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Trader Dale - daily trading levels

  • #6,821
  • Apr 10, 2017 11:39am Apr 10, 2017 11:39am
Quoting S1-1
{quote} my secondary UC level turned out well, based on my own analysys where the yellow circles are,so all in all UC break even {image}
very nice mate!
  • #6,822
  • Apr 10, 2017 12:01pm Apr 10, 2017 12:01pm
Quoting caillo
OK.. the money I lost in #usdcad this morning is BACK! and still running! {image}
Excellent :-) great to see that you got your cash back, I was tempted to dive in as well but was caught up elsewhere as price retraced and headed south again. I was reviewing now am home and can see quite a few factors had turned that trade. Quite like your idea around Fib levels.
Here's the view on Metatrader 5 which I think is quite interesting, ah well mark that down to experience, continue to wish I had a job that allowed me to trade and onto the next one!
Attached Image (click to enlarge)
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Take 1 step forward, two small steps back
  • #6,823
  • Apr 10, 2017 12:07pm Apr 10, 2017 12:07pm
Hi, is the JPY trade still valid or we consider it tested?
  • #6,824
  • Apr 10, 2017 12:50pm Apr 10, 2017 12:50pm
Quoting azm1
Hi, is the JPY trade still valid or we consider it tested?
Debatable, as the price came within 5 pips of the level but did not close near it (yes it's a new idea). Though not to say it won't go back there any time soon, it seems to be a popular area as you can see from the screen shot. The price seems to have reacted to another level at 110.788.

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Take 1 step forward, two small steps back
  • #6,825
  • Apr 10, 2017 2:08pm Apr 10, 2017 2:08pm
Thanks for input. I will keep the pending order overnight and go sleep. See you tomorrow all!
  • #6,826
  • Apr 10, 2017 3:04pm Apr 10, 2017 3:04pm
Some levels posted on Dales website. Thank you Dale :-)
Take 1 step forward, two small steps back
  • #6,827
  • Apr 10, 2017 4:03pm Apr 10, 2017 4:03pm
Here are new levels guys. Happy trading!
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  • #6,828
  • Apr 10, 2017 4:19pm Apr 10, 2017 4:19pm
Quoting Trader-Dale
Here are new levels guys. Happy trading! {image}
Hi Dale,

Is USDJPY short level still valid? It looks it was tested 4pips sooner.
  • #6,829
  • Apr 10, 2017 6:41pm Apr 10, 2017 6:41pm
Quoting Trader-Dale
Here are new levels guys. Happy trading! {image}
Hi dale, im sorry this will be the most daft question, but im total beginner and have been trading few days and have been on your website and downloaded templates, but i was wondering when you give figure on your daily levels like.............long 1=1.0578 shortt 1 = 1.0616 how do i go about putting this trade on...

or when there is 2 short predictions

any help will be greatly appreciated
  • #6,830
  • Apr 10, 2017 6:56pm Apr 10, 2017 6:56pm
Quoting nuggaman
{quote} Hi dale, im sorry this will be the most daft question, but im total beginner and have been trading few days and have been on your website and downloaded templates, but i was wondering when you give figure on your daily levels like.............long 1=1.0578 shortt 1 = 1.0616 how do i go about putting this trade on... or when there is 2 short predictions any help will be greatly appreciated

like i mean what should i put first, is it for the short or for the long if that makes sense
  • #6,831
  • Apr 10, 2017 8:50pm Apr 10, 2017 8:50pm
Quoting m.miso
{quote} Hi Dale, Is USDJPY short level still valid? It looks it was tested 4pips sooner.
Hi,
I can of course not answer for Dale,
but I personally would not trade that level after the rejection 4 pips before
and the strong 45 pip move after the rejection.
If you want to learn more about when a level is still valid or not to trade it
Dale has a lot of good articles on his website (http://trader-dale.com/forex-articles/).

