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Price Action in Day Trading by Dadas

  • #1,061
  • Apr 17, 2013 4:53pm Apr 17, 2013 4:53pm
Quoting stevepatt
Hi Dadas, Thanks for your help, it's a matter of selecting the correct PTECZ on the higher TFs and then waiting for PA at these levels I like to trade inside candles and engulfing candles not to mention pin bars. I will also be keeping an eye on intraday setups for when I have more time to dedicate to trading. The EUR/USD setup, I posted earlier, I had all the levels marked but wasn't around to trade it when the PA occurred which is very frustrating. If I have time I will post more setups when I see them.
Trend, Low PTECZ, High PTECZ.
Help yourself with the Yearly Zone Candle.

Get over the frustration issue!

The Market will not run out of Pip suppply!
Trade the facts, not opinions.
  • #1,062
  • Apr 17, 2013 4:58pm Apr 17, 2013 4:58pm
Quoting Bookman
Thanks, now I am seeing what you're saying. One more question, do you put your SL above the candle that touched the 5min PTECZ or above the top of the 5 minute PTECZ? {image}
I can not answer this question.

It is up to you to decide.

It is best to practise on demo,
see how you are able to Enter the market in real time,
then adjust the SL level to what you can do.

In real time it is not so easy, and you may SL too often from too tight SL.
Trade the facts, not opinions.
  • #1,063
  • Apr 17, 2013 4:59pm Apr 17, 2013 4:59pm
Quoting Bookman
I still would like to know if it is possible to enter off of the blue PTECZ. ejiexe or dadas please let me know. http://www.forexfactory.com/attachme...3&d=1366209881
I would have love to explain from Daily down to 15min how I took the trade but Master said you cannot take example from me and I should also leave the answer part for him. So I won't go against his wish. I also hope you remember I am newbies. I am learning seriously to be making pips as well like Master.

This is just to tell you that there is no trade I post here that I did'nt follow simple rule. There are not of information here in this thread that people are not using again and may be because the Master himself is not referring to them anymore. However, I am using them to my advantage. CSCZ and TBCZ are also elements in this thread.

Not that I ask stupid questions but for people to think and see how they could have done it.

Attention to details is the key. There are several way individual can see chart. In live trading, everyone here cannot see chart the same way.
While I wanted to take short on gold to previous day close for over 200 pips, someone told me that the trend was up and I was force to close small small pips and eventually my target was hit. Attache is the chart. This is to tell you that if samples of chart is shown 1000000 millions times, we cannot see it same way.

PTECZ is very important irrespective of the time frame so long you work from top to down.

Pip shown EU daily chart today for dadas to comments and I took advantage of that chart to make nice pips.

Also remember I was posting my trade live before it even move to TP but I was caution not to do that again. I will still be posting my chart as requested by Dadas himself.

Quoting Dadas
Yes, so, does it mean that that price must retrace to the PTECZ, because you want it to? That, only ejiexe knows. He is a fan, but not a good follower! I have no idea how he traded that one. I suppose he reacted on emotion and nothing else. ejiexe is not the person you should take example from!
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,064
  • Apr 17, 2013 5:16pm Apr 17, 2013 5:16pm
Quoting ejiexe
I would have love to explain from Daily down to 15min how I took the trade but Master said you cannot take example from me and I should also leave the answer part for him.
ejiexe

I would love to see one of your from top down analysis, here.

At least, I could comment and see that you can be an example!

I have no problem about TBCZ and CSCZ, that is the Zone Candle, too.

But, please show your analysis!

On your chart we do not see what is what and why?

So, when can I see your analysis and say that ejiexe can be example?
Trade the facts, not opinions.
  • #1,065
  • Apr 17, 2013 5:21pm Apr 17, 2013 5:21pm
Quoting Dadas
ejiexe I would love to see one of your from top down analysis, here. At least, I could comment and see that you can be an example! I have no problem about TBCZ and CSCZ, that is the Zone Candle, too. But, please show your analysis! On your chart we do not see what is what and why? So, when can I see your analysis and say that ejiexe can be example?
For clearity I will show how I traded the EU I took at NY. I took it earlier at London which I close before NY. I was still looking for more short so I waited for the setup and the right time.

1H chart is the setup (Attached)

15min is the entry. I don't go below 15min for entry.

