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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

  • #21,761
  • Feb 18, 2009 10:43am Feb 18, 2009 10:43am
Quoting mbqb11
Not to stick words in his mouth but

Mark is a support and resistance trader. He also uses the heavy correlations(especially as of late), from the DOW as a leading indicator.

Simply DOW rises carry pairs rise( xxx/jpy). So when he saw the DOW hit the last line of support so to speak hoping for a bounce, he uses that to help trade his other pairs, as they will follow

Mike
mark??
Don't chase the market, Let the market come to you
  • #21,762
  • Feb 18, 2009 10:45am Feb 18, 2009 10:45am
Quoting Tmac
mark??
aka Raczekfx
  • #21,763
  • Feb 18, 2009 10:47am Feb 18, 2009 10:47am
Quoting Tmac
mark??
Mark = Rac Right?
"Don't trade to trade . . . trade to win." - James16
  • #21,764
  • Feb 18, 2009 10:47am Feb 18, 2009 10:47am
Quoting raczekfx
bought following when dow futures hit 7460 sr

long ej 116.88
long gj 132.20
long chf/j 79.20

next obstacle is bernarke at 1
if market likes what he's got to say. we should get nice run up on yen crosses if not, we get stop out at be+1 and move on...
.
Hey Rac-

How much easier is it to take a yen trade when you have access to a DJI chart and are able to look at that as well?
  • #21,765
  • Feb 18, 2009 10:54am Feb 18, 2009 10:54am
What do you guys make of this? It seems like this pair has been ranging for a bit but it looks like we are at a significant ppz. Thoughts?
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  • #21,766
  • Feb 18, 2009 10:54am Feb 18, 2009 10:54am
Quoting moneybags
aka Raczekfx
mmmmmm ok
Don't chase the market, Let the market come to you
  • #21,767
  • Feb 18, 2009 10:56am Feb 18, 2009 10:56am
Quoting mbqb11
Not to stick words in his mouth but

Mark(raczefx) is a support and resistance trader. He also uses the heavy correlations(especially as of late), from the DOW as a leading indicator.

Simply DOW rises carry pairs rise( xxx/jpy). So when he saw the DOW hit the last line of support so to speak hoping for a bounce, he uses that to help trade his other pairs, as they will follow

Mike
Thanks Mike... you beat me to it. That's exactly what I do in this market conditions and usually I add the next day when PA forms. Don't know why it works like this, but it worked 90% out of time for the last 6-8 months or so and I've been taking advantage of it. Not sure what j16 free video covered, but in a full version of that video, if you listened carefully James mentioned 'blind' entry...
  • #21,768
  • Feb 18, 2009 10:58am Feb 18, 2009 10:58am
Quoting raczekfx
. we should get nice run up on yen crosses if not,
.
here we go and it's not even 1 yet...
  • #21,769
  • Feb 18, 2009 11:28am Feb 18, 2009 11:28am
Anyone keeping an eye out on this ppz.Seems like a pretty strong one on weekly.My question is it doesn't seem to have much space to the left.Would anyone consider taking this trade based on the strong ppz?If of course we get a trigger from PA.
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  • #21,770
  • Feb 18, 2009 11:33am Feb 18, 2009 11:33am
Quoting jlmac27
Anyone keeping an eye out on this ppz.Seems like a pretty strong one on weekly.My question is it doesn't seem to have much space to the left.Would anyone consider taking this trade based on the strong ppz?If of course we get a trigger from PA.
yep a few scenarios could play out. The important part is to identify these strong areas like you did. If you look at the daily there would be space. I will be watching 1.2000 PPZ very closely too
  • #21,771
  • Feb 18, 2009 11:43am Feb 18, 2009 11:43am
Quoting NoBread
what about this??? not done forming but input? and yes bundy instead of taking the trade i went back to sleep i am getting there.
I try and stay away from the 1 hour, but I felt good about this one. PinBar off 32.2 and 78.6 Fibo with a support around the 130.25 area.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #21,772
  • Feb 18, 2009 11:48am Feb 18, 2009 11:48am
Quoting LasVahGoose
I try and stay away from the 1 hour, but I felt good about this one. PinBar off 32.2 and 78.6 Fibo with a support around the 130.25 area.
Great! Text book trade...

