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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

  • #16,701
  • Dec 11, 2008 5:25am Dec 11, 2008 5:25am
Quoting Naijafx
this is awesome, cant wait to join the james16 group!
Now now that's some nice marketing Bundy
I believe . . .
  • #16,702
  • Dec 11, 2008 5:41am Dec 11, 2008 5:41am
a great post from earlier this year...


http://www.forexfactory.com/showpost...postcount=8826
  • #16,703
  • Dec 11, 2008 6:00am Dec 11, 2008 6:00am
Hey Rac,

so following on from using equities as a barometer...

have you noticed the ascending wedge on the dow? So i think that means we might end up with a breakout lower. So if it is in line with the previous move down, could we see the dow at 6600?

cheers

Simon
  • #16,704
  • Dec 11, 2008 6:05am Dec 11, 2008 6:05am
Hey Rac,

so following on from using equities as a barometer...

have you noticed the ascending wedge on the dow? So i think that means we might end up with a breakout lower. So if it is in line with the previous move down, could we see the dow at 6600?

cheers

Simon
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  • #16,705
  • Dec 11, 2008 7:12am Dec 11, 2008 7:12am
Quoting jarroo
Its not just the Daily where you find these its also on the Weekly. Here's a beauty on the Euro weekly. Pin Bar. 50% retrace at a PPZ and then busting through another PPZ.
THX, for Your reply, Jarroo, but I have problem not how to trade, I have problem to understand this sentence:

2. day trading OFF OF A DAILY CHART (if necessary based on a possible retrace of an initial move) and if not working the move for a swing or position trade if we bust some early s/r.

I have problem with the not word in the "if not working the move " expression.
I would have written:
day trading OFF OF A DAILY CHART and working(trading) the move for a swing or position trade if we bust some early s/r.
Am I understand completly wrong something here?
Or what am I miss (beside the English lesson)?
THX, NL
  • #16,706
  • Dec 11, 2008 8:01am Dec 11, 2008 8:01am
Quoting canados
how did you jump on this beautiful trade? what was the setup?

thanks
This 4hr IB setup on Dec5, which was also coincided my own 1hr Rdb.

I was also planing to buy break of that 4hr pin, which I thought was imminent, but since some people were short, I didn't want to mess up with their trades. Others (TV) don't want to know what will happen next unless there is 100% guarantee.... this is why I never explained my train of thoughts re: fiber

btw: this is PA thread not crystal balling thread...
I have also took small losses on yen crosses. Something's up...don't know if it's shakeout or something bigger...
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  • #16,707
  • Dec 11, 2008 8:05am Dec 11, 2008 8:05am
Quoting raczekfx
This 4hr IB setup on Dec5, which was also coincided my own 1hr Rdb.

I was also planing to buy break of that 4hr pin, which I thought was imminent, but since some people were short, I didn't want to mess up with their trades. Others (TV) don't want to know what will happen next unless there is 100% guarantee.... this is why I never explained my train of thoughts re: fiber

btw: this is PA thread not crystal balling thread...
I have also took small losses on yen crosses. Something's up...don't know if it's shakeout or something bigger......
It's clear now...I always enjoy your posts
I'm impressed for your trade management, you are still long despite those pullbacks. This is what I would like to be good at, I need to improve this aspect
  • #16,708
  • Dec 11, 2008 8:26am Dec 11, 2008 8:26am
Quoting canados
It's clear now...I always enjoy your posts
I'm impressed for your trade management, you are still long despite those pullbacks. This is what I would like to be good at, I need to improve this aspect
I'm glad you find them useful sometimes...
I keep trade management simple and it's really easy. Try trading two lots. Once you make 'some' pips, close one and trail second(I do it manually) behind support/resistance area. You'd be surprised after few months...
  • #16,709
  • Dec 11, 2008 8:29am Dec 11, 2008 8:29am
I'm watching Eur/Chf. Interest (monthly) area 1.58
  • #16,710
  • Dec 11, 2008 8:32am Dec 11, 2008 8:32am
Quoting regsklongshort
Good Question, I was also wondering what R-db meant?
I would guess it means "Reversal - Double Bottom"

Could someone with more experience please tell me if this is correct.
It's stands for 'Raczek's Dream-Boat'...
  • #16,711
  • Dec 11, 2008 8:53am Dec 11, 2008 8:53am
Quoting simoncs
Hey Rac,

so following on from using equities as a barometer...

have you noticed the ascending wedge on the dow? So i think that means we might end up with a breakout lower. So if it is in line with the previous move down, could we see the dow at 6600?

cheers

Simon
Everything is possible here.. If auto bailout fails, this might happen. I have a mixed feeling on bailout since I got this in my mailbox from a friend (kind of disturbing). Whatever happens, I'm sure, it will be trade-able..
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File Type: pdf bailout.pdf   68 KB | 2,059 downloads
  • #16,712
  • Dec 11, 2008 9:06am Dec 11, 2008 9:06am
still waiting for the pullback to get in...
  • #16,713
  • Dec 11, 2008 9:24am Dec 11, 2008 9:24am
Quoting raczekfx
Everything is possible here.. If auto bailout fails, this might happen. I have a mixed feeling on bailout since I got this in my mailbox from a friend (kind of disturbing). Whatever happens, I'm sure, it will be trade-able..

I believe the numbers on the auto workers and wages is good. This is why we need national health care also. The Government put in place the regulations requiring employers to provide insurance, now there going to finish the socializing.

Is anyone in the eur/chf?
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  • #16,714
  • Dec 11, 2008 9:27am Dec 11, 2008 9:27am
Quoting raczekfx
It's stands for 'Raczek's Dream-Boat'...


There's plenty for sale down here right now if your interested.
40-50' for under 300k.
My friend works for a guy who's trying to offload a 76' for 850k...
cheap..
  • #16,715
  • Dec 11, 2008 9:42am Dec 11, 2008 9:42am
here comes the next one.
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  • #16,716
  • Dec 11, 2008 9:46am Dec 11, 2008 9:46am
PB Forming on USD/CAD hourly. Looks pretty good to me. Wayyy oversold. It needs a retrace.
  • #16,717
  • Dec 11, 2008 9:52am Dec 11, 2008 9:52am
guys, 2 hours PB forming on Eur/Usd at strong resistence
  • #16,718
  • Dec 11, 2008 10:00am Dec 11, 2008 10:00am
Quoting KirbyFX
PB Forming on USD/CAD hourly. Looks pretty good to me. Wayyy oversold. It needs a retrace.

lol you jinxed it and refused to form a PB
  • #16,719
  • Dec 11, 2008 11:44am Dec 11, 2008 11:44am
Quoting Mr Trend
Here's a little short I'm going to take here soon... EURCAD, 4H at resistance... my target is the bottom red line. Not only do I have that, but I also have a good probability that the EUR will drop as well, which means this should work out... we'll see.
I had been watching that as well, it boucned right off that 1.62ish area
Patience + Humility + Study = Success
  • #16,720
  • Dec 11, 2008 12:01pm Dec 11, 2008 12:01pm
Hi- great thread guys- interesting stuff.

Firstly let me say I agree with the no indicator mantra as far as RSI etc goes, S/R is all you need- but anything that aids finding the S/R is very much a blessing in my eyes.

Anybody familiar with such an indicator or feel they would be able to make one?

As I see it, it would involve calculating fibo retracements from various high/lows -maybe based on fractals. Then plotting the price levels where they overlap within X amount of pips.

any help would be much appreciated.


JTD
pessimism of the intellect and optimism of the will
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