OK, Gumrai has just provided an interesting live trade case on GOLD (XAUUSD). I will not show his trade, but I will show my approach to this case. The trade took place 12 March 2013. Now, for GOLD (XAUUSD) I like to relate to the weekly W1 Zone ...

Price Action in Day Trading by Dadas

Well, OK, someone will say, if it is so simple, where is the problem? First of all: I want to see the D1 Candlestick in as much detail as possible. What do I need to see all the 1440 one-minute-candlesticks at once? A very widescreen monitor! ...

Price Action in Day Trading by Dadas

Some people say that they use Price Action in their trading strategy, yet they are still searching for new information on Price Action. They claim to understand Price Action, yet they are still looking for answers, looking for something, the Holy ...

Price Action in Day Trading by Dadas

We are always trading one Timeframe or another. The Candle Shadow Zone is a part of my method, as anyone who has read and understood, can see. Of course, the Shadow or Wick of the Time Period Candle is relevent to this Time Period. However, the ...

Price Action in Day Trading by Dadas

Please, please, please, and one more time: Please! Please, remain open-minded and try to understand the whole of what I am writing. Please, try not to be biased and see only those parts which bring out your own doubts! I am NOT telling You or anyone ...

Price Action in Day Trading by Dadas

If I did not understand one indicator, I would search for one I would understand. I found a couple I had understood very well. That did not help anything, because I still did not know when to enter, when to exit. Because I did not understand the ...

Price Action in Day Trading by Dadas

Look at this: I drew these PTECZ yesterday or the day before. image Either trust what you see, or do not. The choice is Yours. image image image

Price Action in Day Trading by Dadas

Maybe, start over, step-by-step? You know, it took me quite a while to see this. Take a chart, any chart in the weekend. Rewind back into history. Look for PTECZ and highlight them. Look for those more important ones, the PTECZ after long trend ...

Price Action in Day Trading by Dadas

Well, what if one was color blind? Then, I do know there is no protocol for Candle colors. They can be any color the trader chooses. That is why I stick to my default template with my colors. My Candles are OrangeRed for Bearish, Aquamarine for ...

Price Action in Day Trading by Dadas

Yes, you are absolutely right. I never said that people trading indicators are wrong. I only said, that when you really understand Price Action and the Consolidation, you do not need indicators. Look, follow the logic: You trust what the Indicator ...

Price Action in Day Trading by Dadas

I was hoping I had explained my idea of Price Consolidation or Congestion quite clearly in the article: Understanding the chart url Data is sent from the broker's server in data packets called ticks. And translated to the chart picture in ...

Price Action in Day Trading by Dadas

I like to be informed of the times potentially important news is scheduled. So, I found a nice stand-alone programme, here on forexfactory called FX News Alert. A handy application which can also run in the background and alarm us before the news.

Price Action in Day Trading by Dadas

Of course, we are trading historical quotations, not the real bank quotations. I once had the same idea, I had so many indicators on my chart, that the chart was practically impossible to read, thus useless. OK, enough, we will only be repeating ...

Price Action in Day Trading by Dadas

Ever heard of courts, law suits, interpretation of law? There are no models in real life. Laws are only general structures, general definitions. The Court interprets each case individually. If life was like you would like it to be, by definition, ...

Price Action in Day Trading by Dadas

image The second is true, it was part of an Engulfing Candle from the M30 chart. image It was simply fast thinking, a sort of abrreviation of the thought. Maybe not very precise, but it was part of the M30 Engulfing Candle. image And I do ...

Price Action in Day Trading by Dadas

Thank you for sharing. Please, I will not hack other peoples programmes. I need the open source mq4, not the ex4 file. Only then I can either judge it myself, or ask my programmer friend to give me his opinion. If this indicator draws what you show, ...

Price Action in Day Trading by Dadas

Well, stick to the book definition, and you will not get far! The book definition is a perfect model. Perfect models seldom exist on the chart. Free your mind beyond definition, see things as they are. For me, any Candle that covers the previous one ...

Price Action in Day Trading by Dadas

I have 2 of my own indicator-tools which can aid at searching PTECZ. However, I need to see only those according to my rules. Manual is much easier. It is just a Rectangle. The Zone Candle is drawn automatically, the indicator is attached in two of ...

Price Action in Day Trading by Dadas

A fine job, I say. My PTECZ see it like this. image Now, my D1 Zone Candle with some PTECZ see it like this: image

Price Action in Day Trading by Dadas

I must straighten you out on the indicator issue. You are absolutely wrong! I have worked with almost every indicator there is. I have written my own EAs based on indicators, tested them, analized every single trade, Profit and Loss, I really do ...

Price Action in Day Trading by Dadas