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Price Action in Day Trading by Dadas

  • #981
  • Apr 16, 2013 7:35am Apr 16, 2013 7:35am
Quoting zarach
Yes you are right maybe rather than that would you mind to discuss some kind of set of rules for strategy entry and exit with PTECZ to maximize the probability or the safest way with not too much exposed to the market. If you agree I would start writing about it and ask for your comment. how is it?
Everything is already in this thread.

You want me to repeat, again?

If you want to present your strategy, your set of rules for Entry/Exit, you can.

As long as it is in accord with this method!
Trade the facts, not opinions.
  • #982
  • Edited 8:22am Apr 16, 2013 7:59am | Edited 8:22am
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  • #983
  • Apr 16, 2013 8:10am Apr 16, 2013 8:10am
Quoting zarach
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?
I use all.

Quick look at MN, W1.
Closer look at D1, H4.
Then H1, M30, M15, M5.

A lot of shifting.

You never know where the signal may be!
Trade the facts, not opinions.
  • #984
  • Apr 16, 2013 8:12am Apr 16, 2013 8:12am
Hi Dadas,
would you please give your comment on my trading below:

On daily chart, I noticed that there was a bullish trend. Also, I draw several daily and weekly PTECZ:
Attached Image (click to enlarge)
Click to Enlarge Name: ptecz160413_daily.png Size: 43 KB



I found a same bullish situation on H4:
Attached Image (click to enlarge)
Click to Enlarge Name: ptecz160413_h4.png Size: 47 KB


I found a breakout candle on M30:
Attached Image (click to enlarge)
Click to Enlarge Name: ptecz160413_m15.png Size: 40 KB


Looking forward your comment.

Thank you.
Pursue the best and share to others!
  • #985
  • Apr 16, 2013 8:20am Apr 16, 2013 8:20am
Quoting Dadas
I use all. Quick look at MN, W1. Closer look at D1, H4. Then H1, M30, M15, M5. A lot of shifting. You never know where the signal may be!
yes thank you for setting me in the right path again
since I always use PTECZ I forgot it stand for POTENTIAL TREND END CONSOLIDATION ZONE it means PA in that zone is important, today what I look only PTECZ forgot about PA in the zone, since PTECZ when there is no PA in it is a no entry, now I understand why you said I'm too much assuming hehehehe I'm sorry Dadas
  • #986
  • Edited 9:32am Apr 16, 2013 8:52am | Edited 9:32am
Quoting kawangkoan
Hi Dadas, would you please give your comment on my trading below: On daily chart, I noticed that there was a bullish trend. Also, I draw several daily and weekly PTECZ: {image} I found a same bullish situation on H4: {image} I found a breakout candle on M30: {image} Looking forward your comment. Thank you.
ZONK - You Lose!

And, it does not matter if the Price goes up or down later.

You have made the worst mistake of FX Traders!
Attached Image (click to enlarge)
Click to Enlarge Name: ptecz160413_m15.png Size: 41 KB


You entered Long at the Top!
You entered Long when the train was running, not at the Stop (PTECZ).

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-d1-fxsalt-ltd.png Size: 64 KB

Here just the D1 PTECZ for today.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-m30-fxsalt-ltd.png Size: 68 KB

Here, the Price action of M30 in the D1 Zones.

Look at Daily Range, it is full for today, and we do not know
if it is going higher, especially that the Zones apply.

There is no Stop, no PTECZ on M30, so I look higher.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-h1-fxsalt-ltd.png Size: 71 KB

The current H1 Candle may be a PTECZ, but it is not closed, so must wait!

Then, plot the PTECZ, watch PA and decide on the Entry.

