Price Action in Day Trading by Dadas | Page 188 | Forex Factory

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Price Action in Day Trading by Dadas

  • #3,741
  • Jun 3, 2014 11:29pm Jun 3, 2014 11:29pm
Quoting safrash
{quote}... What mean historical ptecz?
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Trade the facts, not opinions.
  • #3,742
  • Jun 4, 2014 3:32am Jun 4, 2014 3:32am
Quoting Dadas
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: {image} Nothing new, the old, usual way! Historical PTECZs. I switched to MN just to check: {image} 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...

What mean historical PTECZ on MN?
  • #3,743
  • Jun 4, 2014 3:41am Jun 4, 2014 3:41am
Quoting Dadas
{quote} {image} I will never understand why people can't tell PTECZ from Break Out/Down Candle. When a Candle Breaks the Open level of the preceeding Candle significantly, that is a Trend Candle, a Break Candle. How complicated is that? Anyway, you can plot your Zone as you wish, just be aware what is what.
Yeah, well there was no image to go by in that post either and all of a sudden you are talking about PTECZ so no wonder I had no idea where to draw the zone.

I appreciate that you annotated my chart, I see now exactly how you are drawing these zones.

This pattern/behaviour seems very common on all timeframes. I like it.

I'll practice finding them and trading them.

Cheers
Healthy, Wealthy & Steady!!
  • #3,744
  • Jun 4, 2014 3:41am Jun 4, 2014 3:41am
Quoting safrash
{quote} What mean historical PTECZ on MN?
It means nothing.
What you are trying to figure out means nothing.
There are no rules in this Market.

PTECZ is local consolidation.
Price can always do 3 things:
1. Consolidate (No Trend),
2. Break Out (Trend Up),
3. Break Down (Trend Down).

What is important in trading are also 3 things:
1. Trend for your trading style,
3. Risk which you can afford to lose,
3. Money & Risk Management.

That is all. There is no other truth(s).

Nothing means anything, because the Market dictates not the chart.

The sooner you realise this fact, the better for you!
Trade the facts, not opinions.
  • #3,745
  • Jun 4, 2014 4:03am Jun 4, 2014 4:03am
Quoting SunnyFx2002
{quote} Yeah, well there was no image to go by in that post either and all of a sudden you are talking about PTECZ so no wonder I had no idea where to draw the zone. I appreciate that you annotated my chart, I see now exactly how you are drawing these zones. This pattern/behaviour seems very common on all timeframes. I like it. I'll practice finding them and trading them. Cheers
Right, that pattern is one of the strongest, because there is already a Break/Trend Candle.
But, it is also very often a false signal.
You must figure out which one is the strong one.

Also, please understand that I am not sitting inside your head.
You are reading material from over a year ago.
This is like eons ago for me.
I have advanced so much during that time, as you will see reading on my story.
I can't follow your steps, now, I can't think your way.
You can't think my way, yet.

So, be patient with my replies, keep on asking when you need clarification.
Trade the facts, not opinions.
  • #3,746
  • Jun 4, 2014 4:15am Jun 4, 2014 4:15am
Quoting Dadas
{quote} It means nothing. What you are trying to figure out means nothing. There are no rules in this Market. PTECZ is local consolidation. Price can always do 3 things: 1. Consolidate (No Trend), 2. Break Out (Trend Up), 3. Break Down (Trend Down). What is important in trading are also 3 things: 1. Trend for your trading style, 3. Risk which you can afford to lose, 3. Money & Risk Management. That is all. There is no other truth(s). Nothing means anything, because the Market dictates not the chart. The sooner you realise this fact, the better for...

Dear Dadas
I'm reading your thread about week, I observe some contradictions. Earlier you said better choose the last PTESCZ and wider, where there was a great volatility, now you say means nothing. The examples you choose or the most maximum or minimum. What is better?
  • #3,747
  • Edited 5:57am Jun 4, 2014 5:45am | Edited 5:57am
Quoting safrash
{quote} Dear Dadas I'm reading your thread about week, I observe some contradictions. Earlier you said better choose the last PTESCZ and wider, where there was a great volatility, now you say means nothing. The examples you choose or the most maximum or minimum. What is better?
Better is that which works best for you.

