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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

  • #17,521
  • Dec 25, 2008 8:58am Dec 25, 2008 8:58am
Quoting raczekfx
It has nothing to do with feelings. I keep feelings reserved for the woman I love....

I don't pay much attention to 50 retrace (i think someone mentioned before, it's jacko stuff, but I'm no fan of that method). If we break 38 we're going down (at least that's my experience)

If you contemplate on blue rectangles, you shall find the answer to your TP1 question.
Cheers,

R
Thanks, Rac! I really need to learn to zoom out and look farther left on my charts.

I greatly appreciate the help since I know that you and all of the other people that keep this thread going do not have to take your time to help those of us still learning. I know that I'll get better with this the more I do it, just need more practice and pointers from those who can point me in the right direction.

This year I would also like to learn to take the longer time frame trades and hold them for longer, so it looks like I need to work on my patience and trusting myself.

Thanks again!

-Brian
  • #17,522
  • Dec 25, 2008 9:55am Dec 25, 2008 9:55am
Quoting ghous
Hey Rac,


I have a question abt your Eur/chf trade though. ..What convinced you that the daily is gonna close the way it did?

...
What i know off is that this is what is often termed "one of the biggest mistakes of a trader" that he wants to anticipate something to happen in future for which he acts in the present I am obviously not saying that you are making a mistake (how dare i! ), i am just curious how you get out of this?
I haven't changed my long term trading method in almost two years. It's all in this thread.
This is not jankone's 5min style, so it's probably boring for many of you, but it works for me..

http://www.forexfactory.com/showpost...postcount=8096
http://www.forexfactory.com/showpost...ostcount=15877
http://www.forexfactory.com/showpost...ostcount=15889
http://www.forexfactory.com/showpost...ostcount=15799
the one above triggered 2000 pips move north
http://www.forexfactory.com/showpost...ostcount=15789
http://www.forexfactory.com/showpost...ostcount=15662
http://www.forexfactory.com/showpost...ostcount=15636
  • #17,523
  • Dec 25, 2008 10:14am Dec 25, 2008 10:14am
Quoting raczekfx
I haven't changed my long term trading method in almost two years. It's all in this thread.
This is not jankone's 5min style, so it's probably boring for many of you, but it works for me..
I liked these two. There are many more.

http://www.forexfactory.com/showpost...postcount=5295

http://www.forexfactory.com/showpost...postcount=5329
Indicators show the past. Price Action "Indicates" the future.
  • #17,524
  • Dec 25, 2008 10:22am Dec 25, 2008 10:22am
Nice charts dude. Funny how this all looks like you are reading tea leaves to many - until they start a practice of it. Then it is like an open book.

I am always looking ahead to the next spot where the trade will materialize. It is not clarvoyance.

One of the finest moments in my life was the moment it clicked. Then it all got pretty boring and I needed to get a hobby.

Quoting raczekfx
I haven't changed my long term trading method in almost two years. It's all in this thread.
This is not jankone's 5min style, so it's probably boring for many of you, but it works for me..

http://www.forexfactory.com/showpost...postcount=8096
http://www.forexfactory.com/showpost...ostcount=15877
http://www.forexfactory.com/showpost...ostcount=15889
http://www.forexfactory.com/showpost...ostcount=15799
the one above triggered 2000 pips move...
I'm pretty much done with all this ...
  • #17,525
  • Dec 25, 2008 2:42pm Dec 25, 2008 2:42pm
I think you have great style man.
I don't have my own style, I just copy Ryan, because he is success. It's his style and i use his setups. He give me great idea.
Only some things i can change with his setups..as i said, some trade can be for 1 trader loss, and for somebody B/E or win.
That makes a different.
I like to learn by great traders.
It's all price action, only timeframe is other.
And you know, 2000 pips can be same $ like 100 pips is with other position size.
I think your style isn't boring, it's price action and it's great.
I respect you for "patience" with longer timeframes, but it's about personality...
anyway good luck man:-)

[quote=raczekfx;2437962]I haven't changed my long term trading method in almost two years. It's all in this thread.
This is not jankone's 5min style, so it's probably boring for many of you, but it works for me..
  • #17,526
  • Dec 25, 2008 4:58pm Dec 25, 2008 4:58pm
I cant emphasize how much one can get help from this thread reading posts from all the old timers like raczek , james , mbq , seekinglight (not posting anymore here ). Happy new year to all of you here..... My stomach is going to explode in a minute....
  • #17,527
  • Dec 25, 2008 6:00pm Dec 25, 2008 6:00pm
Quoting raczekfx
http://www.forexfactory.com/showpost...ostcount=15662
Hello,

In this pic you have a note 50/61 Fib + RDB. I was wondering what RDB means?


Thank You.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,528
  • Dec 25, 2008 6:12pm Dec 25, 2008 6:12pm
Merry Xmas guys! I know it's kinda late LOL

Boring winter break for me. I just read this thread from the beginning. Half to go. Keep on posting guys! Thanks a lot!
  • #17,529
  • Dec 25, 2008 6:57pm Dec 25, 2008 6:57pm
Merry Christmas to all.

Want to give thanks to all the folks on this tread for their help and support.


