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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

  • #16,241
  • Dec 5, 2008 11:38pm Dec 5, 2008 11:38pm
Quoting tokwanden
Hi guys/guls, here is the chart as promised. This is the 1st time I post the chart. Ghous are correct ! it's not that difficult. I have to try harder extraordinary (Bundys pills).

Most of the entry base atn S/R, PPZ atrea which raczekfx emphasize. Oh! man, my heart beat faster extraordinary. This is the 1st time I hold the position longer and over the weekend. So many setup pop-up and I just cant resist.
Good to see you explode up with your wonderful charts, lol! Hey BTW when did you take all these trades?? not to put you down but i see very little PA influence there, or maybe i'm missing something
I believe . . .
  • #16,242
  • Dec 5, 2008 11:48pm Dec 5, 2008 11:48pm
Another setup to have in the watchlist, another IB at a swing high with divergence, GOD I am gonna blow!! Did somebody say i had a below potential trade on the Usd/cad?
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 10 KB
I believe . . .
  • #16,243
  • Dec 6, 2008 12:14am Dec 6, 2008 12:14am
Quoting ghous
Good to see you explode up with your wonderful charts, lol! Hey BTW when did you take all these trades?? not to put you down but i see very little PA influence there, or maybe i'm missing something

Not much on PA, but all base on price retrace after approaching PPZ. I read raczekfx post regarding yesterday NFP and he mentioned pairs that he was monitoring playing around the strong/respected PPZ area. I see how this strong PPZ is respected before and I agree with him price is due to retrace if it fail to give strong impact toward current direction after the NFP announcement. As I mentioned this is copy from raczekfx entry stail. (playing around PPZ)
Go figure.. Simplicity work
  • #16,244
  • Dec 6, 2008 12:15am Dec 6, 2008 12:15am
Quoting tokwanden
Hi guys/guls, here is the chart as promised. This is the 1st time I post the chart. Ghous are correct ! it's not that difficult. I have to try harder extraordinary (Bundys pills).

Most of the entry base atn S/R, PPZ atrea which raczekfx emphasize. Oh! man, my heart beat faster extraordinary. This is the 1st time I hold the position longer and over the weekend. So many setup pop-up and I just cant resist.
Good entries man. Great entries.
Bundy's status today: "Waiting..."
  • #16,245
  • Dec 6, 2008 12:16am Dec 6, 2008 12:16am
Hi raczekfx,

I just have a question about your short at U/C.
Why you did short here? That was not a pin bar, is it?
Please I am learning so your explanation will help me a lot.

Thanks.

Quoting raczekfx
Hi Angel,
I keep stops just below the setup that triggered my trade. If it's a pb on 1hr, stop would be few pips below/above that pb. If there is ppz, 61fib or some kind of confluence, I could place it below/above it. Same rules apply to trading on daily, weekly, monthly charts. If I enter on 1hr most of the time I'm out on the same time frame.
e.g. I shorted u/c on 1hr and my initial stop was above monthly ppz. I have now moved my stop as indicated below. Please note that I haven't played or assumed daily PB yet. When I decide to play that daily...
  • #16,246
  • Dec 6, 2008 12:18am Dec 6, 2008 12:18am
Quoting tokwanden
Not much on PA, but all base on price retrace after approaching PPZ. I read raczekfx post regarding yesterday NFP and he mentioned pairs that he was monitoring playing around the strong/respected PPZ area. I see how this strong PPZ is respected before and I agree with him price is due to retrace if it fail to give strong impact toward current direction after the NFP announcement. As I mentioned this is copy from raczekfx entry stail. (playing around PPZ)
Ok nicely done.
I believe . . .
  • #16,247
  • Dec 6, 2008 3:00am Dec 6, 2008 3:00am
Quoting raczekfx
...was a trigger for the following trades below.
Have a great weekend everyone. Trade well...
raczekfx
you're really great...you take every good signal
I didn't take yesterday signals because it was friday afternoon
  • #16,248
  • Dec 6, 2008 6:06am Dec 6, 2008 6:06am
Quoting mbqb11
Hey FXP

Your chart is correctly marked up. I will sell the low of the pin and let each days PA play out. If the resistance is as strong as it looks it could become a very nice trade. For those that are more quick to move their stops to b/e they should watch those areas. I will trail at the end of each day depending on how PA shapes up.

