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Price Action in Day Trading by Dadas

  • #1,181
  • Apr 20, 2013 7:44am Apr 20, 2013 7:44am
Quoting markup
Fair enough. I'm sorry for my harsh tone in my last post but its only coming from the fact that i don't tolerate bold claims when they are not entirely true. I've learnt to question everything hence the nature of my posts here. From now on i'll stop being a pain in a** here... Promise
Thank You!
Trade the facts, not opinions.
  • #1,182
  • Apr 20, 2013 8:13am Apr 20, 2013 8:13am
Quoting Dadas
If Pipanje decided to go Long, the Base PTECZs would be H1 Candle_Index 52 & 48. Because that is where the Bearish Trend Ended. Then we have the H1 Candle_Index 102 & 28 PTECZs which overlap, but Price has already bounced of those PTECZs. The next Stop on Bullish Trend is at H1 Candle_Index 78..........

Dadas, thank you so much for your explanation. It really nice to have a "case report discussion" like this. So, thanks again.
Pursue the best and share to others!
  • #1,183
  • Apr 20, 2013 8:34am Apr 20, 2013 8:34am
@Bookman
I do not know how the Market will open, but
since my platform runs 1 hour longer that most other
platforms, there is good lookings for your TP on EURUSD:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm30_003.png Size: 69 KB
Trade the facts, not opinions.
  • #1,184
  • Apr 20, 2013 8:37am Apr 20, 2013 8:37am
Quoting kawangkoan
Dadas, thank you so much for your explanation. It really nice to have a "case report discussion" like this. So, thanks again.
Right, just supply the cases!

I will supply the reports!
Trade the facts, not opinions.
  • #1,185
  • Edited 9:32am Apr 20, 2013 9:21am | Edited 9:32am
http://charts.mql5.com/1/377/gbpusd-...g-point-of.png

just my first set up on gbp/usd

with help of this one I will go short after any 30m candle is open and close out side of 1.5216 area. with stop loss above 1.5216 depend on lot size.or
will go long after any 30M candle open and close out side above 1.5234 area with stop loss bellow 1.5234 still depend on lot size.
why I am not sour that it is long trade after green M-30 PTECZ, simply bcz we don't know what price want to do. is it consolidation phase, revers up ward or contained down side. what we know that this is the area where a trade set up is exist. my 2c only
don't predict direction, but dance with flow of water
  • #1,186
  • Apr 20, 2013 10:35am Apr 20, 2013 10:35am
Quoting Dadas
The only thing you are struggling with, stevepatt, is your own self. The point to start is when you want the Trades to take place. Your local time for Entering the Market? Your local time for Exiting the Market? During which sessions the Trade will be open? If, as I assume from your earlier posts, the Trade will stay overnight, ie. 8-10 hours, then, you need the Average Range for this period of time to estimate if the PTECZ Stop levels fit in. And, you need the H4 PTECZ context, not wider. The Weekly PTECZ levels are extra information for extreme...
Hi Dadas,

Thanks for the feed back much appreciated.

The length of time I have trades open depends on how the market moves, some trades I have taken have been running for up to three weeks, taking profits as it moves.

I'm looking for good monthly and weekly swing points, that are also PTECZs, because this shows good supply and demand and they usually remain active well into the future, this gives a good starting point to start looking for PA setups. I think the major swing levels are more reliable than taking PTECZs that appear after a minor pull back; this was the mistake I made yesterday, with the GBP/USD trade, I was trading from a weak W1 PTECZ. As you pointed out the setup, I was trading, was good for intraday trading but no more.

