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Trader Dale - daily trading levels

  • #3,261
  • Jan 10, 2017 12:01pm Jan 10, 2017 12:01pm
Quoting NaughtyPip
{quote} Good call on swissy i +10
Very Nice!!!!, It was 1 pip shy of entry here, current sentiment candle is in your favor, 2nd target still in play at 1.0135.
  • #3,262
  • Jan 10, 2017 12:05pm Jan 10, 2017 12:05pm
Quoting XxixixX
{quote} Very Nice!!!!, It was 1 pip shy of entry here, current sentiment candle is in your favor, 2nd target still in play at 1.0135.
I'm out now. Just took the 10. Waiting on eurusd at 1.0537 now. Also what do you think of audusd at 0.7347 - very good level on m15 and high vol area on my profile...
  • #3,263
  • Jan 10, 2017 12:22pm Jan 10, 2017 12:22pm
Perhaps an opportunity for a swing trade on EU - On my feed I have a Weekly POC at 1.0531 which is close to dales daily level at 1.0537....

Attached Image (click to enlarge)
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  • #3,264
  • Jan 10, 2017 1:03pm Jan 10, 2017 1:03pm
Quoting NaughtyPip
{quote} I'm out now. Just took the 10. Waiting on eurusd at 1.0537 now. Also what do you think of audusd at 0.7347 - very good level on m15 and high vol area on my profile...
I have found in my due diligence 30 min time frames have been more consistent with my trades hitting the +10 (at least and runners hitting their 2nd targets). I see the aud/usd level you mention, however it was created today and like to see levels not touched for about a day. IMHO the level you mentioned, I am not seeing enough vol traded in that area to warrant a valid setup, but again that is just my perspective.

Attached Image
  • #3,265
  • Edited 4:03pm Jan 10, 2017 2:09pm | Edited 4:03pm
Quoting XxixixX
Looking to long on EUR/GBP at .8671 / Stop -12 / !st target is +10 if hits move stops to B/E +1 / 2nd target is .8690. Looking to short USD/CHF ay 1.0179 / Stop -12 / 1st target is +10 if hits move stops to B/E +1 / 2nd target is 1.0135. The 2nd target may adjust based on changing sentiment will update if that changes. Setups are good til EOD
nice job Xx. I wish I didn't have a day job, totally missed the ones that hit so far. Are you still in for EUR/GBP long at .8690? looks close now....

nevermind
  • #3,266
  • Jan 10, 2017 4:16pm Jan 10, 2017 4:16pm
Quoting Trader-Dale
eur/usd was a bit tricky. I considered three ways to approach it. 1. - level tested 3 pips sooner (and made 12 pips reaction) = don't trade anymore. 2. be agressive and trade the level = loss. I chose the third approach: 3. Wait a little bit higher for the short (because level was already sort of tested). Because there was wider short zone and eur/usd is in strong downtrend - long term view I went short around 5 pips higher. When I was about 8 pips in open profit I moved my SL to BE which was later hit. My 10 pips profit was missed by 0,3 pips....
Your first approach was inconsistent with your rules. The level was tested more than 3.0 pips sooner = don't care, based on your own rules.
  • #3,267
  • Jan 10, 2017 4:19pm Jan 10, 2017 4:19pm
Here is the resulting levels of tonight's preparation session:
I decided to dump all the levels that I found. Need to be careful here and only trade the best of best.

EURUSD Long1 @1.0539
EURUSD Long2 @1.0527
EURUSD Short1 @1.05775
EURUSD Short2 @1.0594
AUDUSD Long1 @0.7348
AUDUSD Long2 @0.7338
AUDUSD Long3 @0.7318
USDCAD Long1 @1.3216
USDCAD Long2 @1.3206
USDCAD Short1 @1.3266
USDJPY Long1 @115.43
USDJPY Long2 @115.20
USDJPY Short1 @115.92
USDJPY Short2 @116.44
USDJPY Short3 @116.67

