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Price Action in Day Trading by Dadas

  • #1,441
  • Apr 27, 2013 9:06am Apr 27, 2013 9:06am
Quoting Dadas
{quote} I am 53 years young! I have 2 kids: daughter 27, son 15. I have all the respect for You and even my adversaries. I am raising your goal level. You can see this, or continue fighting!
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,442
  • Apr 27, 2013 9:30am Apr 27, 2013 9:30am
Quoting ejiexe
{quote}
Trade the facts, not opinions.
  • #1,443
  • Apr 27, 2013 10:39am Apr 27, 2013 10:39am
OK, I will show you why it is important to know all the levels from MN!
Remember what I posted about Understanding the Chart?
Remember what I posted about the workings of the Candlestick?
This applies to every Candlestick!

So, I was plotting PTECZs, on the W1 EURJPY:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyweekly.png Size: 55 KB

Nothing new, the old, usual way! Historical PTECZs.
I switched to MN just to check:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymonthly.png Size: 60 KB

And, enlightning struck, again!
Damn, it is so obvious, it is the end of the month!
Since there is some important Resistance at the top,
the MN Candlestick is in formation! The Wick or Shadow is building!

Damn, the Bearish retrace is so obvious, now!!!

But, why do I need to do the MN and W1 if the Pips are so far away from Day Trading?

Why?, well Why? Why? Why?

So that I will (here some F word comes in) know where I am!
So that I realize it is the last week or last 7 Market Days before the End of the Month!
So that I will not wonder why the Price is retracing Down on a strong Bullish Trend!
So that I can expect that Price Action instead of being mesmerised by the Bullish Trend!

Need more F'n reasons?

BTW see where the Price stopped on Friday?
Trade the facts, not opinions.
  • #1,444
  • Apr 27, 2013 11:29am Apr 27, 2013 11:29am
This is the way I see it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpymonthly.png Size: 90 KB
Click to Enlarge Name: eurjpyweekly.png Size: 78 KB
Click to Enlarge Name: eurjpydaily.png Size: 82 KB
Click to Enlarge Name: eurjpyh4.png Size: 62 KB
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,445
  • Apr 27, 2013 12:50pm Apr 27, 2013 12:50pm
Sorry ejiexe, but you DO NOT PASS!
Attached Image (click to enlarge)
Click to Enlarge Name: ejiexe_MN.gif Size: 64 KB

Apart from the mistakes that are not PTECZ at all,
you do not need any of these Zones except for the Red one!

Actually, you need this:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymonthly_the_right_way.png Size: 62 KB


Then you go to W1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyweekly_the_right_way.png Size: 62 KB


Then you go to D1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily_the_right_way.png Size: 60 KB

You got the high level, you got the low level,
there are no PTECZ on the high D1 level.

Then you go to H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4_the_right_way.png Size: 57 KB

And we follow the PTECZs, the Stops!

Then you go to H1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh1_the_right_way.png Size: 62 KB

And follow the PTECZs.

And this is enough to Enter from M15:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym15_the_right_way.png Size: 58 KB


Or from M5:
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpym5_the_right_way.png Size: 58 KB


Sorry ejiexe, but you have a long way to learn!
Trade the facts, not opinions.
  • #1,446
  • Apr 27, 2013 1:31pm Apr 27, 2013 1:31pm
@ejiexe

Under your posts there is this signature:
THE DIFFERENCE BETWEEN EXCELLENT AND GOOD IS ATTENTION TO DETAILS.

It should be:
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.

And, that is the difference.
You should, at least try to follow your own motto!
Trade the facts, not opinions.
  • #1,447
  • Apr 27, 2013 2:42pm Apr 27, 2013 2:42pm
Quoting Dadas
Sorry ejiexe, but you DO NOT PASS! {image} Apart from the mistakes that are not PTECZ at all, you do not need any of these Zones except for the Red one! Actually, you need this: {image} Then you go to W1: {image} Then you go to D1: {image} You got the high level, you got the low level, there are no PTECZ on the high D1 level. Then you go to H4: {image} And we follow the PTECZs, the Stops! Then you go to H1: {image} And follow the PTECZs. And this is enough to Enter from M15: {image} Or from M5: {image} Sorry ejiexe, but you have a long way to learn!...
OK I agree with you I did'nt pass but I did the task without any execusess.

I am sure you are very good at relating or applying to things that have happened in the past.

Let me also challenge you without any execuss of not doing it as well.

Post your trade with PTECZ few minutes after the entry and post again after the the exit. The entry, stop and TP should be shown and not like the EJ you trade you shown us after it has almost getting to TP.

I have done it several time before. Steve and luba have also done it.

I don't like when you pick PTECZ that suit your purpose after the fact. DO it man for me to see
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #1,448
  • Apr 27, 2013 2:45pm Apr 27, 2013 2:45pm
Quoting ejiexe
{quote} OK I agree with you I did'nt pass but I did the task without any execusess. I am sure you are very good at relating or applying to things that have happened in the past. Let me also challenge you without any execuss of not doing it as well. Post your trade with PTECZ few minutes after the entry and post again after the the exit. The entry, stop and TP should be shown and not like the EJ you trade you shown us after it has almost getting to TP. I have done it several time before. Steve and luba have also done it. I don't like when you pick...
I have done it and there is a very good live example in this thread!
Maybe you missed something?