I will be looking for logical TP levels using PTECZ from Monthly,Weekly and Daily charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th Apr 13 GBP:USD M1 Chart.png Size: 95 KB
Click to Enlarge Name: 20th Apr 13 GBP:USD W1 Chart.png Size: 148 KB
Click to Enlarge Name: 20th Apr 13 GBP:USD D1 Chart.png Size: 91 KB
  • #1,187
  • Apr 20, 2013 10:45am Apr 20, 2013 10:45am
Steve,

but isn't the weekly trend down? Why did you take a long position?
Attached Image (click to enlarge)
Click to Enlarge Name: 20th Apr 13 GBP-USD W1 Chart.png Size: 143 KB
  • #1,188
  • Apr 20, 2013 10:45am Apr 20, 2013 10:45am
Quoting stevepatt
Hi Dadas, Thanks for the feed back much appreciated. The length of time I have trades open depends on how the market moves, some trades I have taken have been running for up to three weeks, taking profits as it moves. I'm looking for good monthly and weekly swing points, that are also PTECZs, because this shows good supply and demand and they usually remain active well into the future, this gives a good starting point to start looking for PA setups. I think the major swing levels are more reliable than taking PTECZs that appear after a minor pull...
Yes, that is correct!

You must find your context!
You are looking for a larger contex!

Did you also try the Yearly Zone Candle in Multi_Zone_Candle_OHLC_Lines.mq4?
Trade the facts, not opinions.
  • #1,189
  • Apr 20, 2013 10:54am Apr 20, 2013 10:54am
@stevepatt

GBPUSD MN with Yearly Zone Candle:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-mn1-fxsalt-ltd.png Size: 74 KB

Suggests a possible Bearish Long Term Trend upon retrace to Yearly ZC.

W1:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-w1-fxsalt-ltd.png Size: 77 KB

You have got yourself a 700 Pips quest.
Trade the facts, not opinions.
  • #1,190
  • Apr 20, 2013 11:17am Apr 20, 2013 11:17am
Quoting phi1ipp
Steve, but isn't the weekly trend down? Why did you take a long position? {image}
Hi Phi1ipp,

Check my post 1143 on page 77 for reasons for taking the trade. It would have been ok as an intraday trade using the H4 chart for entry and setting SL and TP but i was aiming for too big a TP.
  • #1,191
  • Apr 20, 2013 11:18am Apr 20, 2013 11:18am
Quoting Dadas
@stevepatt GBPUSD MN with Yearly Zone Candle: {image} Suggests a possible Bearish Long Term Trend upon retrace to Yearly ZC. W1: {image} You have got yourself a 700 Pips quest.
I'll be watching it along with about nine other pairs.
  • #1,192
  • Apr 20, 2013 11:22am Apr 20, 2013 11:22am
Quoting markup
Thats rather harsh statement , dont you think? I can totally see a reason to go long there and your claim about him being lucky just becouse you did not see it coming is disrespectfull and plain rude. Only becouse you had your PTECZ in different way doesnt make anybody wrong. Your "teachings" are rather ambigious and leave a lot of space for personal interpretation so you should keep in mind the fact that some thread participants might do it their way.
Thank you mark up. I think too dadas is a rude teacher, with all due respect.
I entered long from 5 min chart when price broke up of PTECZ. Now dadas may think that this is not PTECZ, but I have my own interpretation of dadas PTECZ and what I do with them.
If he does not like it, that is fair enough, his thread, maybe he would like me to trade like him, but I am not him. But his words (or something similiar) in the thread were"....I give you this tool, it is up to you what do you do with it, please post trades, I want to see different interpretations of it..."
Also, I never said PTECZ don't work, but dadas is constantly claiming I did. Don't know why.
On contrary, I openly said I find PTECZ very useful to my trading style, and my failed trade was because I did not see PTECZ.

Now, dadas does not know my risk, my trading tf, my trading style, but he did jump to conclude:

Conclusion:
Pipanje is still shooting blindfolded. - not true (reasoning for entering trade explained above)
He is making decisions upon the the current unclosed Candle. - not true (which current unclosed Candle?1M,5M,15M?)
He is acting against every PTECZ principle I teach in this thread. not every but maybe and possibly many of them

The only thing Pipanje is doing right is going with the current Trend. (which trend? 1M,5M,15M Daily,etc.....?)but thank you dadas, so no shooting blindfolded after all.

Dadas, thank you for a lot of information you put here in this thread, but generally if you want to teach, you can not contradict yourself, it will not make your teachings credible.You also made assumptions without asking all the details about my trade. You know, that making assumptions in FX is the most dangerous thing you can do.
Also, it would be helpful if you'd be less rude.
Now, if you don't want me to post my trades, as you think that they are different from what you teach, please say so, I won't post. I'm cool with that.
It would be also nice if you could post one of your trades that failed.