Iīve also would have taken the cable at 10:30 if I didnīt have to work?!&%"#$"#&
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"White collar crime deserves a blue collar beating!" - 8fingers
  • #21,773
  • Feb 18, 2009 12:10pm Feb 18, 2009 12:10pm
Quoting hijackxx
Jarro, I have a question on this chart I have on the daily tf. I have studied the price action and actually I did took this short trade quite awhile ago. I was expecting it to go much much lower because it went out of my resistance line there, however, it failed. The green line there was my entry point and my red line was my stop. Would you please comment? Thanks
Where were your S/R levels (PPZs)? What Price Action setup was this based on? Was there any other supporting confluences?
Indicators show the past. Price Action "Indicates" the future.
  • #21,774
  • Feb 18, 2009 12:19pm Feb 18, 2009 12:19pm
Quoting raczekfx
here we go and it's not even 1 yet...
Haha!

Off go my Uj, Ej and Gj longs...

BTW I had to google this Bernanke word you put in that post Mark, he's some kind of a ecnomist right, did he give off some speech that resulted in the push on the yen crossess?

Regards,
Ghous.
I believe . . .
  • #21,775
  • Feb 18, 2009 12:24pm Feb 18, 2009 12:24pm
I think it might end up with great opportunity, if this bar forms a pin
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  • #21,776
  • Feb 18, 2009 12:25pm Feb 18, 2009 12:25pm
If you told you who he is ...and the feds, many people would be offended, so I stop right here...
Quoting ghous
Haha!

Off go my Uj, Ej and Gj longs...

BTW I had to google this Bernanke word you put in that post Mark, he's some kind of a ecnomist right, did he give off some speech that resulted in the push on the yen crossess?

Regards,
Ghous.


btw. I'm flat for now with limit orders waiting....
from another thread (kind of my journal):
Quoting raczekfx
Closed all

ej 117.96
gj 133.60
chf/j 79.50
  • #21,777
  • Feb 18, 2009 12:33pm Feb 18, 2009 12:33pm
Quoting datogio
I think it might end up with great opportunity, if this bar forms a pin
It might... the H4 is forming a hammer. I might watch that one. What do you guys think?
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"White collar crime deserves a blue collar beating!" - 8fingers
  • #21,778
  • Feb 18, 2009 12:35pm Feb 18, 2009 12:35pm
Quoting jlmac27
Anyone keeping an eye out on this ppz.Seems like a pretty strong one on weekly.My question is it doesn't seem to have much space to the left.Would anyone consider taking this trade based on the strong ppz?If of course we get a trigger from PA.
Hi Jlmac,

Somebody around a day ago made a post where he/she was asking why this thread was so special when most of the PA triggers are'nt anything new or as such revolutionary...

What's so special abt following what James does is to understand that trading is a lot more than just looking for a handful of PA triggers even if you're doing it the most conventional way.

A lot regarding your success in this tradng technique has to do with understanding where price is heading in a particular direction and where does it (ifatall) reverse and why...

Loking at the USd/chf...

After price made through the 1.17 level where would you want to see it go to? Should'nt it be the cluster of bar lows marked on my chart? If you've gone through J16's webinar excerpts you would know what I am talking abt.

As sensible traders we want to anticipate that price "should" make it to the
1.19 price level, this is where we want our PA to form, if it's bearish it's obviosuly at a great resistance level and will spell out an A+ location. A bullish pa "ABOVE" the 1.19 would again be off a great location driven from the believe that 1.19 would now act as support.

Now say we actually bust through the 1.19 level and find a great BUOB on the 4H, nice in shape location's good so you take it, where next do you think should price stall? the next set of bar high...eh?

It's dirt simple as James says it's only a matter of time and determination

Regards,
Ghous.
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I believe . . .
  • #21,779
  • Feb 18, 2009 12:39pm Feb 18, 2009 12:39pm
hey there, sorry to bug you guys with off topic question, does any one know who offers a desent spread on AUD/NZD? thanks....
  • #21,780
  • Feb 18, 2009 12:39pm Feb 18, 2009 12:39pm
another opportunity I saw last night. Do we get a two-day PB? It would certainly be very nice.

polish bureaucrats were also talking about intervention... R+O+F+L+O+L
they don't have any reserves to do that, but the word is out and doing some psychological damage to speculators. It might be a great trade after all.
.
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