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Price Action in Day Trading by Dadas

  • #1,461
  • Apr 28, 2013 7:30am Apr 28, 2013 7:30am
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweeklytbcz_ptecz.png Size: 70 KB
Trade the facts, not opinions.
  • #1,462
  • Apr 28, 2013 7:30am Apr 28, 2013 7:30am
Can you check what I've done with EUR/USD, please, and see if we agree
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 28th Apr 13 EUR:USD MN Chart.png Size: 93 KB
Click to Enlarge Name: 28th Apr 13 EUR:USD W1 Chart.png Size: 87 KB
Click to Enlarge Name: 28th Apr 13 EUR:USD D1 Chart.png Size: 112 KB
Click to Enlarge Name: 28th Apr 13 EUR:USD H4 Chart.png Size: 113 KB
  • #1,463
  • Apr 28, 2013 7:34am Apr 28, 2013 7:34am
Quoting Dadas
{quote} 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: {image} {image} Anyway, for historical S/R Levels the TBCZ is as good as the PTECZ!
Thanks for the heads up on the TBCZ, something else to think about.
  • #1,464
  • Apr 28, 2013 8:16am Apr 28, 2013 8:16am
Quoting stevepatt
Can you check what I've done with EUR/USD, please, and see if we agree {image} {image} {image} {image}
I can see where your confusion is.
The Bearish Trend PTECZ is the "Green" PTECZ Candle.
The Bullish Trend PTECZ is the "Red" PTECZ Candle.

The EURUSD MN chart:
The upper PTECZ you marked is the Bullish Candle Trend Ending PTECZ!
So, it applies to the Bullish retraces that took place.
It can apply to the current situation if Price is going Up.

But, the Price has not reached that level, so there is another PTECZ at
the current High level - where Price Broke down first from your MN PTECZ,
and retraced backu Up, there is the almost Doji Candle which the indicator can not catch.

The upper PTECZ you plotted may be important for a Longer Term Trade, if there is reason to go Long.
For the moment we need the current Levels, to see how Price is reacting to them.

Same stands for your lower MN PTECZ.
It is the Potential Short target.
It does not resemble the current situtation, the current Price Levels!

Here, you should find a historical PTECZ, even if it is very far!

The EURUSD W1 chart:
And, you have found the current Levels on the W1 chart.
Though, the W1 Candle Index 1 is the most current upper PTECZ!
If you extended it to the left, you would see it more clearly!

The EURUSD D1 chart:
The upper PTECZ is good, only it is the Bullish Trend Candle PTECZ!
It is after the Local Bullish Trend, even if it was 1 Day Long.
Same for the lower PTECZ!
it is the Bearish Trend Candle PTECZ!
It is after the Local Bearish Trend, even if it was 1 Day Long.

The EURUSD D1 chart:
Same as above!
PTECZs are correct, naming is incorrect!
Trade the facts, not opinions.
  • #1,465
  • Apr 28, 2013 8:52am Apr 28, 2013 8:52am
On my charts the EURUSD analysis looks like this:

EURUSD MN:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdmonthly.png Size: 68 KB

The Price is retracing on a Bearish 2 Month's Trend.
This Month is likely to Close as a PTECZ as we have 2 more Market Days to Month Close.

Conclusions:
This could be a retrace on the Bearish Trend.
This could be the End of the Bearish Trend.
For Monthly Term investments one must look out for Price Break from the current MN PTECZ.
So, wait until Close of Month.
Watch PA for Break and retrace.

EURUSD W1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 61 KB

This picture confirms the MN conclusions.
However, there are no Bullish Break Signals!
We could go Short at the Top of the Green MN PTECZ.
We could wait for Break Up from the Green MN PTECZ and retrace to go Long.

EURUSD D1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusddaily.png Size: 61 KB

The Daily chart suggests a Bearish Trend from the Top of the Green MN PTECZ.

EURUSD H4:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.png Size: 59 KB

We can see the Bears even more clearly on the H4, with or without the help of TBCZ or PTECZ.