Even at confirmation candle, experience trade no what to do.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 68 KB
Click to Enlarge Name: eurusdm15.png Size: 58 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,066
  • Apr 17, 2013 5:34pm Apr 17, 2013 5:34pm
Quoting Dadas
@finaclefx You got lucky today - Congratulations! But, it was just a lucky shot, which hit the target! See, the PTECZ knew: EURUSD {image} {image}
Yes Dadas,thanks! But I'm a bit scared when you said i got lucky to have made the trades,does that mean narrow escape because that is my interpretation of getting lucky at things.Does it mean even if i see that any other time isnt going to be favorable,what are the dangers of trading retraces?thanks!
If you dont stand for something,you 'll fall for anything.
  • #1,067
  • Apr 17, 2013 6:03pm Apr 17, 2013 6:03pm
Is this one good? I think I found a 1 hour ptecz that never got an entry signal , but 15 min and 5 min entry ptecz's inside.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 46 KB
Click to Enlarge Name: eurusdm15.png Size: 28 KB
Click to Enlarge Name: eurusdm5.png Size: 29 KB
  • #1,068
  • Apr 17, 2013 9:18pm Apr 17, 2013 9:18pm
What a nice picture on Silver I wish the price will finally break down a current zone! Well, just forgot to mention - and retest it
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 11 KB
  • #1,069
  • Apr 17, 2013 10:10pm Apr 17, 2013 10:10pm
@stevepatt how can i get my charts to look like yours? so clean and nice scheme
  • #1,070
  • Apr 18, 2013 1:15am Apr 18, 2013 1:15am
Quoting phi1ipp
What a nice picture on Silver I wish the price will finally break down a current zone! Well, just forgot to mention - and retest it {image}
Nice clue again man. Keep it coming I Love ya. Unfortunately I don't trade silver. I will be looking forward to see such everyday
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,071
  • Apr 18, 2013 2:24am Apr 18, 2013 2:24am
Quoting ejiexe
For clearity I will show how I traded the EU I took at NY. I took it earlier at London which I close before NY. I was still looking for more short so I waited for the setup and the right time. 1H chart is the setup (Attached) 15min is the entry. I don't go below 15min for entry. Even at confirmation candle, experience trade no what to do. {image} {image}
OK, good, this is the basic usage of the PTECZ!

But, it is not the full analysis!
Trade the facts, not opinions.
  • #1,072
  • Apr 18, 2013 2:33am Apr 18, 2013 2:33am
Quoting finaclefx
Yes Dadas,thanks! But I'm a bit scared when you said i got lucky to have made the trades,does that mean narrow escape because that is my interpretation of getting lucky at things.Does it mean even if i see that any other time isnt going to be favorable,what are the dangers of trading retraces?thanks!
You see, you do not need to be scared!

All you need is to know what you are doing!

You have noticed that, especially at the beginning
of the thread, I had to defend myself against some doubters and dissers!
I have to defend myself all the time, because new people arrive
and ask the same questions over and over.

You have to be able to defend your trade!
If you can defend your trade with PA analysis with the help of the
ideas presented in this thread - you win, you do not need to be scared!

You see, the workings of the Candlestick is the very foundation of Price Action,
CSCZ, Zone Candle, TBCZ and PTECZ.

What are the dangers of trading retraces? SL!

But, that is not so important.

The important thing is that You can defend Your trade!
Thus, You know what you are doing!
Trade the facts, not opinions.
  • #1,073
  • Apr 18, 2013 2:53am Apr 18, 2013 2:53am
Quoting Bookman
Is this one good? I think I found a 1 hour ptecz that never got an entry signal , but 15 min and 5 min entry ptecz's inside. {image} {image} {image}
So, you say you found a PTECZ on EURUSD H1.
Yes, but you did not plot it correctly.
The Blue PTECZ is H4, the Brown PTECZ is H1.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-fxsalt-ltd-2.png Size: 63 KB


The rest of your idea is correct.

But, tell me something?
Can't you really see the General Trend on the H1?
Can't you see it is Bullish?
Can't you see the strong, long Bullish Candles?

Wouldn't it be wiser to look for Long Entries at bottoms?

Look closely, can't you see the retraces to the PTECZ on H1?

