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Trader Dale - daily trading levels

  • #7,521
  • May 9, 2017 6:54am May 9, 2017 6:54am
Quoting HappyMe
{quote} Ah oke this one then... for myfxbook an yellow one. Last days we also had somewhere a difference I remember. That raises a question: What is the correct impact? Yellow or Red.... What is the best/correct list...or is there not something like that? {image}
Actually I thought there was an univocal way to consider the importance of this news, but clearly it's not...and this is not good!
  • #7,522
  • May 9, 2017 6:55am May 9, 2017 6:55am
(No offence)

I remember this thread from few months ago (I lurked from time to time into it)

Why is it now in the commercial section?

Thanks
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #7,523
  • May 9, 2017 6:57am May 9, 2017 6:57am
Quoting FX-Flux
AU long 9.734 futures show larger volume than spot {image}
nice one!
do you get the futures volume profile (even if delayed, but I think it's not a big deal for us) with the pro subscription on tradingview?
  • #7,524
  • May 9, 2017 7:06am May 9, 2017 7:06am
Quoting michisuperfr
(No offence) I remember this thread from few months ago (I lurked from time to time into it) Why is it now in the commercial section? Thanks
Well what do you think...?! Mr Dale went Commercial..... So we need to paddle ourselves in this boat

You can manage risk, but you can't manage the return
  • #7,525
  • May 9, 2017 7:09am May 9, 2017 7:09am
Quoting Iena
{quote} nice one! do you get the futures volume profile (even if delayed, but I think it's not a big deal for us) with the pro subscription on tradingview?
Yeah just the 9.99 per month is enough.
So many in the Commercial section want to make me rich! :o
  • #7,526
  • May 9, 2017 7:57am May 9, 2017 7:57am
Quoting FX-Flux
{quote} Yeah just the 9.99 per month is enough.
it's a bargain for what you get indeed
thanks!
  • #7,527
  • May 9, 2017 9:47am May 9, 2017 9:47am
Guys, I´m following this thread and I´m tryng to read as much as I can about MP but from what I see, Dale´s approach is some kind of Supply / Demand system together with MP. I mean he doesn´t use Value Area, etc.

If the idea is only to find fresh levels, What is the purpose of using the profile. Can´t we do the same just with PA finding supply/demand zones?

Please forgive me if I´m telling something stupid :-)
  • #7,528
  • May 9, 2017 10:15am May 9, 2017 10:15am
Quoting tbarper
Guys, Im following this thread and Im tryng to read as much as I can about MP but from what I see, Dales approach is some kind of Supply / Demand system together with MP. I mean he doesnt use Value Area, etc. If the idea is only to find fresh levels, What is the purpose of using the profile. Cant we do the same just with PA finding supply/demand zones? Please forgive me if Im telling something stupid :-)
First of all stupid questions are non excising

Dale is looking to high volume area's in combination with Price Action. and for spots were Volume is accumulating. For the volume thing he is at least using the Profile (I think it's the Volume based one) Besides that he is also looking to the Future volume and tries to correct this to Forex. That's what I understand.

Well I'm using only the MarketProfile the TPO based one (in combination with only Forex volume....I know that's not the whole volume picture we see here. But it gives us a good picture. That in combination with reference points (given by the MarketProfile) and eventually PriceAction. Gives me the same result.... => spots were we most probably can expect reaction....

So in my view the Purpose of using the MarketProfile is seeing the reference points.

Well that's my view ofcourse.....please don't hesitate to correct me!!
You can manage risk, but you can't manage the return
  • #7,529
  • May 9, 2017 10:26am May 9, 2017 10:26am
Quoting FX-Flux
{quote} Yeah just the 9.99 per month is enough.


.. 100 p.A. is also my imagination..
Risiko birgt immer auch die Chance.
  • #7,530
  • May 9, 2017 10:39am May 9, 2017 10:39am
Quoting Sesamstrasse
{quote} .. 100 p.A. is also my imagination..
I like the option of leaving if things aren't working out for me so just sticking to the monthly is fine for now. If this works out in the long run I will fork out for the annual one
So many in the Commercial section want to make me rich! :o
  • #7,531
  • May 9, 2017 10:55am May 9, 2017 10:55am
Quoting HappyMe
{quote} First of all stupid questions are non excising Dale is looking to high volume area's in combination with Price Action. and for spots were Volume is accumulating. For the volume thing he is at least using the Profile (I think it's the Volume based one) Besides that he is also looking to the Future volume and tries to correct this to Forex. That's what I understand. Well I'm using only the MarketProfile the TPO based one (in combination with only Forex volume....I know that's not the whole volume picture we see here. But it gives...
I understand. How many days do you use to analyse back?
  • #7,532
  • May 9, 2017 12:41pm May 9, 2017 12:41pm
I was looking at this level from this morning on EURUSD, short @1.0929 but I'm not sure about a couple of things

