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Trader Dale - daily trading levels

  • #1,621
  • Dec 9, 2016 8:25am Dec 9, 2016 8:25am
Hi Dale,

Thank you again for your levels! I took both trades today. EU with just half of the position with SL 15 pips due to strong selling activity (very risky one, but ends with a small profit).

Quoting Lavanda
{quote} After such a strong movement from EU? Haven't you got a new level for short below 1,0630?
I am looking for the level attached (futures 6E-12-16). It's weekly value area low and also there is some volume from today and yesterday.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 54 KB
  • #1,622
  • Dec 9, 2016 8:36am Dec 9, 2016 8:36am
Quoting pipsandbits
Hi Dale. Using price action, and MP indicators and S&R, I can define a level quite similar to yours, but not so accurate like you find them. I guess it is due to the fact that my MP indicators are based on my broker data. Also I find some other levels, quite defined that sometimes work but less efficient than yours. The levels I find using my MP Indi are moved from yours from 2/3 pips until 10/12. So not enough accurate using an SL of 12 p and a TP of 10.What kind of extra tool I will need to improve?
I'm the same - my guess is its something to do with going into the level on a 5 min chart and finding the point where price moved impulsively out of the zone.. but could be completely wrong
  • #1,623
  • Dec 9, 2016 8:51am Dec 9, 2016 8:51am
Quoting Lavanda
{quote} Be careful with EU longs, there has been news about ESM is not going to give money for Italians Banks' Rescue Plan.
 
Is that good or bad for E??
May wait and decide... 
 
Beware of robber banks (RB), bad advisors.
  • #1,624
  • Dec 9, 2016 8:55am Dec 9, 2016 8:55am
Quoting Not-KPMG
{quote}  Is that good or bad for E?? May wait and decide... Â
The strong movement of this morning has been at moment's news. Now momentum is over. Waiting to know if Italy is going to rescue Monte Paschi.
  • #1,625
  • Dec 9, 2016 9:01am Dec 9, 2016 9:01am
Quoting pipsandbits
Hi Dale. Using price action, and MP indicators and S&R, I can define a level quite similar to yours, but not so accurate like you find them. I guess it is due to the fact that my MP indicators are based on my broker data. Also I find some other levels, quite defined that sometimes work but less efficient than yours. The levels I find using my MP Indi are moved from yours from 2/3 pips until 10/12. So not enough accurate using an SL of 12 p and a TP of 10.What kind of extra tool I will need to improve?
I think it is not about some "special" tool. It could be just a bit more experience. I also use orderflow which can help I think but not that much as you would think, probably.
  • #1,626
  • Dec 9, 2016 9:04am Dec 9, 2016 9:04am
Quoting NaughtyPip
{quote} I'm the same - my guess is its something to do with going into the level on a 5 min chart and finding the point where price moved impulsively out of the zone.. but could be completely wrong
Good thinking! An idea worth trying I would say. I myself dont do that but it ccould help.
  • #1,627
  • Dec 9, 2016 9:16am Dec 9, 2016 9:16am
Quoting Trader-Dale
Intraday levels for 9.12.2016 PT 10 pips, SL 12 pips. Happy trading {image} {image}
Hi Dale,
Thank for sharing.
I have a question about VPSV indicator you are using.
Does it change value of the volume row when you change time frame?
For example, if you change TF to 5 min or 1 hour, do those rows change a bit or exactly same to TF 30 min?
Thank you.
  • #1,628
  • Dec 9, 2016 9:34am Dec 9, 2016 9:34am
Quoting Trader-Dale
{quote} I think it is not about some "special" tool. It could be just a bit more experience. I also use orderflow which can help I think but not that much as you would think, probably.
Thanks! I will read about orderflow.
  • #1,629
  • Dec 9, 2016 10:45am Dec 9, 2016 10:45am
Quoting Trader-Dale
Actually I took the 2nd test. Little bit of orderflow magic, too quick to let you know guys. Maybe next time. {image}
hi Trader Dale, could you plz explain this to me.

I am talking about Post# 1540.
thanks.
  • #1,630
  • Dec 9, 2016 11:21am Dec 9, 2016 11:21am
Anybody long AU with me?
  • #1,631
  • Dec 9, 2016 11:28am Dec 9, 2016 11:28am
Quoting majrou666
Anybody long AU with me?
I'm with you on this from .74365
  • #1,632
  • Dec 9, 2016 11:36am Dec 9, 2016 11:36am
HI. Here you will never be alone.
  • #1,633
  • Dec 9, 2016 11:36am Dec 9, 2016 11:36am
Quoting majrou666
Anybody long AU with me?
yup travelling along too
  • #1,634
  • Dec 9, 2016 1:38pm Dec 9, 2016 1:38pm
Quoting majrou666
Anybody long AU with me?
I do.
secured be on AU.
  • #1,635
  • Dec 9, 2016 1:55pm Dec 9, 2016 1:55pm
Another winner, AUD/USD Long just hit TP.
  • #1,636
  • Dec 9, 2016 1:57pm Dec 9, 2016 1:57pm
Quoting Rfs199
Another winner, AUD/USD Long just hit TP.
True story Rfs 199 Thank you Trader-Dale.
  • #1,637
  • Dec 9, 2016 2:03pm Dec 9, 2016 2:03pm
aud/usd 2nd level +10 pips profit.
That's it guys for the week! Enjoy your weekend and don't forget to celebrate this week's nice profits!
Attached Image (click to enlarge)
Click to Enlarge Name: 9.12. aud profit 2.png Size: 43 KB
  • #1,638
  • Dec 9, 2016 2:24pm Dec 9, 2016 2:24pm
Quoting Trader-Dale
aud/usd 2nd level +10 pips profit. That's it guys for the week! Enjoy your weekend and don't forget to celebrate this week's nice profits! {image}
Thanks for sharing Trader-Dale, yes time for celebration and a nice weekend.
Excellence is not an act but a habit.
  • #1,639
  • Dec 9, 2016 10:31pm Dec 9, 2016 10:31pm
Quoting Trader-Dale
{quote} Thank you, Iam glad you like my trades. It is ok to have beginners here and Iam glad you help them guys. I have not considered having a bigger SL but you can consider having a bigger profit target if you want. Sometimes my levels literary turn the market so it is not a bad idea. But you must consider that it will worsen you risk reward ratio and that can be very bad for some traders psychology. Thats why I prefer trades that are around RRR 1:1
hi I am new to forex too. May I know what does it mean by RRR 1:1? Following your trade calls, where should the TP level be? 10 pips away? And how much volume should I trade?
  • #1,640
  • Dec 10, 2016 3:21am Dec 10, 2016 3:21am
just created an account to say: thank you trader Dale! your different approach is very helpful and the results are just impressive
Reading coffee grounds..
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