Thank You
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,530
  • Dec 25, 2008 9:39pm Dec 25, 2008 9:39pm
Happy Xmas to All of You!

Here is the catch, anyone believe Fiber gonna reach 4500??? Its bounce from last swing at 38 fibo...

Anyone gonna update some chart?
  • #17,531
  • Dec 26, 2008 12:23am Dec 26, 2008 12:23am
Quoting raczekfx
I haven't changed my long term trading method in almost two years. It's all in this thread.
This is not jankone's 5min style, so it's probably boring for many of you, but it works for me.....
Thanks for the posts Raczek! I don't find your method boring you're right that for many this is kinda boring but for me it fits my style, I love the way you mention everything without presenting it all on a silver platter!

Thankyou very much for being a great mentor! This very attribute is what makes James16 a great teacher too, i don't see you very differnet than him

Ok I had one more question, I am new to NOn-fx marlets like the US stock indices (The S&P, DOW etc) how do you correlate them, in one of your posts above i saw you mentioening that the S&P will affect the $ and the Yen? The $ is understandable (stronger stock markets stronger currency) but why the yen, and is the corelation inverse or direct?

Regards,
Ghous.
I believe . . .
  • #17,532
  • Dec 26, 2008 12:42am Dec 26, 2008 12:42am
Quoting johnbaem
Happy Xmas to All of You!

Here is the catch, anyone believe Fiber gonna reach 4500??? Its bounce from last swing at 38 fibo...

Anyone gonna update some chart?
It may and it may not.

But notice how the last three daily candles have looked like. They don't show much bullish momentum left. Considering Price action is'nt only looking for some key shapes and figures for the bars to be in but it also invlolves trying to get the "feel" of the overall mood of the pair. These last three candles have shown that the price retested 1.4 thrice and was rejected, To me I am very clear as to what i should be expecting price to do. how abt you John?

http://i81.photobucket.com/albums/j2.../eudaily-1.gif

Regards,
Ghous.
I believe . . .
  • #17,533
  • Dec 26, 2008 1:11am Dec 26, 2008 1:11am
Quoting ghous
It may and it may not.

But notice how the last three daily candles have looked like. They don't show much bullish momentum left. Considering Price action is'nt only looking for some key shapes and figures for the bars to be in but it also invlolves trying to get the "feel" of the overall mood of the pair. These last three candles have shown that the price retested 1.4 thrice and was rejected, To me I am very clear as to what i should be expecting price to do. how abt you John?

Regards,
Ghous.
Hey Ghous,

Thanks for replying. Here is my opinion.

1) Lack of momentum; its normal since its end of year and many traders already left the market.

2) Its been 3 times price arent able to break 38 fibo from last swing high and if you do fibo (what james had mention earlier) you can see that price is holding the 61.8 level at the same time.

3) We do have 2 bars with same low which back to James, its chances to trend to break.

What say you Ghous?
  • #17,534
  • Dec 26, 2008 1:14am Dec 26, 2008 1:14am
Eur/usd

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  • #17,535
  • Dec 26, 2008 2:10am Dec 26, 2008 2:10am
AUD/USD

Anyone thinking that price will break through the .6850 PPZ on this pair? Looks like orders maybe built up on this thing. Been hugging the PPZ for awhile.
Attached Image (click to enlarge)
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,536
  • Edited 2:24am Dec 26, 2008 2:22am | Edited 2:24am
Quoting LasVahGoose
AUD/USD

Anyone thinking that price will break through the .6850 PPZ on this pair? Looks like orders maybe built up on this thing. Been hugging the PPZ for awhile.
IMHO, I would wait for confirmation as I see the price is still ranging and we have quite strong s/r. What do you guys think? Still learning, so please correct me if I make mistake.
  • #17,537
  • Dec 26, 2008 2:43am Dec 26, 2008 2:43am
Quoting arcus
IMHO, I would wait for confirmation as I see the price is still ranging and we have quite strong s/r. What do you guys think? Still learning, so please correct me if I make mistake.
Kinda agreed with you buddy. Ill allow that pair to form 2 eyes with small nose.. hurm...
  • #17,538
  • Dec 26, 2008 5:20am Dec 26, 2008 5:20am
Quoting LasVahGoose
AUD/USD

Anyone thinking that price will break through the .6850 PPZ on this pair? Looks like orders maybe built up on this thing. Been hugging the PPZ for awhile.
I think that the Aussie is ready for a break upwards. It won't happen now, during holiday season. The Aussie has all the reasons strengthen on the expense of the greenback.
  • #17,539
  • Dec 26, 2008 8:35am Dec 26, 2008 8:35am
Quoting Yohay
I think that the Aussie is ready for a break upwards. It won't happen now, during holiday season. The Aussie has all the reasons strengthen on the expense of the greenback.
On fundamentals, I agree that it should. But let's just watch what happens at the key levels eh?
Bundy's status today: "Waiting..."
  • #17,540
  • Dec 26, 2008 8:43am Dec 26, 2008 8:43am
Quoting LasVahGoose
AUD/USD

Anyone thinking that price will break through the .6850 PPZ on this pair? Looks like orders maybe built up on this thing. Been hugging the PPZ for awhile.
It could, but I would be watching for a stop hunt personally, at least for daily moves.
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