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Price Action in Day Trading by Dadas

  • #1,281
  • Apr 22, 2013 11:32am Apr 22, 2013 11:32am
@Red Herring,

Maybe you can see this better on M5 closeup.
Only, I did not use M5, I used only M30.
This comes with time and practise.
You see this on M30 Price Action in Action, somehow!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym5.png Size: 77 KB
Trade the facts, not opinions.
  • #1,282
  • Apr 22, 2013 11:43am Apr 22, 2013 11:43am
Quoting ejiexe
When there is no weekly then 4hr do the job. I do it all around PTECZ. I still show my trade to appreciate my Master. PTECZ is the KEY guys Edit: PTECZ on 4HRS and not 1hr as stated on the chart {image} {image} {image}
ejiexe,

Do not get too hot on your Short on GOLD.
You don't know GOLD, well.
W1 and H4 must be basis for GOLD.
I took +56 Pips Long today, on GOLD.
But, only because I had to do smth else and did not see the turn.
It was going +180 Pips, and I thought that everything is fine, and went to do smth.
I came back and had to Close quickly.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm15.png Size: 72 KB
Trade the facts, not opinions.
  • #1,283
  • Apr 22, 2013 11:58am Apr 22, 2013 11:58am
Our new friend, Luba, from Russia is going strong, today!
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm30.png Size: 74 KB
Trade the facts, not opinions.
  • #1,284
  • Apr 22, 2013 11:58am Apr 22, 2013 11:58am
Quoting Dadas
{quote} ejiexe, Do not get too hot on your Short on GOLD. You don't know GOLD, well. W1 and H4 must be basis for GOLD. I took +56 Pips Long today, on GOLD. But, only because I had to do smth else and did not see the turn. It was going +180 Pips, and I thought that everything is fine, and went to do smth. I came back and had to Close quickly. {image}

Thanks for the information. I will watch closely very closely. it seems it is turning again from the bottom of the PTECZ which i based my decision on.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,285
  • Apr 22, 2013 12:21pm Apr 22, 2013 12:21pm
Quoting ejiexe
{quote} Thanks for the information. I will watch closely very closely. it seems it is turning again from the bottom of the PTECZ which i based my decision on.
H4 PA still shows stronger Bulls.
I have an H4 PTECZ now - the Candle which closed and above is the H1 PTECZ
which Price bounced off. Situation is very unclear, now.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh4.png Size: 60 KB


On H1 I have 4 symmetrical PTECZs in the row.
Something is telling me, Long.
But, maybe wait for Break.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdh1.png Size: 64 KB
Trade the facts, not opinions.
  • #1,286
  • Apr 22, 2013 12:48pm Apr 22, 2013 12:48pm
Gold still looks like it might go higher but i choose to wait instead

The way in which price is raising doesn't show much strenght behind this move but on the other hand its hard to say we reached the top of this possible retracement. Its better to sit on the hands atm imo becouse price is just messing around.
Attached Image (click to enlarge)
Click to Enlarge Name: Gold.jpg Size: 111 KB
  • #1,287
  • Apr 22, 2013 1:32pm Apr 22, 2013 1:32pm
Quoting Dadas
People, why do you refuse to do it the right way? Is your chart, really that different? One look at GBPUSD D1 and you see a long Bearish Candle and PTECZ just after it. Candle_Index = 3. {image} You must know if the Bearish Trend is ending or not, to make a decision. Otherwise, you are just assuming, risking a lot! {image}
How do I really know if a bearish trend is ending or not using the INDEX NUMBER READING?Honestly I dont seem to know how this particular parameter works,kindly explain to me.thanks!
If you dont stand for something,you 'll fall for anything.
  • #1,288
  • Edited 1:58pm Apr 22, 2013 1:44pm | Edited 1:58pm
Quoting finaclefx
{quote} How do I really know if a bearish trend is ending or not using the INDEX NUMBER READING?Honestly I dont seem to know how this particular parameter works,kindly explain to me.thanks!
Oh MAN !

Index number is only the order number of the Candle!

You do not tell the Trend by Index number!
You tell the Candle by Index number!

I am telling you it is Candle with Index number 3 today which you should be plotting
for the discussed case, not any other Candle!

Because that D1 Candle is the PTECZ on Bearish Trend.

You tell the trend by Price Action!

Maybe you should start over again and first learn to read Price Action,
or IOW learn what information about Price each Candle contains!