For others, I wrote all this to say that there are many ways to trade PTECZ which is a good tool (here that dadas) , but you have to find the one way that suits your personality. Dadas may not like it, but your account will speak for itself.
have a good weekend
  • #1,193
  • Apr 20, 2013 11:37am Apr 20, 2013 11:37am
Quoting stevepatt
Hi Phi1ipp, Check my post 1143 on page 77 for reasons for taking the trade. It would have been ok as an intraday trade using the H4 chart for entry and setting SL and TP but i was aiming for too big a TP.
Steve, please don't feel offended, but I still don't understand your logic. If you are a long term trader who is playing on weekly and taking positions off a daily chart then you should align your position with a prevailing trend, shouldn't you?

If you thought that weekly was downtrending why didn't you look for a possibility to go short? Or did you think (as I very often can't understand what a trend is at the moment) the trend was bullish?
  • #1,194
  • Apr 20, 2013 11:56am Apr 20, 2013 11:56am
hi dadas and all

here is my analysis.. kindly correct if there is any mistake made..

1) eur/usd weekly timeframe
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd w1.PNG Size: 62 KB

im looking for buying potential if there is a breakup from the current weekly ptez and selling potential if there is a breakdown from the current ptecz

2) eur/usd daily timeframe
Attached Image (click to enlarge)
Click to Enlarge Name: daily.PNG Size: 68 KB

on daily time frame there is another possible ptecz on both side up and down. if breakout occur from the weekly ptecz this can be consider as the potential target on daily.. if price manage to trending and break the daily ptecz than i will be using the weekly ptecz as the next target..

3) eur/usd hour 4
Attached Image (click to enlarge)
Click to Enlarge Name: hour 4.PNG Size: 57 KB

on the 4 hours time frame the is another ptecz that i use.. im trading the 4 hour timeframe and this is the lowest ptecz timeframe that i will be use as my guide.

kindly advice my analysis for eur/usd hopefully i doing it the right way..
  • #1,195
  • Apr 20, 2013 12:34pm Apr 20, 2013 12:34pm
Quoting Pipanje
Thank you mark up. I think too dadas is a rude teacher, with all due respect. I entered long from 5 min chart when price broke up of PTECZ. Now dadas may think that this is not PTECZ, but I have my own interpretation of dadas PTECZ and what I do with them. If he does not like it, that is fair enough, his thread, maybe he would like me to trade like him, but I am not him. But his words (or something similiar) in the thread were"....I give you this tool, it is up to you what do you do with it, please post trades, I want to see different interpretations...
You forgot to qoute: "It looks like ..."

My only intent was to help, not to disturb.

I use every case to point out what would be the way to avoid SL,
what would be the way to maximise your profit!

If you do not want it, OK.
Your choice!

I am not really teaching, it is a joke!

I am showing! I am commenting! I am doing a case study!

Guys, Forex is the tough world.

It is not for sissies who feel abused because somebody said something!

It is your Ego, nothing else.

I like each one of you in the same way!

I want you to post your charts and trades as long as they do not break the rules in this thread!

Let's skip the emotional part.

Lay it on me, I do not care!

It is not my problem!

If I have a problem, it is not your problem, Guys!

Just take the good stuff, skip the Ego part! OK?
Trade the facts, not opinions.
  • #1,196
  • Apr 20, 2013 12:53pm Apr 20, 2013 12:53pm
Quoting Pipanje
It would be also nice if you could post one of your trades that failed.
I am sorry, I can not do this!
Not because I do not have trades that failed.

Because I do not have any trades that failed
which were made according to the PTECZ way,
without my Ego insisting on what was not there!

My failure trades were when I wanted to see what was not there on the chart.
My failure trades were when I reacted emotionally and opened Longs at the top of
Bullish Candles, and Shorts at bottoms of Bearish Candles.
My failure trades were when I was influenced by false advisors who,
either told me to Hold, or told me to Close.
My failure trades were when I did not make my analysis in the correct way,
from top to bottom, thus I did not keep the principles I present, herein.