1. do you consider this level or volume/price action are too weak?
2. do you consider already tested this morning (black arrow) when it got 3.1 pips and then retraced again? Or this "test" happen too close to the formation of the level?

thanks a lot as usual
Attached Image (click to enlarge)
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  • #7,533
  • May 9, 2017 12:44pm May 9, 2017 12:44pm
Quoting Iena
I was looking at this level from this morning on EURUSD, short @1.0929 but I'm not sure about a couple of things 1. do you consider this level or volume/price action are too weak? 2. do you consider already tested this morning (black arrow) when it got 3.1 pips and then retraced again? Or this "test" happen too close to the formation of the level? thanks a lot as usual {image}
Depends on your risk profile. Some people suggested within 5 pips was tested. It also needs to reflect your spread to. In general if it came that close and rapidly moved away then yes in my book it is tested.
Take 1 step forward, two small steps back
  • #7,534
  • May 9, 2017 12:54pm May 9, 2017 12:54pm
Quoting DrBeercan
{quote} Depends on your risk profile. Some people suggested within 5 pips was tested. It also needs to reflect your spread to. In general if it came that close and rapidly moved away then yes in my book it is tested.
I use Sevan's EA and it's set on 2 pips, but I always keep an eye, and when it made such big movement I'm inclined not to risk and to take it anymore, even it got "just" 3.1 pips...
so I'm with you on this one...better to stay away...
  • #7,535
  • May 9, 2017 12:58pm May 9, 2017 12:58pm
Quoting tbarper
Guys, Im following this thread and Im tryng to read as much as I can about MP but from what I see, Dales approach is some kind of Supply / Demand system together with MP. I mean he doesnt use Value Area, etc. If the idea is only to find fresh levels, What is the purpose of using the profile. Cant we do the same just with PA finding supply/demand zones? Please forgive me if Im telling something stupid :-)
Dales levels are a correlation of Futures to VPOC. As HappyMe suggests here the best we can do is Market Profile. The levels can stretch back as long as they are not tested so if you hit a new area and even as far back as a couple of months the level (supplied by Dale) is not tested there is still a reaction and others who have collected the levels have traded with profit.
I personally trade by cross referencing Supply and demand with Fib to find areas between Fib levels starting at W/D/H4 for price direction / PA and then pick an entry point using market profile or a target of a specific VPOC. If you have the disposable income and can do monthly you will probably find within a month you will get back what you pay to Dale if you follow his trading plans and can watch the market when the level hits. I used to trade using orders but found that I missed a news event or the market had reacted wilder than thought and would enter at the wrong time. Using my method my EURUSD I posted yesterday would of worked if I had left it alone I got a 15 pip win! I also pulled quite a few winners last week doing the same thing trading the AU whilst it retraced between FIB levels and used MP as target / points of entry.

Hope that helps, give it a go and see what you think :-)
Take 1 step forward, two small steps back
  • #7,536
  • May 9, 2017 1:02pm May 9, 2017 1:02pm
Quoting Iena
{quote} I use Sevan's EA and it's set on 2 pips, but I always keep an eye, and when it made such big movement I'm inclined not to risk and to take it anymore, even it got "just" 3.1 pips... so I'm with you on this one...better to stay away...
Great stuff am also looking at EU it has tested a zone 6 times since the big up move and as we saw last night the EU actually did a move down. I think if it hits the Fib 61.8 on my chart we are in free fall or a choppy market whilst it fills the gap which. My personal view of course.
Attached Image (click to enlarge)
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Take 1 step forward, two small steps back
  • #7,537
  • May 9, 2017 1:33pm May 9, 2017 1:33pm
Quoting DrBeercan
{quote} Great stuff am also looking at EU it has tested a zone 6 times since the big up move and as we saw last night the EU actually did a move down. I think if it hits the Fib 61.8 on my chart we are in free fall or a choppy market whilst it fills the gap which. My personal view of course. {image}
I am waiting as well for a big fall down to fill the gap...not sure when to enter though, but your chart gives some hint on where to look at
  • #7,538
  • May 9, 2017 2:23pm May 9, 2017 2:23pm
EURNZD short

Looking for 1.5600 and below tomorrow
  • #7,539
  • May 9, 2017 2:35pm May 9, 2017 2:35pm
Quoting Iena
{quote} I am waiting as well for a big fall down to fill the gap...not sure when to enter though, but your chart gives some hint on where to look at
:-) hopefully I don't steer you wrong. Let's see tomorrow, don't forget EUR and USD red news at 1PM and 3:30PM GMT.

Have a good evening all good luck to our friends trading the Asian market in a few hours time.
Take 1 step forward, two small steps back
  • #7,540
  • May 9, 2017 3:14pm May 9, 2017 3:14pm
Today's trade results:
Attached Image
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