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Queen of the Pips
Nicola,
It is not appropriate for me to post my charts here as my Daily trading is not done using the Dan/Zak strategy. However, their strategy works on the Daily just as good as the other time frames.
On the GBPUSD trade I just closed, using Dan/Zak's strategy, you would have sold at about 1.4723 as the price bounced off the trend line, the 50 sma and shot down through the 20 ema. I'm not sure where their strategy would have you closing as, on my chart, there are no W or M levels to target. I closed out on the pin bar because it is both an exhaustion and reversal bar and also it's time for the rubber band to pull prices back to either the down trend line or the Weekly 20 ema.
It looks like today is forming an inside bar (another reversal bar after the end of a downtrend) which will allow me to buy at a slightly better price with a tighter stop although I will still use the low of the pin bar.
As you can tell, I don't use Heiken Ashi as I need to see price action at these higher time frames. As you move to higher time frames, the technicals are far more reliable.
Having done this explanation for you, I have just realised that I CAN use the Dan/Zak strategy to complement my existing strategy. Brilliant - might have to load up when they confirm!
Anyway, Nicola, you don't need to learn other strategies - you are very successful doing what you are doing - don't change it - just keep doing it!
If you still want to know more, PM me as it's time to get the old girl out and give her a bit of a thrashing (My Strat, she's 50 next month!)
Rock on,
Strat
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