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Trader Dale - daily trading levels

  • #7,181
  • Apr 28, 2017 5:59am Apr 28, 2017 5:59am
Quoting azm
{quote} This one would run away if it would be 111.53. It turned around 111.524 at Oanda and 111.522(3) at FXCM. So sweet spot for today would be 111.52. Maybe good argument without looking at Market profile would be that this one is D Profile resistance - see pic. {image}
Sorry just refresh my memory. Does one always go for 10 pips? Because this one's not going to yield 10 pips I think. Pretty strong uptrend. I suppose 5 pips is good sometimes? What about buy levels?
  • #7,182
  • Apr 28, 2017 6:10am Apr 28, 2017 6:10am
+10 !! UJ

Thanks a lot Dale
  • #7,183
  • Apr 28, 2017 6:11am Apr 28, 2017 6:11am
Quoting Manquito
+10 !! UJ Thanks a lot Dale
Same here, first trade using dale level . Read through dale's materials and gained so much insight , really thankful for seeing the light .
  • #7,184
  • Apr 28, 2017 6:12am Apr 28, 2017 6:12am
USDJPY +10, finally my positive trade after couple consecutive losses
Attached Image (click to enlarge)
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  • #7,185
  • Apr 28, 2017 6:13am Apr 28, 2017 6:13am
Quoting Neo1
{quote} this is spot chart not a future chart
Yep, I said without looking at the market profile but meant volume profile, sorry. If you review the Dales Market profile attachment in this thread you can see many of the levels can be evaluated without the futures data. Based on his guide is my analysis.
  • #7,186
  • Apr 28, 2017 6:14am Apr 28, 2017 6:14am
BE on 6E
  • #7,187
  • Apr 28, 2017 6:33am Apr 28, 2017 6:33am
Quoting tbarper
{quote} Ok Ziggy. If was because of using Order Flow I understand. I suppose Dale is using all this information together. For now the level is working.
that is correct, he uses mkt profile, price action & order flow as a package to find his levels - most can be found from just the mkt profile and the reaction of the resultant price move, but sometimes the order flow info plays a bigger part.
Anyone targeting +10 should have it by now, given the news at 13:30 UK time I'd be sure not to let this trade become a loss now no matter what the target, what I'm seeing is the forecast is regarded as optimistic and the Yen is likely to move quite quickly after 13:30.
  • #7,188
  • Apr 28, 2017 6:56am Apr 28, 2017 6:56am
Well I'm suitably impressed and chastened - tremendous and spot on too. Does give one confidence to trust in Trader Dale
  • #7,189
  • Apr 28, 2017 6:59am Apr 28, 2017 6:59am
Quoting ziggy
{quote} that is correct, he uses mkt profile, price action & order flow as a package to find his levels - most can be found from just the mkt profile and the reaction of the resultant price move, but sometimes the order flow info plays a bigger part. Anyone targeting +10 should have it by now, given the news at 13:30 UK time I'd be sure not to let this trade become a loss now no matter what the target, what I'm seeing is the forecast is regarded as optimistic and the Yen is likely to move quite quickly after 13:30.
Hi Ziggy, would there be any way I can learn how dale analyse using order flow? so far i am a rough idea how he does price action and mkt profile.
  • #7,190
  • Apr 28, 2017 7:15am Apr 28, 2017 7:15am
Quoting stevox
{quote} Hi Ziggy, would there be any way I can learn how dale analyse using order flow? so far i am a rough idea how he does price action and mkt profile.
I really wouldn't recommend using orderflow too much. The thing is when you use it you tend to get yourself lost in details. Market profile+price action is much better because you see the bigger picture which is way more important.
If you want to get better focus on market profile with price action.
  • #7,191
  • Apr 28, 2017 7:22am Apr 28, 2017 7:22am
usdjpy - nice trade
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  • #7,192
  • Apr 28, 2017 7:40am Apr 28, 2017 7:40am
EURCAD looks like a good long opportunity @ 1.4870
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  • #7,193
  • Apr 28, 2017 7:56am Apr 28, 2017 7:56am
i am watching that EC level as well, but there is a strong recection happening
right now, is it tested? i m not sure
  • #7,194
  • Apr 28, 2017 8:32am Apr 28, 2017 8:32am
Quoting Trader-Dale
usdjpy - nice trade {image}
why you didnt consider a short level on EURUSD today??
  • #7,195
  • Apr 28, 2017 9:09am Apr 28, 2017 9:09am
Quoting Neo1
{quote} why you didnt consider a short level on EURUSD today??
I can't say for Dale, but these would be my reasons.
1. The high of 25th April was tested to the pip on 26th making the perfect double top.
2. Above that double top there is a massive void, check out your daily chart and look at 9th Nov, you'll see what I mean
3. During yesterdays ECB conference that double top zone was tested and then a comment from Draghi was seized upon and price was smashed down.

The first visit to a trading zone has the highest probability of success, each visit nibbles away at the order book making a breach that much more likely on the next visit. As it happens there was the opportunity of a perfect trade, but that is easy to say after the event, before the event I only want to look for what I consider to be the highest probability set ups. There are always opportunities so I only want to use what I think are the highest probability set-ups

edit - having said all that, there are supposed to be some big players wanting to defend that space in front of 1.1000
  • #7,196
  • Apr 28, 2017 9:40am Apr 28, 2017 9:40am
this strategy is extremely powerful
  • #7,197
  • Apr 28, 2017 10:06am Apr 28, 2017 10:06am
Quoting zonalmarking
this strategy is extremely powerful
I know this is after timing, but to re-enforce your point these are my 2 aussie trades today - it's unusual for me to have levels that Dale isn't showing but I was happy to take these 2 on today. That 2nd one happened very suddenly at the 16:00 month end fix......... no idea if that is what caused it but I'll take it. Have a great w/end folks. Cheers Ziggy
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  • #7,198
  • Apr 28, 2017 10:11am Apr 28, 2017 10:11am
Quoting ziggy
{quote} I know this is after timing, but to re-enforce your point these are my 2 aussie trades today - it's unusual for me to have levels that Dale isn't showing but I was happy to take these 2 on today. That 2nd one happened very suddenly at the 16:00 month end fix......... no idea if that is what caused it but I'll take it. Have a great w/end folks. Cheers Ziggy{image}
Got the 2nd on as well... The 1st one was missed by a few pips. Enjoy your weekend lads
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  • #7,199
  • Apr 28, 2017 10:18am Apr 28, 2017 10:18am
Lol Ziggy I took that trade as well. I have been risking half for all my levels to build confidence and full risk for Dale's levels, So far so good
Attached Image
  • #7,200
  • Apr 28, 2017 10:58am Apr 28, 2017 10:58am
Quoting ziggy
{quote} I know this is after timing, but to re-enforce your point these are my 2 aussie trades today - it's unusual for me to have levels that Dale isn't showing but I was happy to take these 2 on today. That 2nd one happened very suddenly at the 16:00 month end fix......... no idea if that is what caused it but I'll take it. Have a great w/end folks. Cheers Ziggy{image}
Hi, I still don't understand why you trust in that level when data for this market orders are only from your broker. I don't say it doesn't work but in forex there isn't central order book unlike of stock or futures. Moreover, every broker has its own data so lot of traders has different levels. Is't true?
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