For Day Trading from where I am sitting, this pair is untradeable.
Trade the facts, not opinions.
  • #987
  • Apr 16, 2013 9:09am Apr 16, 2013 9:09am
Here, we have an example of a difficult PTECZ.
This type of PTECZ the indicator can not show.
It is where you must be flexible and recognise PTECZ yourself!
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp-h1-fxsalt-ltd.png Size: 69 KB
Trade the facts, not opinions.
  • #988
  • Apr 16, 2013 9:12am Apr 16, 2013 9:12am
Quoting zarach
yes thank you for setting me in the right path again since I always use PTECZ I forgot it stand for POTENTIAL TREND END CONSOLIDATION ZONE it means PA in that zone is important, today what I look only PTECZ forgot about PA in the zone, since PTECZ when there is no PA in it is a no entry, now I understand why you said I'm too much assuming hehehehe I'm sorry Dadas
Yes, I am glad that you got it!
Trade the facts, not opinions.
  • #989
  • Apr 16, 2013 10:13am Apr 16, 2013 10:13am
Quoting Dadas
Here, we have an example of a difficult PTECZ. This type of PTECZ the indicator can not show. It is where you must be flexible and recognise PTECZ yourself! {image}
Whichh indicator draw the PTECZ
  • #990
  • Edited 11:18am Apr 16, 2013 11:08am | Edited 11:18am
Dadas I realize something again when I reread the thread would you mind give your suggestion please

PTECZ = POTENTIAL TREND END CONSOLIDATION ZONE
The analogy is if we want to ride a train we wait at station not jump in a running train right,,
because it is safer (I know little kid know too)

When I used price distribution I usually wait for price playing inside flat bollinger band something like this:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym30.png Size: 54 KB


I only entry position when price inside the bollinger band sell at the upper and buy at the lower, why I used flat bolinger band is because when price inside the bolinger band means price is consolidating so I could use the bolinger band border for identifying support and resistance of that consolidation area (in bolinger band of course), which mean I know the probability is good if I buy at lower and sell at upper considering the trend I could put my SL tight and the risk reward ratio is good if the target is the upper for buy and the lower for sell.

Here is the strategy in PTECZ (zone candle concept):
The best to apply this method is when the PTECZ zone candle range minimum 50 pips so there is quite a lot room to identify the PA and to make profit from it (for me of course).

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily.png Size: 33 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 31 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym302.png Size: 28 KB


what I trying to say is rather than trailing from PTECZ to PTECZ maybe I entry at the low and high of the PTECZ (of course PA come first) by this strategy I can comfortly put my SL tight since the high and low border of PTECZ it self play the role as SR, I can put my TP at the top or bottom of PTECZ (depend on situation/considering another nearest PTECZ) or trail it with smaller time frame, since we dont know if price will continue/retrace/consolidate why don't I trade inside it which have bigger probability of SR , what do you think of it?is it safe?
  • #991
  • Apr 16, 2013 11:12am Apr 16, 2013 11:12am
Quoting pret
Whichh indicator draw the PTECZ
Custom_Zone_Candle_with_Index.mq4

Function Show_PTECZ_Candle = true indicates the PTECZ Candles with small diamond under Candle.
Reading Candle_Index we can draw the PTECZ with the Show_Zone_Candle = true.
Of course, by inputting the chart Tf in Custom_Zone_Candle_Tf.
And, after plotting the PTECZ, Pause_Custom_Zone_Candle = true.
Trade the facts, not opinions.
  • #992
  • Apr 16, 2013 11:22am Apr 16, 2013 11:22am
Quoting zarach
Dadas I realize something again when I reread the thread would you mind give your suggestion please PTECZ = POTENTIAL TREND END CONSOLIDATION ZONE The analogy is if we want to ride a train we wait at station not jump in a running train right,, because it is safer (I know little kid now too) When I used price distribution I usually wait for price playing inside flat bollinger band something like this: {image} I only entry position when price inside the bollinger band sell at the upper and buy at the lower, why I used flat bolinger band is because...
zarach,
What is best for you is Best for You!
Of course you can do it this way!

That is the idea of the Zone Candle!
The Zone Candle can be used to plot any Candle, or the PTECZ Candle, specifically.

Sure, you can trade Inside a Larger Tf PTECZ, or Outside smaller Tf PTECZs.

