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Trader Dale - daily trading levels

  • #2,581
  • Dec 28, 2016 7:08am Dec 28, 2016 7:08am
Quoting ruma29
{quote} That is POC. maybe will be stopped at 0.7190.
Why would it be stopped out 4 pips in Profit??
  • #2,582
  • Dec 28, 2016 7:09am Dec 28, 2016 7:09am
Quoting XxixixX
Some have asked "how do I determine the levels?" Quite simple 2 things I look for. 1. High volume area 2. Price action that "explodes" away from the volume area. The attached chart shows in the real time aud/usd pair (ugg mised by a couple of pips). 1st. arrow is the combination of volume and "explosion" of price. 2nd arrow shows how price moved back into the area and has been rejected near the level. {image} It is a matter of training your eyes to look for the opportunity. As a side note not all trades will be winners, so manage each trade with...
Do you think placing the level where the start of the huge candle "exploding" downwards? Or somewhere between the high volume area and the wick/open of the explosion candle.
So many in the Commercial section want to make me rich! :o
  • #2,583
  • Dec 28, 2016 7:11am Dec 28, 2016 7:11am
[quote=XxixixX;9384424]Some have asked "how do I determine the levels?" Quite simple 2 things I look for. 1. High volume area 2. Price action that "explodes" away from the volume area. The attached chart shows in the real time aud/usd pair (ugg mised by a couple of pips). 1st. arrow is the combination of volume and "explosion" of price. 2nd arrow shows how price moved back into the area and has been rejected near the level. {image} It is a matter of training your eyes to look for the opportunity. As a side note not all trades will be winners, so manage each trade with minimal draw-down. I risk .5 - .75 (less than 1%) on my trades because I know I will have losses. I want to be able to trade another day [/quote
I this template available?
  • #2,584
  • Dec 28, 2016 7:11am Dec 28, 2016 7:11am
Quoting shimmering
{quote} Why would it be stopped out 4 pips in Profit??
I posted it before price came at 07186 for long ( s/he said)....just after s/he posted ...after that my post was obsoleted because price went down way bellow that 0.7190/7186
  • #2,585
  • Dec 28, 2016 7:25am Dec 28, 2016 7:25am
Quoting FX-Flux
{quote} Do you think placing the level where the start of the huge candle "exploding" downwards? Or somewhere between the high volume area and the wick/open of the explosion candle.
It is one of this things that I have found that works for me. For others it may work just have to do some due diligence to see if it works for them. It can be frustrating at times to where price takes off 1 pip away from you entry point, that is all part of game.
  • #2,586
  • Dec 28, 2016 7:37am Dec 28, 2016 7:37am
on the 21st Trader Dale had EU long at 104.00,,,,is ths still valid from last week?
  • #2,587
  • Dec 28, 2016 7:40am Dec 28, 2016 7:40am
aud/cad level at .9726, looking to go long if it can hit it.
  • #2,588
  • Dec 28, 2016 8:21am Dec 28, 2016 8:21am
Quoting XxixixX
aud/cad level at .9726, looking to go long if it can hit it.
my spread on ACAD is 4.4 pips on one broker :/

for EU and AU its 0.6 and UJ its 0.8


watching this level for tomorrow
Attached Image
  • #2,589
  • Dec 28, 2016 8:36am Dec 28, 2016 8:36am
I have 0.9717 ACAD
  • #2,590
  • Dec 28, 2016 8:47am Dec 28, 2016 8:47am
Taking up audusd @ 0,7165

Nice 10 pips
  • #2,591
  • Dec 28, 2016 8:49am Dec 28, 2016 8:49am
Quoting XxixixX
aud/cad level at .9726, looking to go long if it can hit it.
Good call
  • #2,592
  • Dec 28, 2016 9:05am Dec 28, 2016 9:05am
Quoting Afarensis
{quote} Good call
Thanks even a blind mouse finds a piece of cheese once in awhile
  • #2,593
  • Dec 28, 2016 9:48am Dec 28, 2016 9:48am
Quoting dttsomh
Do people risk more % of account per trade using this methodology? Average 100 Pips per month seems low for a 2% risk per trade.
Do yourself a favour and get rid of the xxx pips mindset. If you follow Dale's trades, you have 12:10 Risk:Reward and hit 7 out of 10 or better. The concept isn't set in stone, you could do your own and come up with something even better...
  • #2,594
  • Dec 28, 2016 10:42am Dec 28, 2016 10:42am
Quoting XxixixX
See a possible level at 1.0408 on eur/usd (hint: look back at what price did on 12/21/16). Also near a round number which adds to confluence along with low news day. Good Luck
Hi Xx, Did I miss something or did you not say what direction you were looking at going with this price level, long or short? By the time I looked at it, it had just reached it going short and kept going for at least 10 pips. Wasn't sure what direction you were hoping for.
  • #2,595
  • Dec 28, 2016 10:47am Dec 28, 2016 10:47am
Quoting Pip-Miner
I build an EA around trader Dave level methodology , so far looks promising turning 5000 to almost 100,000 ran for all of this year. {image}
Nice result, I'm currently build the same EA based on dale method, with accurate risk lots that calculate with sl and tp. Still build it in progress and trade only in brn. If you want to test it with 99.90% tick data, you can pm me.
Risk comes from not knowing what you're doing.
  • #2,596
  • Dec 28, 2016 11:03am Dec 28, 2016 11:03am
Quoting XxixixX
{quote} Thanks even a blind mouse finds a piece of cheese once in awhile
The level you posted worked great.

What do you think going long on USDCAD at 1.3532 though? Or anyone?
  • #2,597
  • Edited 11:33am Dec 28, 2016 11:08am | Edited 11:33am
Quoting januszo
{quote} Guys. Look at poc & volume above avg & possible pivots nearby to be SL - hunted [see HappyMe indi posted here]. BTW what do ya thin k about AU sentiment? Bull Bear? PS also this is end of year so many market participants are absent.Corrections possibly too.



If a level will come out with loss it doesn't mean anything else, but buyers, or sellers just took profits earlier for me and the level lost its interest. Just look now how the level I mentioned earlier became resistance, sellers are trying to move the price down.
I am Bearish.


Sold EUR/USD near .960 stop loss moved +2


Image (http://c16i.imgup.net/EURUSDM5co8614.png)
Update: took profit +15 cheers!
Looking for profitable short term trades ...|
  • #2,598
  • Dec 28, 2016 11:35am Dec 28, 2016 11:35am
Quoting burntcandle
{quote} Hi Xx, Did I miss something or did you not say what direction you were looking at going with this price level, long or short? By the time I looked at it, it had just reached it going short and kept going for at least 10 pips. Wasn't sure what direction you were hoping for.
Sorry was looking to go long. Price tried to bounce however it failed and the round number also failed to hold support.
  • #2,599
  • Dec 28, 2016 11:41am Dec 28, 2016 11:41am
Quoting KhalidY
{quote} The level you posted worked great. What do you think going long on USDCAD at 1.3532 though? Or anyone?
Pretty spot on with that analysis (looking at 1.3531 but close enough). Great minds think alike

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 18 KB
  • #2,600
  • Dec 28, 2016 11:50am Dec 28, 2016 11:50am
Quoting XxixixX
{quote} Sorry was looking to go long. Price tried to bounce however it failed and the round number also failed to hold support.
Okay, thank you. That's what I figured after seeing a few later responses. Still following you, thank you sir.
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