And, I do not pick the PTECZ, the PTECZ was there.

There aren't many PTECZs to choose from.
I just look for the one most appropriate to the situation.
Trade the facts, not opinions.
  • #1,449
  • Apr 27, 2013 2:55pm Apr 27, 2013 2:55pm
@ejiexe

The first problem is Ego, you know.
The second is patience.
Patience to wait out for the clear situation.
Basically, if we do not see a clear situation, we should just wait.

I know, that you combine the PTECZ with your Divergence/Convergence
method and it works fine. You see the current PTECZ and the Break
without plotting the PTECZ. This is fine, as long as it works for you.

The point is that you should not correct other people or tell them
if they are doing it right or not, because you can not do it right, yourself.

I am not saying that you can not use the PTECZ combined with your method!

I am saying that you can not substitute for me on this thread!
Trade the facts, not opinions.
  • #1,450
  • Apr 27, 2013 3:03pm Apr 27, 2013 3:03pm
@ eiexe I think we are drift from issue. what Dadas is doing is not our issue, I pray for his success. as we all know that no one get 100% correct trades if over all average is in +ve for long period than it is ok and I think Dadas is in +ve side, what he offer in this thread is matter. how we can get max form this method is our goal. one should be flexible.
regards.
don't predict direction, but dance with flow of water
  • #1,451
  • Apr 27, 2013 3:17pm Apr 27, 2013 3:17pm
Quoting ejiexe
I don't like when you pick PTECZ that suit your purpose after the fact. DO it man for me to see
I have just done it.
I can not Enter the Market, it is not up to me.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpydaily.png Size: 60 KB

This is the current situation.
I know what to play, now!

Do you?
Trade the facts, not opinions.
  • #1,452
  • Apr 27, 2013 4:37pm Apr 27, 2013 4:37pm
PS.
I should have done exactly the above analysis yesterday, meaning Friday.
I should be in position already. In a very early position!

Who knows, maybe I am?
Trade the facts, not opinions.
  • #1,453
  • Apr 28, 2013 3:40am Apr 28, 2013 3:40am
Here's how I'm seeing AUD/USD from the top down to H4.

If you do this, over the weekend, with the pairs you trade it sets you up for the following week.

Remember this is just the way I'm seeing it you might find something totally different.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD MN Chart.png Size: 91 KB
Click to Enlarge Name: 28th Apr 13 AUD:USD W1 Chart.png Size: 118 KB
Click to Enlarge Name: 28th Apr 13 AUD:USD W1 Chart 2.png Size: 85 KB
Click to Enlarge Name: 28th Apr 13 AUD:USD D1 Chart.png Size: 110 KB
Click to Enlarge Name: 28th Apr 13 AUD:USD H4 Chart.png Size: 118 KB
  • #1,454
  • Apr 28, 2013 4:30am Apr 28, 2013 4:30am
Quoting Dadas
........I switched to MN just to check: {image} And, enlightning struck, again! .........BTW see where the Price stopped on Friday?
Hi Dadas,
From your robust exchange of posts with 'ejiexe' its obvious that you are passionate about PA and take it very seriously.
Your explanations have also helped to answer questions that some of us might have hesitated to ask eg the relevance of PTECZs that are some distance from the current price and we appreciate that "ejiexe" asked about it.
Following from that, on the EURJPY monthly chart the last time Price was at this level it stayed there for 11 months.
The width of the Mn PTECZ INDEX=104 is ~ 600 pips, so its likely that it would be similar this time around.
As such, why not just focus and take advantage of market swings on the lower Tfs?
I also see that it was rejected at the first approach to this level and maybe this is why we can expect a bearish move first?
Or, is it different because this time it approaching from below?

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymonthly.png Size: 58 KB
  • #1,455
  • Edited 5:10am Apr 28, 2013 4:41am | Edited 5:10am
Quoting stevepatt
Here's how I'm seeing AUD/USD from the top down to H4. If you do this, over the weekend, with the pairs you trade it sets you up for the following week. Remember this is just the way I'm seeing it you might find something totally different. {image} {image} {image} {image} {image}
Yes, stevepat, there are differences on charts, the Candles do not look exactly
the same, but overall, everyone should get a very similar picture.

I see that you are often overinterpreting the PTECZ, extending it.
You do not need to do that.
If there isn't a PTECZ on the Tf where you want it to be, because of Levels,
there will be a good one on another Tf! You, just have to find it!

Another point:
You are applying Bullish Trend PTECZs to Bearish Trends.
This not correct!
A Bullish Trend PTECZ applies to another Bullish Trend.
A Bearish Trend PTECZ applies to another Bearish Trend.

And, we look for PTECZs which apply to the Price Level,
not some next Potential level!
You will look for the next Potential Level on the Entry!