When I and other PA, S/D followers say wait for retrace to the Zone, that is what we mean!
Trade the facts, not opinions.
  • #1,074
  • Apr 18, 2013 2:59am Apr 18, 2013 2:59am
Quoting msetai
@stevepatt how can i get my charts to look like yours? so clean and nice scheme
If you mean the colors, there is a template file in the early posts, page1 or 2.

If you mean the PTECZs, just don't get wild!

Find the ones that count for the situation!
Trade the facts, not opinions.
  • #1,075
  • Apr 18, 2013 3:07am Apr 18, 2013 3:07am
Quoting phi1ipp
What a nice picture on Silver I wish the price will finally break down a current zone! Well, just forgot to mention - and retest it {image}
Well, phi1ipp, I have not been following Silver, but if it goes like GOLD,
I wouldn't expect further drop.
Attached Image (click to enlarge)
Click to Enlarge Name: xagusd-h4-fxsalt-ltd.png Size: 55 KB

See the H4 Break Candle or Trend Candle?
That is the Demand Zone.
Trade the facts, not opinions.
  • #1,076
  • Apr 18, 2013 3:12am Apr 18, 2013 3:12am
Quoting Dadas
OK, good, this is the basic usage of the PTECZ! But, it is not the full analysis!
phi1ipp shown the full analysis and you also discussed it few pages back so what full analysis do you want again?

You thought us basic and complex. You also advise keep it simple.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,077
  • Apr 18, 2013 3:17am Apr 18, 2013 3:17am
Quoting ejiexe
phi1ipp shown the full analysis and you also discussed it few pages back so what full analysis do you want again? You thought us basic and complex. You also advise keep it simple.
You like other people to do the work for you, don't you?

Be cool and easy, let the succers do the hard work.

You, just tap in and take the juice, right?
Trade the facts, not opinions.
  • #1,078
  • Apr 18, 2013 4:37am Apr 18, 2013 4:37am
@ejiexe

GOLD
Like I said, the trend is UP.
There was a Big Spike Down, yes, but that is how this works.

You see the Demand Zone, You go Long, they take your SL,
then they go UP - you end up frustrated!

Yesterday you were dissappointed why somebody told you it was going up.

Today, you see why!

You must be smarter than GOLD, if you want to take the Big Pips,
not just the leftovers from the Riches' Tables.
Trade the facts, not opinions.
  • #1,079
  • Apr 18, 2013 5:11am Apr 18, 2013 5:11am
For zarach:

Zone Candle D1 trading strategy

Let's suppose we are at historical D1 Candle Index 134.
The Day is just about to close.
I find the corresponding D1 historical candle Index 162.
I plot this Zone Candle with Custom_Zone_Candle_with_Index.mq4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-d1-fxsalt-ltd-2.png Size: 56 KB

The idea is to Enter at the beginning of the just opened D1.
Then, go to bed, go to work, whatever, and come back for the results
at the end of the D1 Candle, and decide if Exit or Stay.

It is a good idea to mark the Start of Day Line with the vertical line tool.
In picture I marked Day Beginning, End and the next Day End for clear picture.
Switch to M30, M15, or even M5 for precise Entry.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-h1-fxsalt-ltd.png Size: 57 KB


You can use the D1 and H4 PTECZ to find Potential TP levels:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy-d1-fxsalt-ltd.png Size: 56 KB

Or, set TP by Daily Range indications.
Or, set TP by time, ie. at D1 Close.
Or, come back, see the situation and decide.

Of course, you are after the Daily Ranges, so SL should be according to R/R.
Trade the facts, not opinions.
  • #1,080
  • Apr 18, 2013 6:21am Apr 18, 2013 6:21am
@phi1ipp

SILVER

You found an MN PTECZ - OK.
However, the problem here is that there is no historical Bearish Trend at the present Price Level.
Your PTECZ is from the Bullish Trend, so it is not a good representative for the Bearish Trend.

Another problem is that there was a Gap, at least on my chart.
The only historical Candle we can relate to, is the Bullish Candle.
Attached Image (click to enlarge)
Click to Enlarge Name: xagusd-mn1-fxsalt-ltd-2.png Size: 58 KB


We also see the Yearly Zone Candle.
Price has Broken Down the Yearly Zone Candle.

Following a very Long Term Logic and PTECZ principles,
we should expect a retrace to the YZC. Then, Down.
Trade the facts, not opinions.
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