You must experiment and find which is best for you!
Trade the facts, not opinions.
  • #993
  • Apr 16, 2013 11:32am Apr 16, 2013 11:32am
Quick 84 Pips on GOLD:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-m5-fxsalt-ltd.png Size: 61 KB
Trade the facts, not opinions.
  • #994
  • Apr 16, 2013 12:49pm Apr 16, 2013 12:49pm
Quoting Dadas
Quick 84 Pips on GOLD: {image}
Quick 100 pips but close eventually 45 pips.

and quick 80 pips

Both long Trade Trading around PTECZ
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm15.png Size: 28 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #995
  • Edited 1:07pm Apr 16, 2013 12:55pm | Edited 1:07pm
Quoting ejiexe
Quick 100 pips but close eventually 45 pips. and quick 80 pips Both long Trade Trading around PTECZ {image}
That is scalping the retrace, what you are showing.

It is a way to make use of the PTECZ,
but certainly not what I am teaching, here!

Well, the result is what counts!

PS.
As you see on chart, now, the reward was bigger!
Trade the facts, not opinions.
  • #996
  • Apr 16, 2013 1:20pm Apr 16, 2013 1:20pm
Quoting Dadas
That is scalping the retrace, what you are showing. It is a way to make use of the PTECZ, but certainly not what I am teaching, here! Well, the result is what counts! PS. As you see on chart, now, the reward was bigger!

Basically I drew my PTECZ on 4hrs and I was playing the range.

I think the whole idea is to know how to identify PTECZ and know how to play around it.

Is this 4hr PTECZ marked correct?
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 24 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #997
  • Apr 16, 2013 1:23pm Apr 16, 2013 1:23pm
In case someone is wondering what is the difference between my Short on GOLD and ejiexe Longs:
Attached Image (click to enlarge)
Click to Enlarge Name: xauusd-h1-fxsalt-ltd-2.png Size: 52 KB

I traded the H1 PTECZs with full awareness where to stop.
I made this trade of the H1 chart, only.
I went with the Big Trend, not against!
Trade the facts, not opinions.
  • #998
  • Apr 16, 2013 1:29pm Apr 16, 2013 1:29pm
Quoting ejiexe
Basically I drew my PTECZ on 4hrs and I was playing the range. I think the whole idea is to know how to identify PTECZ and know how to play around it. Is this 4hr PTECZ marked correct? {image}
The lower is not a PTECZ, that is why I looked on H1.
On H1 you have nice PTECZs, just where they are supposed to be!
And, do you see the Red Break Down and Trend Down in the upper PTECZ?

PS.
You saw the Trend Down even in your H4 PTECZ, you drew a short line!
Why did you go against?
Trade the facts, not opinions.
  • #999
  • Apr 16, 2013 1:47pm Apr 16, 2013 1:47pm
Quoting Dadas
The lower is not a PTECZ, that is why I looked on H1. On H1 you have nice PTECZs, just where they are supposed to be! And, do you see the Red Break Down and Trend Down in the upper PTECZ? PS. You saw the Trend Down even in your H4 PTECZ, you drew a short line! Why did you go against?
Can you pls show the recent PTECZ no 4hr chart
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,000
  • Apr 16, 2013 1:59pm Apr 16, 2013 1:59pm
You know what, Guys?

This is why I encourage you to exchange thoughts and ideas, here!

zarach has invented a totaly new PTECZ Trading strategy!

He turned it around! Instead of Break Out, he invented the Break In strategy!

I will show you:

EURJPY H4
Let's say we see a strong Bullish Trend, like today:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h4-fxsalt-ltd.png Size: 60 KB

We find a historical PTECZ that is 50+ Pips wide.
I found one that is 106 Pips wide.

Switch to M5:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-m5-fxsalt-ltd.png Size: 62 KB

When Price Breaks In with the H1 Break In Candle, Enter on that Candle Close.
Follow PA until upper PTECZ border - Resistance.

Exit where you feel it is enough!

Now, anybody wants to test this and post results?
Trade the facts, not opinions.
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