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Trader Dale - daily trading levels

  • #3,761
  • Jan 17, 2017 11:51pm Jan 17, 2017 11:51pm
Quoting akift
{quote} Welcome Omar, I posted the indicator a few pages back. No setup needed. add indicator to a chart and draw a rectangle. That's it. Akif,
Hi Akift, sorry I only come and go in this chat room, and I'm still not getting how you guys trade and how you determine your levels.
Do you have any written document that explains everything?
Also what is this indicator you speak of? I only use MT4, is this indicator available in this platform?
What does this indicator do and how to use it?
  • #3,762
  • Jan 18, 2017 12:32am Jan 18, 2017 12:32am
Quoting akift
{quote}The most wanted colorful volume profiling tool for MT4. Add it to your chart and draw anywhere a rectangle it automatically detects it and make a nice colorful profile inside the rectangle for you. Enjoy! Akif_Rectangle_Volume_Profile_v1.ex4;2142423 Akif, {file}
You can find the indicator at the post above.
For instructions about this thread please read the first post.

Akif,
  • #3,763
  • Jan 18, 2017 1:00am Jan 18, 2017 1:00am
Quoting akift
{quote} You can find the indicator at the post above. For instructions about this thread please read the first post. Akif,
Thank you Akift!

I applied it to the daily chart of NZDUSD.
So the highest burst is the strongest level?
I've drawn it here with a pink line.

I hope I'm using your very nice indicator correctly.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.JPG Size: 121 KB
  • #3,764
  • Jan 18, 2017 1:10am Jan 18, 2017 1:10am
Quoting elvenq
{quote} Thank you Akift! I applied it to the daily chart of NZDUSD. So the highest burst is the strongest level? I've drawn it here with a pink line. I hope I'm using your very nice indicator correctly. cheers {image}
Highest burst is just the "most traded level" "over that period"
It doesnt mean strongest (i dont know actually what you mean by that)
Just dont expect an immediate rejection blindly at the most traded level(POC).
Usually when the volume profile looks symmetric price tends to rotate around that POC level like a sinusoidal function.

Anyway, to make it short.
Volume profile just gives you another perspective of what is already laid out as price chart.

Akif,
  • #3,765
  • Jan 18, 2017 2:28am Jan 18, 2017 2:28am
Intraday levels for 18.1.2017
I use PT 10 pips, SL 12 pips.
Happy trading
*Basic rules about trading my levels and some mt4 indicators are here:
http://www.forexfactory.com/showthread.php?p=9162014#post9162014
Attached Image

Attached Image (click to enlarge)
Click to Enlarge Name: 18.1. print.png Size: 235 KB
  • #3,766
  • Jan 18, 2017 2:48am Jan 18, 2017 2:48am
Quoting Trader-Dale
{quote} sure, you can enter again if you didntt manage it for the first time.
Thank Dale! I have entered it again. It is running perfectly. One more thing, would you close that trade just before ECB happens? Because US news recently drove market so crazy.
Hope to know your idea and thank for your intraday level today.

Happy trading and stay safe.
Joker
  • #3,767
  • Jan 18, 2017 2:55am Jan 18, 2017 2:55am
Quoting jokerdoncry
{quote} Thank Dale! I have entered it again. It is running perfectly. One more thing, would you close that trade just before ECB happens? Because US news recently drove market so crazy. Hope to know your idea and thank for your intraday level today. Happy trading and stay safe. Joker
Of course I will close it. Today or tomorrow before the news.
  • #3,768
  • Jan 18, 2017 3:03am Jan 18, 2017 3:03am
Quoting radaway
To Dale and to all other stalwarts This is one of Dale's swing levels and with his explanation. My question is in the picture itself. would love to know 'why' the pink circle makes more sence than when the same explanation is also valid for an 'another area' in the same graph. Thanks for any 'Learning' info here . Cheers {image}
Thanks very much for your question. You are very observant and already have some MP skills as far I can tell. This level you pointed out is pretty good. I didn't mentioned just because it is quite far. I would enter about 79.00. SL is bit complicated here. 76.60 seems like a SL I would use.
  • #3,769
  • Jan 18, 2017 3:06am Jan 18, 2017 3:06am
Quoting kenlionheart
Thank you T-D. May I ask: - Are these the usual swing trades or are they "special" once a year swing trades? (I mean are these the same as your usual swings?) - What is the win rate in % on these? Thank you ever so much once again.
They are my usual swings I just don't publish them and now I thought I would give you all a present. They have about 70 % winning in long term.
  • #3,770
  • Jan 18, 2017 3:16am Jan 18, 2017 3:16am
Quoting Trader-Dale
Intraday levels for 18.1.2017 I use PT 10 pips, SL 12 pips. Happy trading *Basic rules about trading my levels and some mt4 indicators are here: http://www.forexfactory.com/showthread.php?p=9162014#post9162014 18.1. table.png;2144792 18.1. print.png;2144790 {image} {image}
Hi Dale,
I would guess the swing short EURUSD (which is at least running for myself) with a TP = 1.05521 simply stays "as is", although your intraday levels EURUSD indicate long (even twice: 1,0664 and 1,0645). Just wondering. Is there any case, where you (maybe temporarily) would pause and reenter a swing due to contradicting intraday targets (except red news)? Somehow it must be a matter of confidence (or persepctive) ?
As always a thank you in advance.
  • #3,771
  • Jan 18, 2017 3:19am Jan 18, 2017 3:19am
Dale

