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Trader Dale - daily trading levels

  • #6,161
  • Mar 9, 2017 3:45am Mar 9, 2017 3:45am
Quoting danigntr
{quote} was able to took 8 pips because I saw a lot of limit orders sitting there which endangered the profit target for me
very nice, I took +9,2
  • #6,162
  • Mar 9, 2017 3:45am Mar 9, 2017 3:45am
I took EU got a +6 and a -12. Looking back something fired up EUR with a strong move and I should have taken it all off at +6 but I had stopped watching for a moment and the reverse was too quick, Forex gives and it takes away!
Take 1 step forward, two small steps back
  • #6,163
  • Mar 9, 2017 3:49am Mar 9, 2017 3:49am
Quoting DrBeercan
I took EU got a +6 and a -12. Looking back something fired up EUR with a strong move and I should have taken it all off at +6 but I had stopped watching for a moment and the reverse was too quick, Forex gives and it takes away!
Seriously guys! You are getting very good! I consider not taking a full -12 SL there a great sucess!
  • #6,164
  • Mar 9, 2017 4:17am Mar 9, 2017 4:17am
EU was a BE for me
  • #6,165
  • Mar 9, 2017 4:22am Mar 9, 2017 4:22am
Quoting Trader-Dale
{quote} Seriously guys! You are getting very good! I consider not taking a full -12 SL there a great sucess!
I am still in as I have SL of -20. Will probably exit half at BE (if it hits ) and let the other half run
  • #6,166
  • Mar 9, 2017 4:32am Mar 9, 2017 4:32am
Quoting Trader-Dale
{quote} very nice, I took +9,2
-6 , but better than -12 !
  • #6,167
  • Mar 9, 2017 4:48am Mar 9, 2017 4:48am
Quoting Climber
EU was a BE for me
nice! good job!
  • #6,168
  • Mar 9, 2017 4:48am Mar 9, 2017 4:48am
both were already on a high level looking at the H1 TF. EUR obviously got another final push (from our MM friends) .
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 64 KB
  • #6,169
  • Mar 9, 2017 4:50am Mar 9, 2017 4:50am
Here is my eur/usd trade:

9.3.2017 EUR/USD short 1.0555
If you took this intraday level, set 10 pips PT and -12 pip SL it would ended in full stop loss. However I took almost full profit (+9.2 pips). Here are my thoughts that led me to trade the level as I did.

  1. there is a long rotation few pips before my short level. Market is accumulating volumes.
  2. there is high probability that this long cummulation of volumes will end up in a quick move (up or down)
  3. if it shoots up I will probably have an opportunity to enter for a better (higher price) thats exactly what happened I entered for a +2.3 pip better price
  4. my profit target of 10 pips was just a bit below very strong support level (support made by the previous cummulation of volumes)
  5. it was safer to exit my trade sooner (at this support) than to take a risk.
  6. I was carefull even more because today is ECB event day and eur/usd could be pretty unpredictable and wild.

Here is a screenshot of this trade taken from my trading platform:

Attached Image (click to enlarge)
Click to Enlarge Name: 9.3. eurusd profit tough trade.png Size: 64 KB
  • #6,170
  • Mar 9, 2017 4:52am Mar 9, 2017 4:52am
Quoting HemDir
both were already on a high level looking at the H1 TF. EUR obviously got another huge push (from our MM friends) . {image}
Cool! where did you get this currency strenght meter? Could you share it?
  • #6,171
  • Mar 9, 2017 5:35am Mar 9, 2017 5:35am
Quoting Trader-Dale
{quote} Seriously guys! You are getting very good! I consider not taking a full -12 SL there a great sucess!
Thank you Dale, your encouraging words are greatly appreciated. We couldn't have done it without your help,
Take 1 step forward, two small steps back
  • #6,172
  • Mar 9, 2017 5:56am Mar 9, 2017 5:56am
Quoting Trader-Dale
{quote} Cool! where did you get this currency strenght meter? Could you share it?
Hi Dale,
unfortunately not, the indicators are licensed. The fee is small, the indicators in terms of aggregated currency overview the best I have come across, however I could not find a confluence of your counter-trend style and the more "the trend is your friend"-style of the strength indicators (at least so far). I definitely do not want to promote them here (and hardly use them), but if anybody is interested, feel free to send a PM.
cheers
  • #6,173
  • Mar 9, 2017 6:08am Mar 9, 2017 6:08am
Took a trade on USD/JPY. Moved my stop to BE and I'm trying to let him move. Let's see what will happen.
http://prntscr.com/ehtm71
Are those links allowed or only screenshots uploaded on FF? If they are not allowed, I'm sorry..
  • #6,174
  • Mar 9, 2017 6:11am Mar 9, 2017 6:11am
Quoting danigntr
Took a trade on USD/JPY. Moved my stop to BE and I'm trying to let him move. Let's see what will happen. http://prntscr.com/ehtm71 Are those links allowed or only screenshots uploaded on FF? If they are not allowed, I'm sorry..
If in doubt, save it to your desktop, copy it and upload from there.
  • #6,175
  • Mar 9, 2017 6:18am Mar 9, 2017 6:18am
Would it be wise to take NZDUSD Long Swing Trades?

Is it a good or bad idea?
  • #6,176
  • Mar 9, 2017 6:20am Mar 9, 2017 6:20am
Quoting danigntr
Took a trade on USD/JPY. Moved my stop to BE and I'm trying to let him move. Let's see what will happen. http://prntscr.com/ehtm71 Are those links allowed or only screenshots uploaded on FF? If they are not allowed, I'm sorry..
nice. Good luck
  • #6,177
  • Mar 9, 2017 6:35am Mar 9, 2017 6:35am
I had read awhile ago that Japanese still had a lot of exposure to European equities, and needed to hedge for French elections, you think that will still have a part in capping yen pairs for another month? Thanks for the great thread, Dale.
  • #6,178
  • Mar 9, 2017 6:51am Mar 9, 2017 6:51am
Quoting Trader-Dale
{quote} Cool! where did you get this currency strenght meter? Could you share it?
There are many available for free. I'm sure I've got one I can share if you like.
So many in the Commercial section want to make me rich! :o
  • #6,179
  • Mar 9, 2017 7:03am Mar 9, 2017 7:03am
Quoting Trader-Dale
Here is my eur/usd trade: 9.3.2017 EUR/USD short 1.0555 If you took this intraday level, set 10 pips PT and -12 pip SL it would ended in full stop loss. However I took almost full profit (+9.2 pips). Here are my thoughts that led me to trade the level as I did. there is a long rotation few pips before my short level. Market is accumulating volumes. there is high probability that this long cummulation of volumes will end up in a quick move (up or down) if it shoots up I will probably have an opportunity to enter for a better (higher price) thats...
I assume you are using market orders than?
  • #6,180
  • Mar 9, 2017 7:08am Mar 9, 2017 7:08am
Quoting FX-Flux
{quote} There are many available for free. I'm sure I've got one I can share if you like.
Share away
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