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Price Action in Day Trading by Dadas

  • #2,521
  • May 30, 2013 9:57am May 30, 2013 9:57am
Quoting mosah
{quote} Hi Dadas & Emiratez,According to my understanding, the entry would be at the close of the candle "Retrace" as indicated by vertical red line. {image}
Yes, you are correct, ideally!

That's what we are all working to be able to do, consistently!
Trade the facts, not opinions.
  • #2,522
  • Edited 11:00am May 30, 2013 10:09am | Edited 11:00am
Quoting Dadas
{quote}Welcome aboard chon! If you understand the difference between TBCZ and PTECZ,then your work is almost perfect!{image}{image}{image}{image}Pay more attention to current Price Level when in smaller Tf.
Dear Dadas

Thanks for the encouraging words. My understanding is that the TBCZ is the smaller candle just before a trend move up or down (sort of reciprocal to PTECZ).

Is this a basic plan of the PTECZ method?
1. We look for a PTECZ in an appropriate time frame for our entry (eg M30 for M5 entry).
2. On the PTECZ time frame, wait for a breakout candle to leave the PTECZ.
3. Now moving to the entry time frame, look for a retrace to the PTCEZ & enter on engulfing candle or similar pattern.
4. PTECZs on larger time frames are targets or represent obstacles in the progress of price.

Best wishes to all.
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  • #2,523
  • May 30, 2013 10:49am May 30, 2013 10:49am
Hello bro's! Look correctly identified areas? Criticize if something goes wrong.
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  • #2,524
  • May 30, 2013 11:03am May 30, 2013 11:03am
Quoting chon
Dear Dadas Thanks for the encouraging words. My understanding is that the TBCZ is the smaller candle just before a trend move up or down (sort of reciprocal to PTECZ).
Correct!
Now I know that you understand!

Quoting chon
Is this a basic plan of the PTECZ method?1. We look for a PTECZ in an appropriate time frame for our entry (eg M30 for M5 entry).2. On the PTECZ time frame, wait for a breakout candle to leave the PTECZ.3. Now moving to the entry time frame, look for a retrace to the PTCEZ & enter on engulfing candle or similar pattern.4. PTECZs on larger time frames are targets or represent obstacles in the progress of price. Best wishes to all.
Well, the points are correct, but the Plan is not correct!
For Day Trading:
1. We look at where the Price is now.
2. We look at Dialy Range, how much it is now and what the WADR is.
3. We go to MN and look for Floor and Ceiling PTECZs for the current Price Levels
in the distance of about WADR. We also identify the Trend.
4. We go to W1 and do the same by optimising the PTECZs.
5. We go to D1 and do the same as above.
6. We go to H4 and do the same, find the best fitting PTECZs.
Sometimes the higher Tf PTECZs will already be the best fitting.
Then, we do not need to optimise.
7. Now we can switch to M5 for example and observe Price Action and current PTECZs.
Now, we can use the M30 or H1 or H4 PTECZ for Entry from M5.
Now, all the current Price Action elements come into play!
Now, all my rules of Short at Top, Long at Bottom.
Now, your R/R to Pip Potential!

2-3 hours with me on SKYPE, and you will get it!
Trade the facts, not opinions.
  • #2,525
  • May 30, 2013 11:29am May 30, 2013 11:29am
Kindly sir, can you check this image ?
would this be a brake out candle ?
thank you
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  • #2,526
  • Edited 12:50pm May 30, 2013 11:38am | Edited 12:50pm
Quoting Andrej07
Hello bro's! Look correctly identified areas? Criticize if something goes wrong.{image}
Andrej07,

What you are showing is not my method.
I do not know where your areas come from?
They are not PTECZ!

This is the PTECZ Method, for a 100th time:
1. MN Ceiling and Floor PTECZ:
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2. W1 Ceiling and Floor PTECZ:
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3. D1 Ceiling and Floor PTECZ:
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4. H4-H1 Ceiling and Floor PTECZ:

There was only TBCZ on H4 so I found PTECZ on H1
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What is your plan now?
Trade the facts, not opinions.
  • #2,527
  • May 30, 2013 11:44am May 30, 2013 11:44am
@Chon,

Your image - chart is very naive and shows a very little fragment of the picture.
Your Entries are based on very little information.
I can not see why you decide to Enter where you show?
I can not see why you decide on this direction.
My PTECZ method, I have shown in full many times!

Please, do the full analysis from top to bottom!
Otherwise you will be asking me why you are getting SL when you are using my method!

What you show is only one piece of the Method!
Do the whole thing!
Like I show!
Trade the facts, not opinions.
  • #2,528
  • May 30, 2013 11:54am May 30, 2013 11:54am
Quoting blackbeary
Kindly sir, can you check this image ?would this be a brake out candle ?thank you {image}
Yes, it is a Break Up Candle from the PTECZ I have plotted for you.
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Trade the facts, not opinions.
  • #2,529
  • May 30, 2013 12:04pm May 30, 2013 12:04pm
Quoting Dadas
{quote}Yes, it is a Break Up Candle from the PTECZ I have plotted for you.{image}

Thank you
would this entry would be valid on 5 min ?
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  • #2,530
  • May 30, 2013 12:14pm May 30, 2013 12:14pm
Quoting Dadas
{quote}Correct!Now I know that you understand! {quote}Well, the points are correct, but the Plan is not correct!For Day Trading:1. We look at where the Price is now.2. We look at Dialy Range, how much it is now and what the WADR is.3. We go to MN and look for Floor and Ceiling PTECZs for the current Price Levels in the distance of about WADR. We also identify the Trend.4. We go to W1 and do the same by optimising the PTECZs.5. We go to D1 and do the same as above.6. We go to H4 and do the same, find the best fitting PTECZs.Sometimes the higher Tf...

