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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #16,201
  • Dec 5, 2008 1:47pm Dec 5, 2008 1:47pm
Ok... which one of you just executed your sell order on Usd/Cad....

I would like to thank you for the PB that seems to be shaping up!
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  • #16,202
  • Dec 5, 2008 1:47pm Dec 5, 2008 1:47pm
Quoting raczekfx
I'd love to see 200ps pb off 2900 here...
triple top, all kind of divergence, confluence.
G... I wish I was more excited. Trading is boring..
got a love it when your plan works out....
It's been very good day today. Hope every one did very well.

R.
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  • #16,203
  • Dec 5, 2008 1:53pm Dec 5, 2008 1:53pm
I let you a bit of my trading plan for today...
Not too much since it's a public forum after all....

This chart/setup below..
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  • #16,204
  • Dec 5, 2008 1:59pm Dec 5, 2008 1:59pm
Quoting raczekfx
..

This chart/setup below..
...was a trigger for the following trades below.
Have a great weekend everyone. Trade well...
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  • #16,205
  • Dec 5, 2008 2:19pm Dec 5, 2008 2:19pm
Quoting raczekfx
...was a trigger for the following trades below.
Have a great weekend everyone. Trade well...

Rac, thanks for posting your charts. I've learned a lot from studying them over the past few weeks. I hope that one day I can have an eye for as many markets and timeframes as you do!
  • #16,206
  • Dec 5, 2008 2:21pm Dec 5, 2008 2:21pm
Quoting mbqb11
yep the conservative way is to wait for the high/low
Thanks Mike.
  • #16,207
  • Dec 5, 2008 2:21pm Dec 5, 2008 2:21pm
Quoting raczekfx
got a love it when your plan works out....
It's been very good day today. Hope every one did very well.

R.
The cad & gbp were just too perfect for me today.
Ive allready added to them
I smell the december rally. divergence, over sold conditions, a rally on friday after the worst jobs numbers in 34 years...........
maybe people are getting tired of selling.
have a good weekend all awsome week.
  • #16,208
  • Dec 5, 2008 2:30pm Dec 5, 2008 2:30pm
Quoting Life of Pi_p
Rac, thanks for posting your charts. I've learned a lot from studying them over the past few weeks. I hope that one day I can have an eye for as many markets and timeframes as you do!
I'm glad I could help. I only watch about 30 markets, including 18 currencies. This gives me opportunity to pick the best setups, instead of trading just for 'fun'. Many times futures, indexes and 'some' pairs can tip you off before other crosses take off or tank.
  • #16,209
  • Dec 5, 2008 2:32pm Dec 5, 2008 2:32pm
Quoting rustyjeff
The cad & gbp were just too perfect for me today.
Ive allready added to them
I smell the december rally. divergence, over sold conditions, a rally on friday after the worst jobs numbers in 34 years...........
maybe people are getting tired of selling.
have a good weekend all awsome week.
Lol... Jeff you must be one of those traders...
http://www.forexfactory.com/showpost...ostcount=16154
  • #16,210
  • Dec 5, 2008 2:33pm Dec 5, 2008 2:33pm
Perfect location for this daily pinbar on gbp/aud. Fib confluence, daily resistance, and with the trend.

Also, I think the pin on usd/cad is not very playable because of the strong support at 1.2655 but we'll see where it closes...
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  • #16,211
  • Dec 5, 2008 2:36pm Dec 5, 2008 2:36pm
closing the gap?
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  • #16,212
  • Dec 5, 2008 2:47pm Dec 5, 2008 2:47pm
Quoting 786 trading
Thanks Mike.
786
please change your sig "I am looser but not a quitter ... still hopeful"

to " i am a learner....but not a quitter "
its all in the "MIND "

baz
  • #16,213
  • Dec 5, 2008 2:48pm Dec 5, 2008 2:48pm
Hello Raczekfx,

Thanks a lot, I've learned a lot from studying your charts too.

I didn't see any Stop Loss levels, just your entry levels : does it mean that you use big stop loss levels ?

Thanks for your attention

Cheers

Angel65
  • #16,214
  • Dec 5, 2008 3:04pm Dec 5, 2008 3:04pm
Quoting raczekfx
Lol... Jeff you must be one of those traders...
http://www.forexfactory.com/showpost...ostcount=16154


maybe...
  • #16,215
  • Dec 5, 2008 3:07pm Dec 5, 2008 3:07pm
Quoting raczekfx
got a love it when your plan works out....
It's been very good day today. Hope every one did very well.

R.
Rac, Around the same time that USD/CAD was meeting resistance, I notice that Oil was meeting a monthly support level from 12/04 and 1/05 at 40.90 and 41.25. So add that to the confluences and divergences that set up at around 1.3000. And now that the day has closed, you have yourself a sweet Pin Bar on USD/CAD (IBFX feed).
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  • #16,216
  • Dec 5, 2008 3:08pm Dec 5, 2008 3:08pm
Quoting rustyjeff
The cad & gbp were just too perfect for me today.
Ive allready added to them
I smell the december rally. divergence, over sold conditions, a rally on friday after the worst jobs numbers in 34 years...........
maybe people are getting tired of selling.
have a good weekend all awsome week.

Crapolla.... i thought the boat was just arriving at the docks but it seems it already sailed away... what are they teaching at the PF these days?
  • #16,217
  • Dec 5, 2008 3:16pm Dec 5, 2008 3:16pm
Quoting saskgui
Crapolla.... i thought the boat was just arriving at the docks but it seems it already sailed away... what are they teaching at the PF these days?
I'm sure Rac would say something similar,
There are no secrets.......
Its just time ,practise & choosing the most probbable. When you do this & have a good plan its hard to lose money.
The pf is a place that gives support & learning in every aspect of trading.
Its well worth the money.
Just to disclose.. I am a lifetime member.
  • #16,218
  • Dec 5, 2008 3:24pm Dec 5, 2008 3:24pm
Quoting saskgui
Crapolla.... i thought the boat was just arriving at the docks but it seems it already sailed away... what are they teaching at the PF these days?
you haven't missed anything.. This will be a retace of the stong US dollar trend at best. The better play will be the pa at the resumption of the trend.
to me todays trades were counter trend & therefore i watch them closely with tight stops & take profit early.
I am looking for trend continuation to really get into some good money. It may be next week or maybe next month, I dont know.. I dont have Rac's crystall ball... I only have charts.
One day i'm going to Rac's place to steal his magic 8 ball.
  • #16,219
  • Dec 5, 2008 3:26pm Dec 5, 2008 3:26pm
Quoting rustyjeff
I'm sure Rac would say something similar,
There are no secrets.......
Its just time ,practise & choosing the most probbable. When you do this & have a good plan its hard to lose money.
The pf is a place that gives support & learning in every aspect of trading.
Its well worth the money.
Just to disclose.. I am a lifetime member.
Well... it is more than just waiting for PB's and Bullish/Bearish on the higher TF's i think.. or i am blind which is also possible. Here i was looking forward to the USD/CAD daily pin and others are already booking profit. Maybe things have changed since i was last there a year ago....
  • #16,220
  • Dec 5, 2008 3:39pm Dec 5, 2008 3:39pm
nice chart life,

Notice what started this entire move down in oil. a bearish outside bar at an extreme high.

huge fortunes have been made in this down move. I mean HUGE.

I know a guy that has a 3 year old daughter and he purchased leap put options off of this bar in HER retirement account. leaps are just options with a lot of time left before expiration

That little girl now has more sitting in that account than most 65 year olds do when they retire.

never ever forget that knowledge is power. it can be used for good or bad but its power none-the-less.
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