Akif,
  • #3,268
  • Jan 10, 2017 4:32pm Jan 10, 2017 4:32pm
Quoting burntcandle
{quote} nice job Xx. I wish I didn't have a day job, totally missed the ones that hit so far. Are you still in for EUR/GBP long at .8690? looks close now.... nevermind
I caught this one, the intraday POC has changed to .8683, so for myself looking to take +10 and will exit the trade completely. This will be a slow brew trade based on the time of day like watching paint dry.
  • #3,269
  • Jan 10, 2017 6:33pm Jan 10, 2017 6:33pm
Quoting XxixixX
{quote} I caught this one, the intraday POC has changed to .8683, so for myself looking to take +10 and will exit the trade completely. This will be a slow brew trade based on the time of day like watching paint dry.
I missed getting in this one, but I think I'm glad. -20pips
  • #3,270
  • Jan 10, 2017 6:35pm Jan 10, 2017 6:35pm
Quoting akift
Here is the resulting levels of tonight's preparation session: I decided to dump all the levels that I found. Need to be careful here and only trade the best of best. EURUSD Long1 @1.0539 EURUSD Long2 @1.0527 EURUSD Short1 @1.05775 EURUSD Short2 @1.0594 AUDUSD Long1 @0.7348 AUDUSD Long2 @0.7338 AUDUSD Long3 @0.7318 USDCAD Long1 @1.3216 USDCAD Long2 @1.3206 USDCAD Short1 @1.3266 USDJPY Long1 @115.43 USDJPY Long2 @115.20 USDJPY Short1 @115.92 USDJPY Short2 @116.44 USDJPY Short3 @116.67 Akif,
Nice but which are the best of the best? Why you did not choose only the best, lets say tradable ones to post here?

To evaluate the level's quality I assess it's PA action, volume, if I am close to the Dale's... then I give the points from 1 to 10. Now I realized that I never gave more than 8 points I probably need more confidence.

(nothing against your post, but I think the cherry-picking is the crucial thing with these levels)

For example these are my best levels from today's session for tomorrow right now:

EUR/USD short 1.0579 (6/10)
AUD/USD long 0.73435 (7/10)
USD/CAD long 1.32075 (8/10)
USD/JPY long 115.42 (3/10) not sure if I will trade it
  • #3,271
  • Jan 10, 2017 8:21pm Jan 10, 2017 8:21pm
Quoting XxixixX
Looking to long on EUR/GBP at .8671 / Stop -12 / !st target is +10 if hits move stops to B/E +1 / 2nd target is .8690. Looking to short USD/CHF ay 1.0179 / Stop -12 / 1st target is +10 if hits move stops to B/E +1 / 2nd target is 1.0135. The 2nd target may adjust based on changing sentiment will update if that changes. Setups are good til EOD
Update: Flat EUR/GBP -12
  • #3,272
  • Edited 10:20pm Jan 10, 2017 10:06pm | Edited 10:20pm
Quoting NaughtyPip
Perhaps an opportunity for a swing trade on EU - On my feed I have a Weekly POC at 1.0531 which is close to dales daily level at 1.0537.... 2a853056e92843fcafd9ef17b89fd619.png;2134017 {image}
You present an interesting idea that could be factored into adding to the current levels (another level of support and resistance). Seeing this added level, we have an idea where larger pools of money are waiting. Other benefits include added confluence or possible targets for runners and such, adds to another element of the strength of levels.

Below are a couple of charts (4hr and 30 min) to help visualize how powerful larger time frame levels can be. Also add the confluence of a round number (.7300) made this a great level to trade off of.

The arrow represents how at around 1:30 pm you would have entered. The dashed line represents 4hr time frame and the solid line represent the 30 min time frame.

Attached Image (click to enlarge)
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The more areas of confluence that can be factored into trades, the greater the chances of seeing consistent winning trades in a row.