Many thanks for this. Tomorrow morning I will do the top down analysis, post the charts & start to put it all into practice. I'll also Skype you, that will be so useful.

Best wishes.
  • #2,531
  • Edited 1:01pm May 30, 2013 12:48pm | Edited 1:01pm
Quoting blackbeary
{quote} Thank youwould this entry would be valid on 5 min ? {image}
blackbeary,

Your question is out of place.
Show the reasons, at least from H4 down.
Tell me why you would be looking for Long, when you did not see the future?
Tell me why you would be looking for Long, when the Trend was Bearish?
Explain your analysis of Price Action at least from H4 down.

Then, explain which Price Action signals confirmed the Long according to PTECZ.

Then, I can tell you if the Entry would be valid.

One Break Up Candle is not enough to make the right decision.

This is why some people get SL - they jump to conclusions without thinking.


I will show you this:
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You tell me where your risk was worth the go, and why?
Trade the facts, not opinions.
  • #2,532
  • May 30, 2013 1:13pm May 30, 2013 1:13pm
Quoting Dadas
{quote}blackbeary, Your question is out of place.Show the reasons, at least from H4 down.Tell me why you would be looking for Long, when you did not see the future?Tell me why you would be looking for Long, when the Trend was Bearish?Explain your analysis of Price Action at least from H4 down. Then, explain which Price Action signals confirmed the Long according to PTECZ. Then, I can tell you if the Entry would be valid. One Break Up Candle is not enough to make the right decision. This is why some people get SL - they jump to conclusions without...
Here is what i thought., monthly i feel bearish but after downmove i was thinking long for bounce , i am still playing with indicator and mostly just draw zones manualy
i tought we could consolidate here off gaily and bounce back at least half way to top ceiling
thank you for help
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  • #2,533
  • May 30, 2013 1:14pm May 30, 2013 1:14pm
pure price action and 840% in just two days. my little test with naked charts only candlesticks. 15$ (+15$ bonus) become 141$. it is just a test of my price action.
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don't predict direction, but dance with flow of water
  • #2,534
  • May 30, 2013 1:15pm May 30, 2013 1:15pm
i went long again here for scalp and closed already
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  • #2,535
  • May 30, 2013 1:20pm May 30, 2013 1:20pm
Quoting blackbeary
{quote} Here is what i thought., monthly i feel bearish but after downmove i was thinking long for bounce , i am still playing with indicator and mostly just draw zones manualyi tought we could consolidate here off gaily and bounce back at least half way to top ceilingthank you for help {image} {image} {image}
Well, that is something, but:

1. Too much thinking, assuming, predicting, guessing - No facts!
2. No PTECZ Method!
3. No Price Action!

Concluding: a lot of guessing, no facts!
In other words: You have no idea of what you are doing.

I want you to tell me why by Price Action and facts, not what you think!
Trade the facts, not opinions.
  • #2,536
  • May 30, 2013 1:25pm May 30, 2013 1:25pm
Quoting priceaction1
pure price action and 840% in just two days. my little test with naked charts only candlesticks. 15$ (+15$ bonus) become 141$. it is just a test of my price action. {image}
Nice show off, priceaction1!

Did you use the PTECZ method in any way?

If not, please delete your post or edit it so that it is about this thread.

I realise and often state that some poeple can Trade with only the chart.

However, this thread is not about that.

It is about my visual PTECZ Method.

It is not the place to show off your results with another method.

Though, I do congratulate you on the result!
Trade the facts, not opinions.
  • #2,537
  • May 30, 2013 1:27pm May 30, 2013 1:27pm
Quoting Dadas
{quote}Well, that is something, but: 1. Too much thinking, assuming, prediting, guessing - No facts!2. No PTECZ Method!3. No Price Action! Concluding: a lot of guessing, no facts!In other words: You have no idea of what you are doing. I want you to tell me why by Price Action and facts, not what you think!
Ok, i have seen price rejecting previous zone on 4H couple days and it broke out and came back seems like consolidating again,
and i looked within 1H and seen the break out and felt to go long, so i waited on 5 min for price to consolidate and entered.

Thanks for help
  • #2,538
  • May 30, 2013 1:29pm May 30, 2013 1:29pm
Quoting blackbeary
{quote} Ok, i have seen price rejecting previous zone on 4H couple days and it broke out and came back seems like consolidating again,and i looked within 1H and seen the break out and felt to go long, so i waited on 5 min for price to consolidate and entered. Thanks for help
But it is still not my method!

Do you wish to use my method or just show something else?
Trade the facts, not opinions.
  • #2,539
  • May 30, 2013 1:35pm May 30, 2013 1:35pm
Quoting Dadas
{quote}Nice show off, priceaction1! Did you use the PTECZ method in any way? If not, please delete your post or edit it so that it is about this thread. I realise and often state that some poeple can Trade with only the chart. However, this thread is not about that. It is about my visual PTECZ Method. It is not the place to show off your results with another method. Though, I do congratulate you on the result!
yes why not ptecz!!!! I use it . for view the market and some levels but at trading chart I love naked!!!
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don't predict direction, but dance with flow of water
  • #2,540
  • May 30, 2013 1:36pm May 30, 2013 1:36pm
i want to learn your method, be kind and guide me , obviously i am not sure what i am doing wrong .
The indicator doesnt work properly on my machine am not on windows, so i draw manually,
are my zones wrong ? or what did i do wrong ?
thank you for help
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