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Trader Dale - daily trading levels

  • #5,401
  • Feb 15, 2017 2:54am Feb 15, 2017 2:54am
Quoting CrocodileRex
Dale, What do you think about the level of UC at 1.3086? Thanks!
Hi there

could you maybe show us(screenshot.), how you have deduced this Level. ?

Thanks
  • #5,402
  • Feb 15, 2017 3:18am Feb 15, 2017 3:18am
Quoting radaway
{quote} Hi there could you maybe show us(screenshot.), how you have deduced this Level. ? Thanks
Akift's tool. Is no one using it?
Attached Image (click to enlarge)
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  • #5,403
  • Feb 15, 2017 3:34am Feb 15, 2017 3:34am
Quoting CrocodileRex
{quote} Akift's tool. Is no one using it? {image}
Yes,...just wanted to know : where exactly u r drawing the Rectangle.
Thank You !

Edit: btw , havent seen Akift for some time on the Forum...wonder where's he ...
  • #5,404
  • Feb 15, 2017 3:38am Feb 15, 2017 3:38am
Quoting majrou666
I looked bfiefly at xauusd and this kind of strategy could finish with profit I think. {image}
Looks good, I did some experiments based on this idea with not so good results. What are the criteria for drawing rectangles: a number of bars in a range, highest high and lowest low of a range, bar break outs from a range, etc? I don't see exactly a plan on your image of how to do it. Maybe a more experienced trader can help.
Looking for profitable short term trades ...|
  • #5,405
  • Feb 15, 2017 4:07am Feb 15, 2017 4:07am
Quoting radaway
{quote} Yes,...just wanted to know : where exactly u r drawing the Rectangle. Thank You ! Edit: btw , havent seen Akift for some time on the Forum...wonder where's he ...
And ziggy? When is he coming back?
  • #5,406
  • Feb 15, 2017 6:12am Feb 15, 2017 6:12am
Quoting Js3mwtRc
{quote} Looks good, I did some experiments based on this idea with not so good results. What are the criteria for drawing rectangles: a number of bars in a range, highest high and lowest low of a range, bar break outs from a range, etc? I don't see exactly a plan on your image of how to do it. Maybe a more experienced trader can help.
I draw the rectangle over the consolidation area. Last bar of rectangle is usually the previous bar of up/down move. I always start at M30 and finish with M1 TF. But I have no exact rules. It is subjective.
  • #5,407
  • Feb 15, 2017 7:50am Feb 15, 2017 7:50am
Dale - is AU level tested in your opinion?
Always look for reasons not to take a trade
  • #5,408
  • Feb 15, 2017 7:54am Feb 15, 2017 7:54am
Quoting brink
{quote} And ziggy? When is he coming back?
He's on holiday, lucky man :-)
Take 1 step forward, two small steps back
  • #5,409
  • Edited 8:20am Feb 15, 2017 8:01am | Edited 8:20am
Quoting Js3mwtRc
{quote} Looks good, I did some experiments based on this idea with not so good results. What are the criteria for drawing rectangles: a number of bars in a range, highest high and lowest low of a range, bar break outs from a range, etc? I don't see exactly a plan on your image of how to do it. Maybe a more experienced trader can help.
Ziggy also did a document and posted on this forum. Can't remember what post but sometime in Jan/ early Feb. I looked at the indi and from my view it is workable as the candles form instead of taking a long term view of the area as per Trading view indicator that does the same. It is as per comments very subjective but I think start at a higher Tf and work down each TF. I would also look at swings as if you are applying Fibo. In fact an article I read suggests overlaying fibo to confirm level, it seems to imply looking for the 50% level but that needs confirmation. It seems to find areas that are forming which is obvious if you take the box away and look at the PA.