There is nothing "better" or "worse" objectively.
Every person is individual and must find his or her own way that works for them.
I have written about this many times in my thread.

I am also telling you one more time, that you are reading material from more than a year ago.
I am not living in one year ago.
I am living and trading now, in the present!

You can follow my thread from the begining and learn as you go on and practise.
Or, you can forget it and go somewhere else.
I told you before, 2 or 3 times, that you need 3 years to go through the whole process.

You are looking for answers and truths, but there aren't any!!!

The market will move the price where it will move it, and there is nothing we can do about it.
No level means anything, no Price Action means anything, they are just signals, but it is your choice to act.

I am tired of trying to make you understand the obvious!

Trend+Risk+Money Management=Profit
Trade the facts, not opinions.
  • #3,748
  • Jun 4, 2014 7:51am Jun 4, 2014 7:51am
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  • #3,749
  • Jun 4, 2014 7:57am Jun 4, 2014 7:57am
Quoting safrash
{image}
IMHO very ugly color composition.
Otherwise, history of Price Action.
Trade the facts, not opinions.
  • #3,750
  • Jun 4, 2014 8:05am Jun 4, 2014 8:05am
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Trade the facts, not opinions.
  • #3,751
  • Jun 4, 2014 8:28am Jun 4, 2014 8:28am
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  • #3,752
  • Jun 4, 2014 8:36am Jun 4, 2014 8:36am
Quoting safrash
{image}
Safrash, stop posting charts.
I've got chart and I can see them.
Post your trades on the charts.
Trade the facts, not opinions.
  • #3,753
  • Jun 4, 2014 8:43am Jun 4, 2014 8:43am
EURJPY LONG
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  • #3,754
  • Jun 4, 2014 8:49am Jun 4, 2014 8:49am
Quoting safrash
EURJPY LONG {image}
Post your trade when it's closed, like I told you before.
Trade the facts, not opinions.
  • #3,755
  • Jun 4, 2014 9:00am Jun 4, 2014 9:00am
GPBCHF SHORT

PS. Mistake in chart - TRADE SHORT
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  • #3,756
  • Jun 4, 2014 10:59am Jun 4, 2014 10:59am
Quoting safrash
GPBCHF SHORT PS. Mistake in chart - TRADE SHORT {image}
So, safrash, how are your trade results???
Both loss, or maybe you don't have SL and you're wishing???

If you want to play it this way, I won't help you any more.
Trade the facts, not opinions.
  • #3,757
  • Jun 4, 2014 11:10am Jun 4, 2014 11:10am
Quoting Dadas
{quote} So, safrash, how are your trade results??? Both loss, or maybe you don't have SL and you're wishing??? If you want to play it this way, I won't help you any more.
No I am not playing, I am trading and watching price, SL and TP on the chart
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  • #3,758
  • Jun 4, 2014 11:15am Jun 4, 2014 11:15am
USD/JPY LONG
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  • #3,759
  • Jun 4, 2014 12:26pm Jun 4, 2014 12:26pm
Quoting safrash
{quote} No I am not playing, I am trading and watching price, SL and TP on the chart {image}
When did you open the SL on EURJPY?
When Price started going against you?
Because it isn't there on your first image.
You never move your SL to more Loss!!!
You must always place your SL immediately after opening the trade.
Still, this never gives you any guarantee that your SL will be placed.
Sometimes the price will move so quickly against you,
that you will not be able to place SL, like 100 Pips in a matter of seconds, or shorter.

What about the GBPCHF trade?
Trade the facts, not opinions.
  • #3,760
  • Jun 4, 2014 12:39pm Jun 4, 2014 12:39pm
Quoting Dadas
{quote} When did you open the SL on EURJPY? When Price started going against you? Because it isn't there on your first image. You never move your SL to more Loss!!! You must always place your SL immediately after opening the trade. Still, this never gives you any guarantee that your SL will be placed. Sometimes the price will move so quickly against you, that you will not be able to place SL, like 100 Pips in a matter of seconds, or shorter. What about the GBPCHF trade?

Yes, you right I have placed SL after second bearish candle go to PTECSZ.
Yesterday on EURUSD quickly move against me.
GPBCHF lossed
But what can mistake in USDJPY? My Enter was correct, I think
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