“Don't doubt yourself, that's what haters are for.”
― Turcois Ominek (http://www.goodreads.com/author/show/7161977.Turcois_Ominek)
  • #3,273
  • Jan 10, 2017 10:24pm Jan 10, 2017 10:24pm
EU 1.0538 was a tp. [i entered 1 pip later]
  • #3,274
  • Jan 10, 2017 10:27pm Jan 10, 2017 10:27pm
Quoting akift
Here is the resulting levels of tonight's preparation session: I decided to dump all the levels that I found. Need to be careful here and only trade the best of best. EURUSD Long1 @1.0539 EURUSD Long2 @1.0527 EURUSD Short1 @1.05775 EURUSD Short2 @1.0594 AUDUSD Long1 @0.7348 AUDUSD Long2 @0.7338 AUDUSD Long3 @0.7318 USDCAD Long1 @1.3216 USDCAD Long2 @1.3206 USDCAD Short1 @1.3266 USDJPY Long1 @115.43 USDJPY Long2 @115.20 USDJPY Short1 @115.92 USDJPY Short2 @116.44 USDJPY Short3 @116.67 Akif,
gl with your levels , and congrats to be so close to Dale's last time!
  • #3,275
  • Jan 10, 2017 10:42pm Jan 10, 2017 10:42pm
TP on EURUSD
  • #3,276
  • Jan 10, 2017 10:56pm Jan 10, 2017 10:56pm
Hi guys. The indicator that is blue on the chart of Naughty pips en brownish on XXIXIXX, can you help with that indicator. I downloaded indicators but this one do not show. Is it possible to provide only the one indicator again. Thanks in advance.
  • #3,277
  • Jan 10, 2017 11:16pm Jan 10, 2017 11:16pm
Quoting Koulus
{quote} Nice but which are the best of the best? Why you did not choose only the best, lets say tradable ones to post here? To evaluate the level's quality I assess it's PA action, volume, if I am close to the Dale's... then I give the points from 1 to 10. Now I realized that I never gave more than 8 points I probably need more confidence. (nothing against your post, but I think the cherry-picking is the crucial thing with these levels) For example these are my best levels from today's session for tomorrow right now: EUR/USD short...
Interesting, may I ask why do you pick EUR/USD short 1.0579 , based on which timeframe? I didn't see base there on 30m chart.
  • #3,278
  • Jan 10, 2017 11:20pm Jan 10, 2017 11:20pm
Quoting Rfs199
TP on EURUSD
Same here. It didnt get away this time. Really nice +10.
Thansk Dale.
Akif,

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM5-Perfect.png Size: 45 KB
  • #3,279
  • Edited Jan 11, 2017 12:27am Jan 10, 2017 11:38pm | Edited Jan 11, 2017 12:27am
Guys,
What was your USDJPY POC level for yesterday assuming NY close closes the day?
It was 115.938 on my charts and today you can barely see the reaction only on M1 charts.
This clearly shows that you can not blindly trade yesterday's POC level.
But honestly if not the best, that didnt look too bad to go short here.
What would be your warning signal here?
What would be the other things to look out?
Thanks.

Akif,

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1-No-POC-reaction.png Size: 46 KB

EDIT:
Later in the day it is acting like a S/R Flip Zone and oscillates around the level.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5-Oscillations.png Size: 49 KB
  • #3,280
  • Edited 1:15am Jan 11, 2017 12:35am | Edited 1:15am
Quoting akift
Guys, What was your USDJPY POC level for yesterday assuming NY close closes the day? It was 115.938 on my charts and today you can barely see the reaction only on M1 charts. This clearly shows that you can not blindly trade yesterday's POC level. But honestly if not the best, that didnt look too bad to go short here. What would be your warning signal here? What would be the other things to look out? Thanks. Akif, USDJPYM1-No-POC-reaction.png;2134585 {image}
Look at it from different angle.
First :
mine vpoc was like 91 [forex,tpo and market profile dwm indi from post#1 , what src/broker and indis u use?].
second :
UJ missed a level around 1.00 GMT2
Touched 115.886 and went down 21 pips.
So this level should be considered as tested.

Hope im right and not smelling like a smartass
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