What I haven't tried is marking a point and seeing what happens when price returns to it in the future especially as most markets I feel are currently ranging. From my limited knowledge trading during that heavy consolidation period the indi highlights is the same as flipping a coin for buy or sell. What I am missing is whether that area you find is a buy or sell. Do we take it if price approaches from above it is a buy as it is a PRZ and vice versa.
Take 1 step forward, two small steps back
  • #5,410
  • Feb 15, 2017 8:11am Feb 15, 2017 8:11am
Quoting DrBeercan
{quote} Ziggy also did a document and posted on this forum. Can't remember what post but sometime in Jan/ early Feb. I looked at it and from my view it is workable as the candles form instead of taking a long term view as per Trading view indicator that does the same. It seems to find areas that are forming which is obvious if take the box away and look at the PA. What I haven't tried is marking an area and seeing what happens when price returns to it the future especially as most markets I feel are currently ranging. From my limited knowledge trading...
I use the tool to draw a box in heavy consolidation areas where price sharply moves away. I draw a line where I would trade if price returns. I've been quite good at It so far!
So many in the Commercial section want to make me rich! :o
  • #5,411
  • Feb 15, 2017 8:36am Feb 15, 2017 8:36am
Probably better remove the pending trades now since Yellen going to speak again.
  • #5,412
  • Feb 15, 2017 8:37am Feb 15, 2017 8:37am
Quoting Beacon
Probably better remove the pending trades now since Yellen going to speak again.
Too late! Darn it.
Take 1 step forward, two small steps back
  • #5,413
  • Feb 15, 2017 8:38am Feb 15, 2017 8:38am
Hi guys,

Could anyone quickly tell me the difference between the blue/purple volume vpsv bars and the green and red bars? I have raised a support ticket with trading view, but yet to receive a response.

(Apologies if this is a stupid question!)

Cheers.
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  • #5,414
  • Feb 15, 2017 8:41am Feb 15, 2017 8:41am
Quoting FX-Flux
{quote} I use the tool to draw a box in heavy consolidation areas where price sharply moves away. I draw a line where I would trade if price returns. I've been quite good at It so far!
Great, probably what I am missing. Do you mind sharing in images as to how you do that?
Take 1 step forward, two small steps back
  • #5,415
  • Feb 15, 2017 8:56am Feb 15, 2017 8:56am
Quoting Derivative92
Hi guys, Could anyone quickly tell me the difference between the blue/purple volume vpsv bars and the green and red bars? I have raised a support ticket with trading view, but yet to receive a response. (Apologies if this is a stupid question!) Cheers. {image}
Blue /Purple is your Value Area
Plan, Prepare, Execute, Repeat
  • #5,416
  • Feb 15, 2017 8:57am Feb 15, 2017 8:57am
Quoting Derivative92
Hi guys, Could anyone quickly tell me the difference between the blue/purple volume vpsv bars and the green and red bars? I have raised a support ticket with trading view, but yet to receive a response. (Apologies if this is a stupid question!) Cheers. {image}
It should be value area and buy/sell orders (which you usually not able to tell one from each other). All in all this tells you nothing usefull.
  • #5,417
  • Feb 15, 2017 8:59am Feb 15, 2017 8:59am
if you guys are wondering if there will again be high volatility during yelen speech - it probably wont. She will deliver the same speech as yesterday. Only interesting thing could be Q/A panel afterwards.
  • #5,418
  • Feb 15, 2017 9:13am Feb 15, 2017 9:13am
Does anyone know of an EA that cancels pending orders if price reaches within (e.g) 3 pips of the trigger price and then turns away in the opposite direction by (e.g) 10 pips?

Basically to avoid tested levels....
Always look for reasons not to take a trade
  • #5,419
  • Feb 15, 2017 9:15am Feb 15, 2017 9:15am
Quoting Jako
Does anyone know of an EA that cancels pending orders if price reaches within (e.g) 3 pips of the trigger price and then turns away in the opposite direction by (e.g) 10 pips? Basically to avoid tested levels....
Why not use the EA sevan wrote. It does that and more. Remember if you use any EA your MT4 platform has to be up and running.
Never argue with a fool; onlookers may not be able to tell the difference.
  • #5,420
  • Feb 15, 2017 9:18am Feb 15, 2017 9:18am
Quoting DrBeercan
{quote} Great, probably what I am missing. Do you mind sharing in images as to how you do that?
Yeah I will do when I get home.
So many in the Commercial section want to make me rich! :o
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