Take care
Mike
Cheers Mike get well soon.
  • #16,249
  • Dec 6, 2008 7:14am Dec 6, 2008 7:14am
Quoting 786 trading
Hi raczekfx,

I just have a question about your short at U/C.
Why you did short here? That was not a pin bar, is it?
Please I am learning so your explanation will help me a lot.

Thanks.
On Thursday night, after analyzing charts I saw 80% probability of daily pin forming on Friday on Cad. This thread is about PA and not about precognition,so I stop here...
You can read post by Life of pip (#16216) and Northpro. They were watching the same charts I was....
for Life of Pi p
  • #16,250
  • Dec 6, 2008 7:20am Dec 6, 2008 7:20am
Quoting canados
raczekfx
you're really great...you take every good signal
I didn't take yesterday signals because it was friday afternoon
thanks, but I don't take every signal. I do my due diligence, check PF for Mike's take on the market (), watch for PA on smaller tf (once I made decision) and then trade..... unless I'm intoxicated (then, I take every signal - joking of course)
  • #16,251
  • Dec 6, 2008 7:39am Dec 6, 2008 7:39am
Quoting tokwanden
Not much on PA, but all base on price retrace after approaching PPZ. I read raczekfx post regarding yesterday NFP and he mentioned pairs that he was monitoring playing around the strong/respected PPZ area. I see how this strong PPZ is respected before and I agree with him price is due to retrace if it fail to give strong impact toward current direction after the NFP announcement. As I mentioned this is copy from raczekfx entry stail. (playing around PPZ)
Nice trades tokwanden.
It sounds, I run signal provider here... I better stop..
Just a few words of caution.
I don't emphasize on trades around s/r ppzs. I trade strictly PA and those trades are just 'reconnaissance scouts', if you will, with absolutely strict rules and MM. Trading ppz CAN BE and WILL BE lethal to your account unless you use strict money management and proper stops. That's no secret, I've been there many times before but don't have plans to revisit those times.... . Friday’s trades were combination of a big puzzle put together, which included thoughts on US economy, bad NF news already priced in, oil and Cad hitting strong resistance, past experience and many other items from micro economy. Just so you are aware these were not blinds trades. Please exercise great caution if you trade aggressively without waiting for confirmed PA first.


Quoting jarroo
Nice trading plan raczek (as always). Clean and simply.

(God, I love this thread.)
We learnt from the best.....
You're not the only one. You'd be surprised to know, who reads this thread.... and never posts.
Got a watch what we write here...
  • #16,252
  • Dec 6, 2008 8:09am Dec 6, 2008 8:09am
Hi Raczekfx,

Thanks a lot for your reply !!

You have been sharing your knowledge a lot with the community and it's very kind of you...............

My best to you

Have a great week end all

Cheers

Angel65
  • #16,253
  • Dec 6, 2008 9:22am Dec 6, 2008 9:22am
Hello Tokwanden,

Congratulation, you did a very good job but let me ask you a question regarding your entry level :

Do you wait that prices get through and retrace to your PPZ for entering your order ?

Thanks

Cheers

Angel65
  • #16,254
  • Dec 6, 2008 10:05am Dec 6, 2008 10:05am
Quoting raczekfx
Nice trades tokwanden.
It sounds, I run signal provider here... I better stop.....
raczekfx sorry and txs. Sorry for using word emphasize. I just cant find the right word to explain it in proper way but I really/always do understand that u and others in here using strictly PA. Confluence of PPZ Fibo, round numbers and all just to make the signal more reliable/strong. (hopefully I don't make it worst this time.English is always difficult for me).

