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Trader Dale - daily trading levels

  • #4,041
  • Jan 23, 2017 11:07am Jan 23, 2017 11:07am
For stop loss hunting you can read liquidity searching, there is no doubt that stop losses are used by big traders in that you can usually tell where there will be a heavy load of stops, if these can be broken thru it can cause a significant move, they are also very useful for filling large orders that need to be executed. Do brokers hunt our stops? I won't say it doesn't happen but usually it's because our stops are in obvious places that they get removed, not because we are be targeted.
  • #4,042
  • Jan 23, 2017 11:29am Jan 23, 2017 11:29am
Quoting Prax
{quote} What do people on here think about SL hunting? Does it exist? Is it a search for liquidity? I personally don't think it happens with reputable brokers but I do think it happens when a big player is searching for liquidity - question is how do we use that to our advantage?
I agree with Ziggy with the added (newby) thought around areas that regularly invoke a response did in the past generate a big reaction such as psychological numbers. As a personal thought, Looking at the Asia session for instance and how slow that can move in general if there was hunting why not do it during the Asia session whilst us in the West are fast asleep?
As to using it to our advantage, this is the teachings of Dale in this forum. I have certainly learnt a lot over the past few months reading his forum and Ziggy's contribution to.
Not sure if anyone agrees's but are of course we are taking an educated guess when placing a trade and hope the Forex market is kind to us that day.
Take 1 step forward, two small steps back
  • #4,043
  • Jan 23, 2017 11:34am Jan 23, 2017 11:34am
Quoting DrBeercan
{quote} if anyone agrees's but are of course we are taking an educated guess when placing a trade and hope the Forex market is kind to us that day.
You are almost certainly right, I just prefer to think of it that we do our homework and find the high probability location where our trades have the best opportunity of taking a slice out of the market That's what I tell my wife anyway............ can't have her believing it's guesswork
  • #4,044
  • Jan 23, 2017 12:10pm Jan 23, 2017 12:10pm
Quoting radaway
{quote} Hi swingtrade65 I get to see this as a default EN chart , (but nothing like what you show here, on tradingview -composite vol. and coloured) any chance you can just run me/us down fast, on how to get the same V.P stuff that you have got displayed on yours. Thanks {image}
do you have the PRO version?
Plan, Prepare, Execute, Repeat
  • #4,045
  • Edited 1:49pm Jan 23, 2017 12:38pm | Edited 1:49pm
Quoting Prax
{quote} What do people on here think about SL hunting? Does it exist? Is it a search for liquidity? I personally don't think it happens with reputable brokers but I do think it happens when a big player is searching for liquidity - question is how do we use that to our advantage?
here u have.
bull market eurusd 19th Jan
multiple pivot point SLs swept , and then market goes up.


Btw. link to pivots indi :

http://www.forexfactory.com/showthread.php?p=9176985#post9176985
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  • #4,046
  • Jan 23, 2017 1:40pm Jan 23, 2017 1:40pm
Intraday levels for 24.1.2017
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
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  • #4,047
  • Jan 23, 2017 1:48pm Jan 23, 2017 1:48pm
UCAD turned 1 pip earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM1.png Size: 34 KB

Akif,
  • #4,048
  • Jan 23, 2017 1:50pm Jan 23, 2017 1:50pm
Quoting akift
UCAD turned 1 pip earlier. USDCADM1.png;2152309 Akif, {image}
Yeah, so close. The level was good though , the reaction was really fast.
  • #4,049
  • Jan 23, 2017 1:53pm Jan 23, 2017 1:53pm
Quoting ziggy
{quote} You are almost certainly right, I just prefer to think of it that we do our homework and find the high probability location where our trades have the best opportunity of taking a slice out of the market That's what I tell my wife anyway............ can't have her believing it's guesswork
Same boat here buddy! We certainly look crazy whilst we sit here staring at charts believing we can live the dream if we just get one more pip!
Take 1 step forward, two small steps back
  • #4,050
  • Jan 23, 2017 2:00pm Jan 23, 2017 2:00pm
Yes, frustrating to see turningless than 1 pip sooner.
Once again, Dale, unbelievable how exact your level was once again, hats off!!
  • #4,051
  • Jan 23, 2017 2:11pm Jan 23, 2017 2:11pm
Quoting akift
UCAD turned 1 pip earlier. USDCADM1.png;2152309 Akif, {image}
Same here, I just stepped away from my PC for a few minutes and it was gone. I might of been tempted to open it if I saw it as it was a clear bounce. Ah well there will be other days.

Great work Dale :-)
Take 1 step forward, two small steps back
  • #4,052
  • Jan 23, 2017 2:11pm Jan 23, 2017 2:11pm
Quoting HemDir
Yes, frustrating to see turningless than 1 pip sooner. Once again, Dale, unbelievable how exact your level was once again, hats off!!
It was more than 1.5 pip.


Maybe 1.5 plus spread.


Next bus is on its way!
  • #4,053
  • Jan 23, 2017 2:11pm Jan 23, 2017 2:11pm
Since this was a buy limit I gave my order 2 pips above the level at 1.3221
it still didnt get triggered...
What I couldnt think of that spreads are getting wider at night.
Right now my spread on USDCAD around 4 pips.
With 4 pip spread targeting 10 pips doesnt sound right anyway.

Akif,
  • #4,054
  • Jan 23, 2017 2:27pm Jan 23, 2017 2:27pm
Anybody still dare to take it?
Akif,
  • #4,055
  • Jan 23, 2017 2:33pm Jan 23, 2017 2:33pm
Quoting akift
Anybody still dare to take it? Akif,
With almost a 5 pip spread on Oanda I will let the bus go as we have a saying in the UK miss the first bus another 3 will be along shortly! Am sure Ziggy will agree!
Take 1 step forward, two small steps back
  • #4,056
  • Jan 23, 2017 2:53pm Jan 23, 2017 2:53pm
Dale,
We skipped the EU swing short part-1 because of ECB event.
Now part-2 level (1.0764) is triggered.
Is this still valid after 125 pip reaction from part-1 level (1.0713).
Thanks.
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Akif,
  • #4,057
  • Jan 23, 2017 3:11pm Jan 23, 2017 3:11pm
Quoting DrBeercan
{quote} With almost a 5 pip spread on Oanda I will let the bus go as we have a saying in the UK miss the first bus another 3 will be along shortly! Am sure Ziggy will agree!
I missed the little bugger as well, 3 pip spread on my platform, core spreads - it's 2 during normal business hours. time for some zzzzzzzzzzzz's
  • #4,058
  • Jan 23, 2017 11:06pm Jan 23, 2017 11:06pm
Quoting januszo
{quote} It was more than 1.5 pip. Maybe 1.5 plus spread. Next bus is on its way!
Hmm, you are correct regarding the spread. I have to calculate them already it into my starting levels. For me anything else would not make, I would miss 75% of Dale's levels .
  • #4,059
  • Jan 23, 2017 11:12pm Jan 23, 2017 11:12pm
Good morning all. UC @ 1.3229 hit in the night around 4am +10 pips. I saw it hovering over that level at obviously a major support level. So I couldn't resist and put a limit order in. Oh how we roll in the Forex market
Take 1 step forward, two small steps back
  • #4,060
  • Jan 23, 2017 11:12pm Jan 23, 2017 11:12pm
newbie question. for USDJPY (short 113.58) where do you put your PT and SL, since 10 pips for the price is insignificant.
also I plan on risking 1.5-2% of my micro bankroll. does this sound on the safe side for Dales levels?
Huge thanks for Dale, loving this thread
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