EURUSD H1:
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 68 KB

Then, we can go closer, as close as we want.
Just keep in mind our earlier conclusions!
Trade the facts, not opinions.
  • #1,466
  • Apr 28, 2013 9:01am Apr 28, 2013 9:01am
Quoting Dadas
{quote} I can see where your confusion is. The Bearish Trend PTECZ is the "Green" PTECZ Candle. The Bullish Trend PTECZ is the "Red" PTECZ Candle. The EURUSD MN chart: The upper PTECZ you marked is the Bullish Candle Trend Ending PTECZ! So, it applies to the Bullish retraces that took place. It can apply to the current situation if Price is going Up. But, the Price has not reached that level, so there is another PTECZ at the current High level - where Price Broke down first from your MN PTECZ, and retraced backu Up, there is the almost Doji...
Sorry,I just dont get this, why isnt this one the D1 bullish PTECZ candle ? (marked with black arrow )
Attached Image (click to enlarge)
Click to Enlarge Name: steve patt.png Size: 144 KB
  • #1,467
  • Apr 28, 2013 9:16am Apr 28, 2013 9:16am
So, the next part is to find the reasonable Short Target for EURUSD.
We see the recent strong rejection at some Support.
The Long Wick or Shadow. It is about 70+ Pips from current Price Level.
The corresponding PTECZ on Bearish Trend is H4 Candle Index 199.
Thus, we have a very reasonable Short Target for EURUSD Day Trading!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4_target.png Size: 59 KB
Trade the facts, not opinions.
  • #1,468
  • Apr 28, 2013 9:25am Apr 28, 2013 9:25am
Quoting robuk
{quote}Sorry,I just dont get this, why isnt this one the D1 bullish PTECZ candle ? (marked with black arrow ) {image}
Because it is the Bearish Trend PTECZ.
It is the PTECZ potentially ending the Bearish Trend!
When it first appeared, it was the Potentially Trend Ending Consolidation Zone. (the Bearish Trend)

That is the whole PTECZ idea!
When the PTECZ first appears, we do not know if it is the Ending or Not?

It is the idea!

Not the Direction of the PTECZ!
The Direction of the Trend the PTECZ is Ending!
Trade the facts, not opinions.
  • #1,469
  • Apr 28, 2013 9:37am Apr 28, 2013 9:37am
Quoting Dadas
{quote} Do the analysis. Post it. I will comment. Until you do the analysis, you know nothing!
Thanks for your feedback.
For my analysis, have chosen AUDJPY as the pair probably most suitable to my timezone in the Asian Session.
Mn: Bullish run is entering PTecz from high last seen in 2007.

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

W1: Feb consolidation now a support level.
D1: Rejection from PTECZ Index=4.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpydaily.png Size: 49 KB

H4: Rejection from PTecZ Index=14
H1:Bullish retrace from Ptecz=5 losing momentum and reenter the CZ.

Attached Image (click to enlarge)
Click to Enlarge Name: audjpyh1.png Size: 49 KB

Rejection from D1 and H4 and H1 turnaround appear to favour a bearish move.
Will look for entry on break of next PTECZ on M30/M15.
  • #1,470
  • Edited 10:04am Apr 28, 2013 9:39am | Edited 10:04am
Quoting Dadas
{quote} Because it is the Bearish Trend PTECZ. It is the PTECZ potentially ending the Bearish Trend! When it first appeared, it was the Potentially Trend Ending Consolidation Zone. (the Bearish Trend) That is the whole PTECZ idea! When the PTECZ first appears, we do not know if it is the Ending or Not? It is the idea! Not the Direction of the PTECZ! The Direction of the Trend the PTECZ is Ending!
Yes , thats what i meant , it looks to me like it is a bullish candle that may potentiallly end the bearish trend , and should be marked as a PTECZ - have i still got this wrong ?
I feel sure i understand the general concept,
  • #1,471
  • Apr 28, 2013 9:52am Apr 28, 2013 9:52am
Lord, you are sick "globalism"!!!. In Russia we have a saying, "the farther into the forest, the more wood." everything is very simple don't have to build levels. from month to month.I agree with ejiexe. don't build levels ranging from extremes month, week and so on. you can get messy. head range. There are All in the indicator Custom_Zone_Candle.!!! You forgot about the Price Action .? Pin Bars, Inside Bars, DBHLC-DBLHC, BEOB-BUOB and other from level-it must be. it's a topic branch.

http://i5.pixs.ru/storage/1/3/4/2gif...89_7837134.gif
  • #1,472
  • Apr 28, 2013 9:55am Apr 28, 2013 9:55am
Quoting robuk
{quote}Yes , thats what i meant , it looks to me like it is a bullish candle that may potentiallly end the bearish trend , and should be marked as a PTECZ - have i still got this wrong ?
Naming is important, after all!
The Bearish Trend PTECZ is the "Green" PTECZ Candle.
The Bullish Trend PTECZ is the "Red" PTECZ Candle.
And this is what we must stick to!