I don't take it as a signal but as a guideline to be a better trader and I learn a lot from it.. I'm still learning step by step, bit by bit. Pls dont let this stop u from posting.

Thx to u, James the starter of this thread, mbqb, Jarro, Bundy, SL, Habeeb, Peter Fm (just name a few) and all the posters in this great thread u all are good/nice/wonderfull bunch of peoples.. I read all the post and nothing left, now I revise it again and currently at the page of 180. Txs one more time.
Go figure.. Simplicity work
  • #16,255
  • Edited 10:36am Dec 6, 2008 10:16am | Edited 10:36am
Quoting Angel65
Hello Tokwanden,

Congratulation, you did a very good job but let me ask you a question regarding your entry level :

Do you wait that prices get through and retrace to your PPZ for entering your order ?

Thanks

Cheers

Angel65
Yes u are right. I wait the price passed and enter on the retracement. I let the price come to me. Just don't feel comfortable to chase it
Go figure.. Simplicity work
  • #16,256
  • Dec 6, 2008 10:37am Dec 6, 2008 10:37am
Tokwanden,

Thanks for your quick reply.

Now I well understand that a prices retracement to a PPZ AFTER passing accross is a strong sign that this zone will be respected.

Do you use PA on lower time frame to validate/negate the retracement ?

Cheers

Angel65
  • #16,257
  • Edited 11:34am Dec 6, 2008 11:04am | Edited 11:34am
Quoting Angel65
Tokwanden,

Thanks for your quick reply.

Now I well understand that a prices retracement to a PPZ AFTER passing accross is a strong sign that this zone will be respected.

Do you use PA on lower time frame to validate/negate the retracement ?

Cheers

Angel65
Yes I do and always, but in this case I trade the other way round. I pay more attention on the PPZ itself. Coz I see to get confirmation from higher TF a bit late for trading PPZ.
Look at gj as example. Price break IB on TF1 hr.( I just ignore its higher wick).
For GU, BUOB formed also on tf1hr. EJ price broke upper side of IB4, again on tf1. UCAD price broke down side of IB on TF 1hr. UJ price broke IB on TF1hr too and EU base on BUOB also on 1hr tf. PA rules . Lower TF PA less reliable but combine with the repected PPZ it can be lethal. Try it and u will be surprise.
Attached Images
Go figure.. Simplicity work
  • #16,258
  • Dec 6, 2008 11:20am Dec 6, 2008 11:20am
Man, I go away for a couple of days and you guys blow up the thread! Looks like some good moves happened while away. Thanks for your comments Jeff and Matias. USD/CAD looks nice, GBP/CAD looks good for ~1R also, but then again it is a TC.
  • #16,259
  • Dec 6, 2008 11:32am Dec 6, 2008 11:32am
Hi again,

I better understand now but :

1) Please, what do you mean exactly by 'Yes I do and always, but in this case I trade the other way round I pay more attention on the PPZ coz I see to get confirmation from higher TF will be too late' ?

2) Regarding the PPZ, MONTHLY and WEEKLY PPZ are much more reliable than daily and intraday PPZ ? Am I right ?

3) Regarding reliable PA, less than 1 hour tf is not recommended ?

Thanks

Cheers

Angel65
  • #16,260
  • Dec 6, 2008 11:32am Dec 6, 2008 11:32am
Quoting tokwanden
raczekfx sorry and txs. Sorry for using word emphasize. I just cant find the right word to explain it in proper way but I really/always do understand that u and others in here using strictly PA. Confluence of PPZ Fibo, round numbers and all just to make the signal more reliable/strong. (hopefully I don't make it worst this time.English is always difficult for me).

I don't take it as a signal but as a guideline to be a better trader and I learn a lot from it..
I was teasing you...
... and don't worry about your English. It's better than mine.
English isn't my first either. It's third or perhaps fourth, I've learnt..
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