This is what my picture looks like:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdmonthly.png Size: 60 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdweekly.png Size: 61 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily.png Size: 79 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4.png Size: 61 KB

Now, you read it like this:
MN - Consolidation for 3 months at High - Price gets rejected (like you did);
W1 - Previous week Break - Down, strong; This week Consolidation Doji (most probably);
Conclusion - W1 Bearish Signal, watch PA which way will Break from Consolidation?
D1 - Wednesday - Break Up; Thursday Continuation UP, strong rejection from high;
Friday - second test Up, rejection, Consolidation;
Earlier strong Bearish which stopped at W1 PTECZ.
Note: Rejections from High - Lower each time!
H4 - Confirms Consolidation at W1 PTECZ.
Short Signals - still present in recent history;
Long Signals - no Bullish Break Up Candle!

H1:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh1.png Size: 65 KB

Retrace to D1/H4 PTECZ, bounce off Down;
Price in the Middle between H4 PTECZs - Consolidated;
Trade the facts, not opinions.
  • #1,456
  • Edited 5:43am Apr 28, 2013 4:58am | Edited 5:43am
Quoting EaglePip
... on the EURJPY monthly chart the last time Price was at this level it stayed there for 11 months. The width of the Mn PTECZ INDEX=104 is ~ 600 pips, so its likely that it would be similar this time around. As such, why not just focus and take advantage of market swings on the lower Tfs?
Did I say anything about which market swings you should or should not take advantage of?
This is your strategy, and you decide which Trends your want to exploit!
The analysis from MN is so that you know where you are!
Maybe you didn't understand this post:
http://www.forexfactory.com/showthre...53#post6641753
which explains why you need to do the MN, W1 analysis even if you are Day Trading!
If that is your conclusion and you are sure that Price will continue Up, because PA is telling you that,
then what you do with it is up to You!

Quoting EaglePip
...I also see that it was rejected at the first approach to this level and maybe this is why we can expect a bearish move first? Or, is it different because this time it approaching from below? {image}
You are asking strange questions.
If anyone knew the answers to these questions, they wouldn't need any PA, nor even a chart.
That is the reason why we do the analysis from MN to H4 or H1 or M30.
That is why we have the PTECZ and Price Action.

All you are saying is "maybe" - "maybe yes, maybe no, maybe baby, I don't know"!

Do the analysis. Post it. I will comment.
Until you do the analysis, you know nothing!
Trade the facts, not opinions.
  • #1,457
  • Apr 28, 2013 5:25am Apr 28, 2013 5:25am
Here, an example what a Long Term analysis might look like:

GBPUSD MN:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdmonthly.png Size: 59 KB

There is around 800 Pip Potential between Zones.
After Consolidation with rejection from Support MN Zone
Price Broke Up building the new Bullish Trend.

Enter Long on retrace to the area of the second Green W1 Support PTECZ.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdweekly.png Size: 68 KB


Or on retrace to the Yellow D1 Support PTECZ:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 56 KB


Or, decide on Entry upon H4 PA:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 59 KB


Or, whichever other Tf you wish!

The important thing is that:
1. You have the full analysis,
2. You have your conclusions,
3. You have your strategy,
4. You act upon the PA!
Trade the facts, not opinions.
  • #1,458
  • Apr 28, 2013 5:42am Apr 28, 2013 5:42am
Quoting EaglePip
Hi Dadas, From your robust exchange of posts with 'ejiexe' its obvious that you are passionate about PA and take it very seriously.
Yes, this thread is:
Price Action in Day Trading by Dadas

Without the ability to read Price Action from each Candlestick
you will not be able to make any sensible conclusions about PA.
Trade the facts, not opinions.
  • #1,459
  • Apr 28, 2013 6:26am Apr 28, 2013 6:26am
Quoting Dadas
{quote} Yes, stevepat, there are differences on charts, the Candles do not look exactly the same, but overall, everyone should get a very similar picture. I see that you are often overinterpreting the PTECZ, extending it. You do not need to do that. If there isn't a PTECZ on the Tf where you want it to be, because of Levels, there will be a good one on another Tf! You, just have to find it! Another point: You are applying Bullish Trend PTECZs to Bearish Trends. This not correct! A Bullish Trend PTECZ applies to another Bullish Trend. A Bearish Trend...
Dadas, I will tighten my search for PTECZ and treat major swing points as something to also be aware of when looking for supply and demand levels.

I will also make sure to look for PTECZs that correspond with the direction of the trend and are the ones closest to the market price.

Thanks for keeping me on track.
  • #1,460
  • Apr 28, 2013 7:10am Apr 28, 2013 7:10am
Quoting stevepatt
{quote} Dadas, I will tighten my search for PTECZ and treat major swing points as something to also be aware of when looking for supply and demand levels.
One does not exclude the other.
If there isn't a PTECZ at the Major Swing Point, there is a TBCZ.
Plot the TBCZ and you will find a PTECZ in the TBCZ on the smaller Tf:
Attached Image (click to enlarge)
Click to Enlarge Name: audusdmonthly_tbcz.png Size: 59 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdweeklytbcz_ptecz.png Size: 66 KB

Anyway, for historical S/R Levels the TBCZ is as good as the PTECZ!
Trade the facts, not opinions.
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