I have been using tradingview for charts in the trail period and like it a lot, my question is does anyone use it for trading?, I can't get to trade on fxcm?
Every dog has his day
  • #3,772
  • Jan 18, 2017 3:20am Jan 18, 2017 3:20am
Quoting jokerdoncry
{quote} Thank Dale! I have entered it again. It is running perfectly. One more thing, would you close that trade just before ECB happens? Because US news recently drove market so crazy. Hope to know your idea and thank for your intraday level today. Happy trading and stay safe. Joker
Hi, could you or anyone else message me the swing trades. I don't have my computer functionality and on the phone it is hard to do it.
  • #3,773
  • Jan 18, 2017 3:55am Jan 18, 2017 3:55am
Quoting Trader-Dale
{quote} Funny thing - I I won't move it. But this is only my approach a and it is not the only good one. There are several ways how to manage the trade. For example you can move SL to BE or below the reaction (for long trade) when the price reaches 60-80 % PT (this depends on your risk aversion and psychology mostly).
Thanks for that info. Seems like you put alot of effort into deriving your levels and trading not to mention your vast experience - wanted to ask do you trade for a living or do you balance this with a day job/business as well?
  • #3,774
  • Jan 18, 2017 3:56am Jan 18, 2017 3:56am
Quoting elvenq
{quote} Thank you Akift! I applied it to the daily chart of NZDUSD. So the highest burst is the strongest level? I've drawn it here with a pink line. I hope I'm using your very nice indicator correctly. cheers {image}
Hi, what's indicator you use in mt4 for volume profile?
I can't attach the volume profile in trading view. Is the indicator only for pro member?
Risk comes from not knowing what you're doing.
  • #3,775
  • Jan 18, 2017 4:00am Jan 18, 2017 4:00am
Quoting dragonexpert
{quote} Hi, what's indicator you use in mt4 for volume profile? I can't attach the volume profile in trading view. Is the indicator only for pro member?
Yes, in Tradingview only for Pro.
  • #3,776
  • Jan 18, 2017 4:05am Jan 18, 2017 4:05am
Quoting Trader-Dale
Intraday levels for 18.1.2017 I use PT 10 pips, SL 12 pips. Happy trading *Basic rules about trading my levels and some mt4 indicators are here: http://www.forexfactory.com/showthread.php?p=9162014#post9162014 18.1. table.png;2144792 18.1. print.png;2144790 {image} {image}
Hello Dale,

Would you mind to explain why did you take the level on usd/cad today for 1.3113 short? I could get the others but just not this one. Is this based on price action and order flow instead?

Thanks!
  • #3,777
  • Jan 18, 2017 4:09am Jan 18, 2017 4:09am
Quoting dragonexpert
{quote} Hi, what's indicator you use in mt4 for volume profile? I can't attach the volume profile in trading view. Is the indicator only for pro member?
you are programmer, proficiency in MT4? Really? since when one could attach .mq4 or .ex4 in web application?


Quoting HemDir
{quote} Yes, in Tradingview only for Pro.
  • #3,778
  • Jan 18, 2017 4:41am Jan 18, 2017 4:41am
Quoting dragonexpert
{quote} Hi, what's indicator you use in mt4 for volume profile? I can't attach the volume profile in trading view. Is the indicator only for pro member?
I don't think Dale uses MT4 at all. These indicators were provided by FF members and he included them in the first post just as a courtesy
So many in the Commercial section want to make me rich! :o
  • #3,779
  • Jan 18, 2017 4:50am Jan 18, 2017 4:50am
Quoting ruma29
{quote} you are programmer, proficiency in MT4? Really? since when one could attach .mq4 or .ex4 in web application? {quote}
I don't mean to attach mq4,ex4 on tradingview lol. It's impossible. I think you misunderstanding my post.
It's two different statement and question.
There is member here who post mt4 chart that have same graphic colour volume profile with tradingview.
Risk comes from not knowing what you're doing.
  • #3,780
  • Jan 18, 2017 4:55am Jan 18, 2017 4:55am
NZD/CAD swing is getting near BUT I won't enter the position because there is BOC meeting today (high volatility) If the level is still valid after the BOC event I will enter the trade.
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