But, you will not learn this by reading my posts a million times!
You will learn this by reading the charts a million times!
Trade the facts, not opinions.
  • #1,289
  • Edited 2:09pm Apr 22, 2013 1:53pm | Edited 2:09pm
Quoting markup
Gold still looks like it might go higher but i choose to wait instead The way in which price is raising doesn't show much strenght behind this move but on the other hand its hard to say we reached the top of this possible retracement. Its better to sit on the hands atm imo becouse price is just messing around. {image}
This is just typical GOLD behaviour, no matter what the scale of movement.
I like Andrews' Pitchfork, because it works perfectly with GOLD.
This contex was there since September 2012, and I plotted it many times.
Only, the Price stayed in the upper area, and nobody believed in such a move.
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdweekly.png Size: 67 KB

This looks like the setting of the new Floor Level that we are going to bounce off
in the next couple of years!
Trade the facts, not opinions.
  • #1,290
  • Apr 22, 2013 2:21pm Apr 22, 2013 2:21pm
@Red Herring,

One more example for you:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpym30.png Size: 73 KB
Trade the facts, not opinions.
  • #1,291
  • Apr 22, 2013 2:22pm Apr 22, 2013 2:22pm
--- sry dbl post
  • #1,292
  • Apr 22, 2013 2:23pm Apr 22, 2013 2:23pm
Quoting Dadas
{quote} This is just typical GOLD behaviour, no matter what the scale of movement. I like Andrews' Pitchfork, because it works perfectly with GOLD. This contex was there since September 2012, and I plotted it many times.
I did use Pitchfork couple years ago but now i find TLs do the job

Quoting Dadas
{quote}
This looks like the setting of the new Floor Level that we are going to bounce off in the next couple of years!
Years?
Strong words for someone who dont like predicting and opinions :=)
That might be true but i would watch 1500 like a hawk first becouse it will be mucho importante
  • #1,293
  • Apr 22, 2013 2:39pm Apr 22, 2013 2:39pm
Quoting markup
{quote} I did use Pitchfork couple years ago but now i find TLs do the job {quote} Years? Strong words for someone who dont like predicting and opinions :=) That might be true but i would watch 1500 like a hawk first becouse it will be mucho importante
AP is easier if you know how!
Just 3 points, voila!

Well, I look at PA in Long Term, I see!
It looks like - not it will be!

And, yes, 1500 was and is important!
Trade the facts, not opinions.
  • #1,294
  • Apr 22, 2013 3:46pm Apr 22, 2013 3:46pm
Price Action. PIN the level of consolidation


http://i5.pixs.ru/storage/1/0/7/1gif...01_7787107.gif

http://i5.pixs.ru/storage/2/4/6/2gif...71_7787246.gif
  • #1,295
  • Apr 22, 2013 4:23pm Apr 22, 2013 4:23pm
"Custom_zone_candle_Tf 1440 , Index = 2

attempt № 2

http://i5.pixs.ru/storage/4/8/7/2gif...92_7787487.gif
  • #1,296
  • Apr 22, 2013 4:34pm Apr 22, 2013 4:34pm
Quoting Luba
"Custom_zone_candle_Tf 1440 , Index = 2 attempt № 2 {image}
Luba,

Why Short?
H1 no signal!
You fight with Trend!
No good!
Trade the facts, not opinions.
  • #1,297
  • Apr 22, 2013 9:18pm Apr 22, 2013 9:18pm
Quoting <br /> ...<br /> [COLOR=Red
Forget the Trade, do not think you are missing something![/color]
And, also think in contexts!
You can Trade inside the PTECZ if Pips are enough, or outside the PTECZ.
I wrote about this so many times!
And, if you still do not know:
...
Nice I consider thinking is there still any chance to take profit from the move (at the next stop of course) better than thinking we are late
  • #1,298
  • Apr 22, 2013 10:10pm Apr 22, 2013 10:10pm
Alright let's try again here is the chart on UJ

W1
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyweekly.png Size: 31 KB

I search for PTECZ which best fit the condition, and I found on October 10, 2008 which I think fit best for the condition and confirmed by in the past this PTECZ have become resistance and on March 10, 2013 which before have become support as I can see price rejected from that area the condition on weekly still bullish confirmed by the rejection on March 10,2013 PTECZ even though this week candle seem bearish but the candle isn't closed yet.

D1
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 26 KB

On daily chart PTECZ which best fit for the condition is April 11, 2013 for last high and for the low is April 16, 2013. The daily chart still bullish indicated by breakout from low PTECZ and break in to high PTECZ, even though today candle is bear but it is not closed yet so the PA still bullish on daily.

H4
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.png Size: 27 KB

on H4 chart the PA is not clear yet since price cannot break up the PTECZ but the 4 hour candle right now isn't closed yet so the best odd is seeing the over all trend it would be much better to buy at retrace to low H4 PTECZ and wait if PA is giving signal for buy.

Please correct it Mr. Dadas because if I want to understand PTECZ better I need to see the chart from your POV
  • #1,299
  • Apr 22, 2013 10:11pm Apr 22, 2013 10:11pm
Quoting Dadas
{quote} Luba, Why Short? H1 no signal! You fight with Trend! No good!
Thank you Dadas.I saw the PIN from the level of consolidation is PA. 2 times you can go to the takeover bid, but that night and got to sleep..In the morning the deal was closed on the TP-1. looking for a new entry.

http://i5.pixs.ru/storage/0/8/8/2gif...12_7788088.gif
  • #1,300
  • Edited Apr 23, 2013 12:15am Apr 22, 2013 10:16pm | Edited Apr 23, 2013 12:15am
hi Dadas

nice thread, a true gem.
i was looking for thread that explain basic price action without any indicator, no prediction, and trade with the current condition.
i found out it here. just read couple of early pages. trully enlightening.

keep up the good work.


Regards
steady as she goes
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