There are 2 types of PTECZs:
The Bearish Trend PTECZ
The Bullish Trend PTECZ

All other naming is getting people confused!
Trade the facts, not opinions.
  • #1,473
  • Edited 10:29am Apr 28, 2013 10:06am | Edited 10:29am
Quoting Luba
Lord, you are sick "globalism"!!!. In Russia we have a saying, "the farther into the forest, the more wood." everything is very simple don't have to build levels. from month to month.I agree with ejiexe. don't build levels ranging from extremes month, week and so on. you can get messy. head range. There are All in the indicator Custom_Zone_Candle.!!! You forgot about the Price Action .? Pin Bars, Inside Bars, DBHLC-DBLHC, BEOB-BUOB and other from level-it must be. it's a topic branch. {image}...
I do not like your "English".

In Poland we have the same saying. Russian language and Polish language have many things similar.
There are Russisms in the Polish language, and there are Polishisms in the Russian language.

Yes, the Zone Candle is my own invention!
I invented the Zone Candle and the Trading Strategy with the Zone Candle.
I wrote the Custom_Zone_Candle indicator.

I am happy that you can use this simple strategy with great effects.

However, please allow me and others to do it their way.
Some of us like the PTECZ way better, we like more complicated ways.

You do it your way!

Post your results, your trades, we are happy to see them!

I, do it my way!

I am not telling you that you must do it this or that way!

I do not wish to put you on my ignore list, but words like "sick"
give me enough reason to do it!

I am only warning you now!

PS.
If you have such good command of Price Action,
you do not need my PTECZ,
you do not need my Zone Candle!
Trade the facts, not opinions.
  • #1,474
  • Apr 28, 2013 10:10am Apr 28, 2013 10:10am
Quoting Luba
In Russia we have a saying, "the farther into the forest, the more wood."
"The deeper into the forest, the more trees."

But, if I go with you into the forest, you could give me wood!
Trade the facts, not opinions.
  • #1,475
  • Apr 28, 2013 10:16am Apr 28, 2013 10:16am
Quoting Dadas
{quote} Naming is important, after all! The Bearish Trend PTECZ is the "Green" PTECZ Candle. The Bullish Trend PTECZ is the "Red" PTECZ Candle. And this is what we must stick to! There are 2 types of PTECZs: The Bearish Trend PTECZ The Bullish Trend PTECZ All other naming is getting people confused!
Yes , of course , apologies for that , my slip up , but apart from that ,was it the correct PTECZ that i marked , i'm trying very hard to learn and checking to see if i'm on the right track.
  • #1,476
  • Apr 28, 2013 10:21am Apr 28, 2013 10:21am
Quoting robuk
{quote} Yes , of course , apologies for that , my slip up , but apart from that ,was it the correct PTECZ that i marked , i'm trying very hard to learn and checking to see if i'm on the right track.
Yes, that was the PTECZ!
Trade the facts, not opinions.
  • #1,477
  • Apr 28, 2013 10:36am Apr 28, 2013 10:36am
Quoting Dadas
{quote} Yes, that was the PTECZ!
Thank you so much, please keep up the good work , i'm sure lots of people who are learning so much from you really appreciate your selfless efforts .
  • #1,478
  • Apr 28, 2013 10:52am Apr 28, 2013 10:52am
Quoting Dadas
On my charts the EURUSD analysis looks like this: EURUSD MN: {image} The Price is retracing on a Bearish 2 Month's Trend. This Month is likely to Close as a PTECZ as we have 2 more Market Days to Month Close. Conclusions: This could be a retrace on the Bearish Trend. This could be the End of the Bearish Trend. For Monthly Term investments one must look out for Price Break from the current MN PTECZ. So, wait until Close of Month. Watch PA for Break and retrace. EURUSD W1: {image} This picture confirms the MN conclusions. However, there are no Bullish...
Hi Dadas,
Post# 1 465
On the EURUSD MN chart
Please tell me where these 2 zones (green & pink) come from?
  • #1,479
  • Apr 28, 2013 10:58am Apr 28, 2013 10:58am
Quoting mosah
{quote} Hi Dadas, Post# 1 465 On the EURUSD MN chart Please tell me where these 2 zones (green & pink) come from?
No, mosah,

The PTECZ is High to Low of the PTECZ Candle.
You can see that on the chart.

You download the chart to your computer, post #1465
You show me with some PhotoShop where they come from!
Trade the facts, not opinions.
  • #1,480
  • Apr 28, 2013 11:18am Apr 28, 2013 11:18am
Quoting Dadas
{quote} No, mosah, The PTECZ is High to Low of the PTECZ Candle. You can see that on the chart. You download the chart to your computer, post #1465 You show me with some PhotoShop where they come from!
Are these ones in the charts?
Attached Image (click to enlarge)
Click to Enlarge Name: Post# 1465_eurusdmonthly.png Size: 70 KB
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