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Trader Dale - daily trading levels

  • #5,061
  • Feb 7, 2017 8:06am Feb 7, 2017 8:06am
Quoting radaway
{quote} v.new to the ball game. aaargghh,,..where is oil on the charts ?(under Indices ?)
No, guess it depends on your broker but on mine its under Oil spot, however not all brokers have oil/metals/indices etc
  • #5,062
  • Feb 7, 2017 8:09am Feb 7, 2017 8:09am
Quoting Prax
{quote} No, guess it depends on your broker but on mine its under Oil spot, however not all brokers have oil/metals/indices etc
OK Thanks...as if looking @ macros wasn't good enough..now keep a tab on oil too ..grrr
  • #5,063
  • Edited 11:04am Feb 7, 2017 10:46am | Edited 11:04am
Caught another rocket ship for a swing.....dont know how long it will go but SL is @ + 50 pips now

EDIT: Out @ Target
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpcadlong.jpg Size: 178 KB
Click to Enlarge Name: gbpcadexit.jpg Size: 140 KB
Plan, Prepare, Execute, Repeat
  • #5,064
  • Feb 7, 2017 11:15am Feb 7, 2017 11:15am
Has anyone thought about(tried) using these levels AFTER they have been met but in the opposite direction? Support becomes resistance and vice versa. From the short time I've been following(lurking), I've noticed that these levels provides pips going the other way. Anyone else?
  • #5,065
  • Feb 7, 2017 11:31am Feb 7, 2017 11:31am
Quoting sailingon
Has anyone thought about(tried) using these levels AFTER they have been met but in the opposite direction? Support becomes resistance and vice versa. From the short time I've been following(lurking), I've noticed that these levels provides pips going the other way. Anyone else?
Sailing,
Short answer is Yes. Volume Profile levels can be traded in many different ways. Trader Dale has perfected what he is doing with the reaction trades. In addition, I like to trade the move away from value. Everything that is being done here is a play on one of the methods of Value area / volume profile trading.
I uploaded a .pdf file about the value area that gives many of the thoughts on how to trade these areas and should stimulate a lot of thought about how to develop your own trading style around Value Area / Volume Profile areas.
Plan, Prepare, Execute, Repeat
  • #5,066
  • Feb 7, 2017 11:37am Feb 7, 2017 11:37am
Quoting swingtrade65
Just a couple for today AUDJPY : SELL 86.21 GBPCAD: SELL 1.6461 ( 15TP / 15 SL) GBPNZD: 1.7072 (15 /15) GOLD: BUY: 1224.30 (1222.90 sl // 1228.2 tp)
Are you going for the GBP/CAD short now?
  • #5,067
  • Feb 7, 2017 11:41am Feb 7, 2017 11:41am
Quoting Prax
{quote} Are you going for the GBP/CAD short now?
Prax....No, we missed the entry by 1.7 pips and then it has already pulled back about 14 so I consider it tested......I was hoping I could get it coming and going...just not to be today
Plan, Prepare, Execute, Repeat
  • #5,068
  • Feb 7, 2017 11:43am Feb 7, 2017 11:43am
approaching eurusd still valid for entry
  • #5,069
  • Feb 7, 2017 11:48am Feb 7, 2017 11:48am
Quoting adrian w.
approaching eurusd still valid for entry
Yes...at least for me it is
Plan, Prepare, Execute, Repeat
  • #5,070
  • Feb 7, 2017 11:50am Feb 7, 2017 11:50am
Quoting swingtrade65
{quote} Yes...at least for me it is
for me too :-) if it gets there I will take it
  • #5,071
  • Feb 7, 2017 12:05pm Feb 7, 2017 12:05pm
Quoting adrian w.
{quote} for me too :-) if it gets there I will take it
letīs see if the market gets there..
  • #5,072
  • Feb 7, 2017 12:24pm Feb 7, 2017 12:24pm
We had the EU reaction a little bit sooner I think.
  • #5,073
  • Feb 7, 2017 12:24pm Feb 7, 2017 12:24pm
for me eu level is now tested
  • #5,074
  • Feb 7, 2017 12:35pm Feb 7, 2017 12:35pm
I took UJ long at 111.81 and got TP 11 pips. I used akiftīs tool. There was consolidation and then steep move up. I worked this time. Thank you Dale and Akift
  • #5,075
  • Feb 7, 2017 1:47pm Feb 7, 2017 1:47pm
is it okay to let go of the EU (3.9 pips & then 15 reaction) ?
anyone holding to it or abandon ship here ?
  • #5,076
  • Feb 7, 2017 2:01pm Feb 7, 2017 2:01pm
Quoting radaway
is it okay to let go of the EU (3.9 pips & then 15 reaction) ? anyone holding to it or abandon ship here ?
I cancelled my limit order on this one
  • #5,077
  • Feb 7, 2017 2:09pm Feb 7, 2017 2:09pm
Quoting radaway
is it okay to let go of the EU (3.9 pips & then 15 reaction) ? anyone holding to it or abandon ship here ?
I canceled my limit order, but will monitor the situation and possibly take a manual entry if it gets close again and the price action agrees with me. The only reason I'm making this exception is because of the latest "Frexit" news circulating around, which very likely will NOT come to fruition, but we're all here to speculate, right?
I'd have small lot and very close SL if I do decide to take it.
  • #5,078
  • Feb 7, 2017 2:53pm Feb 7, 2017 2:53pm
02-07-2017
eurusd +105
audusd +62
-------------
Market profile, order-flow
  • #5,079
  • Feb 7, 2017 3:25pm Feb 7, 2017 3:25pm
Quoting swingtrade65
{quote} Hey Beer....from a Macro standpoint you are right. However, for short term trades, I dont generally consider a macro POV. If were trading these for 3+ days...then you are absolutely correct.
Good point, thank you for clarification. I will take a look at your trades. Are you creating the position in the same way as Dale?
Take 1 step forward, two small steps back
  • #5,080
  • Edited 4:26pm Feb 7, 2017 3:32pm | Edited 4:26pm
Quoting radaway
{quote} v.new to the ball game. aaargghh,,..where is oil on the charts ?(under Indices ?)
Indeed it does depend on your broker. I have IG for stocks that has oil prices (though I have paused trading IG for a bit) and Oanda for micro lots. Something else I use purely because I am new to it all is forex strength meters. Might help you understand in the same way I am learning. It's a journey with many twists :-)
Take 1 step forward, two small steps back
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