If I get a failure trade which was made by PTECZ rules which I present in this thread
and which included all the analysis elements, yet SLed, I will show it to you.

So far, I do not have one like that.
Trade the facts, not opinions.
  • #1,197
  • Apr 20, 2013 1:37pm Apr 20, 2013 1:37pm
Quoting scarcity
hi dadas and all here is my analysis.. kindly correct if there is any mistake made.. 1) eur/usd weekly timeframe im looking for buying potential if there is a breakup from the current weekly ptez and selling potential if there is a breakdown from the current ptecz.
Yes, the lower PTECZ is a good base PTECZ confirmed by PA.
The upper PTECZ is all right, too for the Weekly context.
The middle PTECZ - has it already Closed?
Mine has not, and we do not know how it will Close?

Quoting scarcity
2) eur/usd daily timeframe on daily time frame there is another possible ptecz on both side up and down. if breakout occur from the weekly ptecz this can be consider as the potential target on daily.. if price manage to trending and break the daily ptecz than i will be using the weekly ptecz as the next target..
The upper D1 PTECZ looks good.
The lower D1 PTECZ is good too, but just see another PTECZ on the right at the same level.
On the last Bearish Trend. It is wider, better plot this one.

3) eur/usd hour 4 {image} on the 4 hours time frame the is another ptecz that i use.. im trading the 4 hour timeframe and this is the lowest ptecz timeframe that i will be use as my guide. kindly advice my analysis for eur/usd hopefully i doing it the right way..[/quote]
Now, I think I get your idea.
But the upper H4 PTECZ is third Candle from begining, meaning Index 2.

Great job!
Trade the facts, not opinions.
  • #1,198
  • Apr 20, 2013 1:39pm Apr 20, 2013 1:39pm
there is some issue with week end daily candle. when Friday trading close the indicator did not up date because next trading day is still not start. so indicator shows one day back date in today case it is shown 18/4/13 and if any one use daily set up he/she must keep in mind that Friday date is not up date in indicator so it is batter to plan next week trading on monody when all issue resolved. though 4h.1h is ok.
regards.
don't predict direction, but dance with flow of water
  • #1,199
  • Apr 20, 2013 1:57pm Apr 20, 2013 1:57pm
Quoting Dadas
Yes, the lower PTECZ is a good base PTECZ confirmed by PA. The upper PTECZ is all right, too for the Weekly context. The middle PTECZ - has it already Closed? Mine has not, and we do not know how it will Close?
yup its my bad. you are correct since its does not yet close. need to confirm it back on monday morning.

Quoting Dadas
The upper D1 PTECZ looks good. The lower D1 PTECZ is good too, but just see another PTECZ on the right at the same level. On the last Bearish Trend. It is wider, better plot this one.
change to the ptecz you suggested

Quoting Dadas
Now, I think I get your idea. But the upper H4 PTECZ is third Candle from begining, meaning Index 2. Great job!
since there is only 3 thing can be happened in ptecz 1) continue consolidation 2) breakup 3)breakdown post from page 70 onwards do help me a lot to understand the ptecz methodology. been reading the whole thread for a few times and deffinitely will read it again from the beginning for better understanding the methodology. thanks dadas
  • #1,200
  • Apr 20, 2013 1:58pm Apr 20, 2013 1:58pm
scarcity case shows an interesting issue which I must show you.
My charts show a different picture.
Where scarcity sees 2 options, my charts show 1 option:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-w1-fxsalt-ltd-2.png Size: 85 KB

I have a W1 PTECZ from which the Price has already Broken Up, thus there is only 1 direction.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-fxsalt-ltd.png Size: 72 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h4-fxsalt-ltd-2.png Size: 77 KB

And both pictures are valid!
Scarcity can trade inside the W1 PTECZ.
I can trade outside the W1 PTECZ.

Scarcity has H4 PTECZs to show the direction now.
My H4 PTECZs in combination with Daily Ranges seem to identify the Stops, already.
Trade the facts, not opinions.
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