say M15 the candle most times crosses the black dot and diamond(if any) downside,but the candle 'll eventually close above the the dot and diamond(if any).I'm kind of confuse here,please share more light.Also,each time the diamond appears under a candle its most likely that candle is going to be the opposite of the previous one,correct?.That brings me to asking when does diamond appears,at open/during PA/close of candle.Thanks.
If you dont stand for something,you 'll fall for anything.
  • #975
  • Apr 16, 2013 5:07am Apr 16, 2013 5:07am
Oh yes one more thing, I'm working and trading is a part time for me would you mind to discuss strategy so I could get assimilated PTECZ with my trading style please If you would then next time I will post the strategy of my trading style assimilated with PTECZ and please make comment
  • #976
  • Edited 6:46am Apr 16, 2013 5:18am | Edited 6:46am
Quoting limprobable
Hello, I see nothing this morning on Eur/usd. No trade.
No oppurtunity yesterday in the morning but i did +20 pips in the afternoon.

This morning i am in green of +40 pips (put my SP on +25 pips)

So, i must thanks you again Dada's for your approach of PA that convinced me and open my eyes.

Edit: close trade +70 pips
Bottomless wonders spring from simple rules, which are repeated without end
  • #977
  • Apr 16, 2013 5:24am Apr 16, 2013 5:24am
Quoting finaclefx
The index dot appears as early as a new candle does,during the price action for a particular TF,say M15 the candle most times crosses the black dot and diamond(if any) downside,but the candle 'll eventually close above the the dot and diamond(if any).I'm kind of confuse here,please share more light.
The Index dot will show under the Closed Candle in the distance in Points from Low Price.
On the current Candle we do not have a final Low Price.
But, the Index of the current Candle = 0.
It does not make any difference where the Index dot is.
It looks nice and orderly when at Low Price of Candle.
Otherwise, it looks strange and out of order.

The diamond is another thing.
If you set the PTECZ_Candle_ArrowOffset value of the diamond to the same value as the dot,
you will not see the dot. The diamond also shows the Index. Just find the same distance.

In the latest version the diamond does not show on the current Candle.
And the dot doesn't, either.
Maybe you do not have the latest version?
You must have missed some update.


Quoting finaclefx
Also,each time the diamond appears under a candle its most likely that candle is going to be the opposite of the previous one,correct?.That brings me to asking when does diamond appears,at open/during PA/close of candle.Thanks.
Well, have you understood, already what the PTECZ is?
Or are you still wandering in the clouds?

I do not understand the question.
I think you should get the latest version.
Trade the facts, not opinions.
  • #978
  • Apr 16, 2013 6:51am Apr 16, 2013 6:51am
Quoting zarach
Oh yes one more thing, I'm working and trading is a part time for me would you mind to discuss strategy so I could get assimilated PTECZ with my trading style please If you would then next time I will post the strategy of my trading style assimilated with PTECZ and please make comment
Really, zarach, how can I comment?

I do not know many things about your trading prefferences.

You must build your own strategy based on the amount of time you can spend
on analysis and trading. If you want to watch the trade or leave SL & TP, then
just see the results? There are many factors to consider.
Intraday? Long Term?
When you do not have much time for DT, maybe Intraday is the solution?

Analysis, enter, go to bed, wake up, go to work.
Come back from work, have dinner, then look at your results,
make analysis, enter for next day.

Never check your results before going to work!
Never check your results before enjoying your dinner!
Trade the facts, not opinions.
  • #979
  • Apr 16, 2013 6:54am Apr 16, 2013 6:54am
Quoting limprobable
No oppurtunity yesterday in the morning but i did +20 pips in the afternoon. This morning i am in green of +40 pips (put my SP on +25 pips) So, i must thanks you again Dada's for your approach of PA that convinced me and open my eyes. Edit: close trade +70 pips


Hope you will post the chart.
Trade the facts, not opinions.
  • #980
  • Edited 7:46am Apr 16, 2013 7:02am | Edited 7:46am
Yes you're right maybe rather than that I would like to ask you if you wouldn't mind for the next analysis I post to point me which I gone wrong like you used to be, since I'm really new with price action, I'm mainly use price distribution for analysis and it require me only one time frame to watch the overall picture so I still need to practice watching multiple time frame to get used to it One more if you wouldn't mind I would like to ask this monthly and weekly as global. Between daily and H4 which is you used the most for identifiying tendency for your day trading strategy?




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