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Trader Dale - daily trading levels

  • #6,201
  • Mar 10, 2017 4:34am Mar 10, 2017 4:34am
Quoting Jako
{quote} Sanaulhaq - are you sure you didnt mean 120.88 on EURJPY? {image}
121.88... actually, I tried Dale's level at some other pairs i.e. eurjpy, and eurgbp over past couple of months with good success rate. I don't recommend this practice to others (keep it simple), but find it really profitable for me.. I have also backtested the strategy on these pairs and it works fine. See the chart below:
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  • #6,202
  • Mar 10, 2017 4:44am Mar 10, 2017 4:44am
Quoting sanaulhaq
{quote} 121.88... actually, I tried Dale's level at some other pairs i.e. eurjpy, and eurgbp over past couple of months with good success rate. I don't recommend this practice to others (keep it simple), but find it really profitable for me.. I have also backtested the strategy on these pairs and it works fine. See the chart below:{image}2222702
Thanks Sanaulhaq - that's very helpful.

Can I ask what you think of 120.88 as well on EURJPY?
Always look for reasons not to take a trade
  • #6,203
  • Mar 10, 2017 5:04am Mar 10, 2017 5:04am
Quoting Jako
{quote} Thanks Sanaulhaq - that's very helpful. Can I ask what you think of 120.88 as well on EURJPY?
For me, it was tested yesterday.. though I found that level at 121.26 (instead of at the opening of the 30 mins bar that you identified) close to Fibo 50 and at short term resistance that could serve as support in that case.. Was obviously a good level... I am just sharing, because I had some success with that pair though I am far from being expert...
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  • #6,204
  • Mar 10, 2017 5:35am Mar 10, 2017 5:35am
Quoting danigntr
{quote} That is why I do not trade today Have a nice weekend
Great idea! I am going to take a break from trading today to. I will be in a business call when NFP kicks off so not able to trade that either... how inconvenient work is sometimes!

Thanks for this week Dale I had some great success with your levels and then gave the money I made back to Oanda by doing some crazy trading without thinking! But still on top from the start of the week! I feel each week is getting better and that's an achievement.

Have a great weekend all and look forward to trading this week.
Take 1 step forward, two small steps back
  • #6,205
  • Mar 10, 2017 5:36am Mar 10, 2017 5:36am
Quoting selfoe
Hi Dale, thanks for the levels. I went over your previous threads. They are helpful. So you only trade futures not Spot FX?
I trady only fx
  • #6,206
  • Mar 10, 2017 5:40am Mar 10, 2017 5:40am
I have a little update. I hope these levels won't be tested during NFP.
EUR/USD long: 1.0594
USDJPY long: 115.19
  • #6,207
  • Mar 10, 2017 6:19am Mar 10, 2017 6:19am
Quoting sanaulhaq
{quote} For me, it was tested yesterday.. though I found that level at 121.26 (instead of at the opening of the 30 mins bar that you identified) close to Fibo 50 and at short term resistance that could serve as support in that case.. Was obviously a good level... I am just sharing, because I had some success with that pair though I am far from being expert... {image}
Sorry, but can you explain what you are actually doing? I'm not sure I understand
So many in the Commercial section want to make me rich! :o
  • #6,208
  • Mar 10, 2017 7:32am Mar 10, 2017 7:32am
Quoting FX-Flux
{quote} Sorry, but can you explain what you are actually doing? I'm not sure I understand
I use the same strategy as Dale does with little variations. It is not to say that I am by any means better than he or I don't find his strategy useful. I hold the same respect for Dale as I do for my teacher. However, I've little modified it to suit my own personality and temperament. I see the price crossing previous short term resistance or support with some significantly high volume. Then, I draw a straight line at that resistance or support level and check the interest at that level in near past (however, I don't need to do the same if the level is close to a fibo level). I consider my level expired as the day ends regardless of its being tested or not by then. One more thing, I trade eurjpy frequently in addition to four recommended pairs. I just don't want to clutter this thread with my trade calls, charts, or anything that may appear irritating. These few posts were to share some ideas that had been profitable for me. Thanking you Fx-Flux for your interest and pardon me if I couldn't make the things clear to you. Cheers guys, have a good weekend! Many green pips to all!

Regards,
Sanaulhaq
  • #6,209
  • Mar 10, 2017 7:46am Mar 10, 2017 7:46am
AUDUSD tested I would say.
  • #6,210
  • Mar 10, 2017 7:48am Mar 10, 2017 7:48am
Quoting Trader-Dale
I have a little update. I hope these levels won't be tested during NFP. EUR/USD long: 1.0594 USDJPY long: 115.19
USDJPY invalid now and is EURUSD still valid for you because it turned 3 pips to soon caused by the high volatility.
Same rules or do you treat the zone in another way because of the news?
  • #6,211
  • Mar 10, 2017 10:39am Mar 10, 2017 10:39am
Anybody thinking of AU long at 0.7521?
  • #6,212
  • Mar 10, 2017 11:01am Mar 10, 2017 11:01am
Quoting majrou666
Anybody thinking of AU long at 0.7521?
unfortunately turned 2 pips earlier..
but nevermind I didn't trade today
  • #6,213
  • Mar 11, 2017 9:05am Mar 11, 2017 9:05am
Don't think I got in any trades this week Disappointed
So many in the Commercial section want to make me rich! :o
  • #6,214
  • Mar 12, 2017 6:07am Mar 12, 2017 6:07am
Quoting FX-Flux
Don't think I got in any trades this week Disappointed
I took 3 trades, +10pips,+1pips and -3pips
  • #6,215
  • Mar 12, 2017 7:30am Mar 12, 2017 7:30am
Pre-empting dales levels for tomorrow.
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So many in the Commercial section want to make me rich! :o
  • #6,216
  • Mar 12, 2017 4:46pm Mar 12, 2017 4:46pm
Intraday levels for 13.3.2017
I use PT 10 pips, SL 12 pips.
Happy trading

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  • #6,217
  • Mar 12, 2017 5:10pm Mar 12, 2017 5:10pm
Quoting Trader-Dale
Intraday levels for 13.3.2017 I use PT 10 pips, SL 12 pips. Happy trading {image}
Welcome back Mate ...Hope we all have a good start and a Good week.
  • #6,218
  • Mar 13, 2017 2:21am Mar 13, 2017 2:21am
have a nice week guys.

AUD/USD tested or still valid?
moved 3 pips earlier and moved away ~8 pips
  • #6,219
  • Mar 13, 2017 2:33am Mar 13, 2017 2:33am
I consider AU tested. 13 pip down movement is enough for me.
  • #6,220
  • Mar 13, 2017 3:13am Mar 13, 2017 3:13am
Quoting Trader-Dale
Intraday levels for 13.3.2017 I use PT 10 pips, SL 12 pips. Happy trading {image}
Morning Dale,

Any reason you would disagree with my UJ level? Additionally, what is your method for converting from a futures level to forex? My technique is to compare the charts and find the approximate level. Its hard sometimes because the candles are different shapes, and therefore its not as easy as just deducting the difference between the futures price and forex.
So many in the Commercial section want to make me rich! :o
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