Ed
Failure to plan, is a plan to failure...
  • #6,832
  • Edited 1:40pm Apr 11, 2017 2:07am | Edited 1:40pm
Quoting Trader-Dale
{quote} I place limit for all levels. Even usd/cad can have (and did have) very nice trades during asian session. In the morning I delete all limits and trade everything myself with market orders. Do I understand it correctly that you can't correct the lines from the current version and for that reason you require an older build? Iam not sure I still have it. please let me know if I got it right.
Thanks for the answer, Dale.

Concerning the TDLines indicator:
It's not a point that you can't correct the lines.
The point is that if I draw a horizontal line on the chart it is removed by the TDLines indicator after switching from eg. 30min to 1H timeframe.
I think that is because somewhere in the code is putted to remove all the horizontal objects after starting the indicator...

Well actually then my personal trendlines are also removed.... if I switch from timeframe

Hope I'm more clear now..?!
You can manage risk, but you can't manage the return
  • #6,833
  • Apr 11, 2017 2:16am Apr 11, 2017 2:16am
also the level 1.05780 is now already tested (2 pips from the entry level) 2 to 3 times.....I think....

I don't trade this level... and maybe i'm wrong....
You can manage risk, but you can't manage the return
  • #6,834
  • Apr 11, 2017 2:20am Apr 11, 2017 2:20am
Quoting S1-1
{quote} Hi, I can of course not answer for Dale, but I personally would not trade that level after the rejection 4 pips before and the strong 45 pip move after the rejection. If you want to learn more about when a level is still valid or not to trade it Dale has a lot of good articles on his website (http://trader-dale.com/forex-articles/). Ed
Hi Ed,

I know the rules, but I was wondering if it was valid, because Dale posted it when it was already tested. I considered it tested.
  • #6,835
  • Apr 11, 2017 2:26am Apr 11, 2017 2:26am
Quoting HappyMe
also the level 1.05780 is now already tested (2 pips from the entry level) 2 to 3 times.....I think.... I don't trade this level... and maybe i'm wrong....
i wouldn't trade this level also
  • #6,836
  • Apr 11, 2017 2:30am Apr 11, 2017 2:30am
Canceled the order too
  • #6,837
  • Apr 11, 2017 2:51am Apr 11, 2017 2:51am
Hi Guys .
I wanted to add the Market Profile tool , but there is a file missing in the zipped file !
  • #6,838
  • Apr 11, 2017 2:59am Apr 11, 2017 2:59am
Quoting HappyMe
also the level 1.05780 is now already tested (2 pips from the entry level) 2 to 3 times.....I think.... I don't trade this level... and maybe i'm wrong....
I did however take this one for a +15 pips since I did not see a strong
reaction after it was initially tested, price kept on hovering around the same place.

Ed
Failure to plan, is a plan to failure...
  • #6,839
  • Apr 11, 2017 3:29am Apr 11, 2017 3:29am
Quoting nuggaman
{quote} Hi dale, im sorry this will be the most daft question, but im total beginner and have been trading few days and have been on your website and downloaded templates, but i was wondering when you give figure on your daily levels like.............long 1=1.0578 shortt 1 = 1.0616 how do i go about putting this trade on... or when there is 2 short predictions any help will be greatly appreciated
Depends entirely on how you trade. Some people (like me) do limit orders and manage them as not able to watch all the time. Others set alarms 5 pips earlier and react when the alarm sounds. Others use the EA and populate all the trades so they don't have to think about red news events. How do you manage your trades normally?
Take 1 step forward, two small steps back
  • #6,840
  • Apr 11, 2017 3:32am Apr 11, 2017 3:32am
Quoting S1-1
{quote} I did however take this one for a +15 pips since I did not see a strong reaction after it was initially tested, price kept on hovering around the same place. Ed
I think it's subjective at the time over market forces. As sometimes price coming close is a wick of the candle rather than a close. Am personally going to trial for a time using a close of a candle. At times levels that seemed to be blown went onto win.
Take 1 step forward, two small steps back
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