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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

  • #22,701
  • Feb 27, 2009 9:27am Feb 27, 2009 9:27am
Quoting PipGator
Hey, Josh.

I am just a rookie, but I believe that a Fib may be drawn from a High to Low or from a Low to High depending on the direction of price. In a downtrend, a Fib is drawn from a significant High to the most recent swing Low. In an uptrend a Fib is drawn from a significant Low to the most recent swing High. In the chart that Ghous posted, his Fib was drawn within a "mini" uptrend, hence the upside-down Fib. A better explanation may be found here.
I agree that it can be drawn either direction. However for the direction he has it drawn, he would be looking for a swing low (Not a swing high). In other words, these FIBs would be looking for a % retrace from the highs at 0.6850ish...

http://www.forexfactory.com/showpost...ostcount=22673

Or am I just way off here...

Josh
  • #22,702
  • Feb 27, 2009 9:40am Feb 27, 2009 9:40am
Quoting raczekfx
not on yen.. missed my entry @ 137.
i'm long gu, eu, au and nu
HI Rac,

May I ask what are your targets on E/U?

I am long at 1.2655. TP1 at 1.2730 and TP2 at 1.2830 Stop at 1.2599
If price dont get to any of that points above, I'll close all positions before market closes.

ty in advance,
  • #22,703
  • Feb 27, 2009 9:42am Feb 27, 2009 9:42am
what's going on!!

it's Friday people - the day of long lunches, leaving early and going to the pub

been very little all week and now signs everywhere. Did this last week as well.

not very impressed Mr Fx - i think this is very anti-social. Now i am just going to have to stay in front of my PC.
  • #22,704
  • Feb 27, 2009 9:43am Feb 27, 2009 9:43am
Quoting raczekfx
dj.
.
Sorry reczekfx, but I don't understand. You had this resistance on the DJ, so you waited for it to approach, and then went long on GBP/JPY? Or you waited for it to turn around, and then hopped onto the GBP/JPY? Interesting stuff, trying to learn this sort of thing, but is just a tad over my head atm Appreciate the ideas though
  • #22,705
  • Feb 27, 2009 9:43am Feb 27, 2009 9:43am
Quoting Luso
HI Rac,

May I ask what are your targets on E/U?

I am long at 1.2655. TP1 at 1.2730 and TP2 at 1.2830 Stop at 1.2599
If price dont get to any of that points above, I'll close all positions before market closes.

ty in advance,
1. 1.27 (just hit) moved stop to be @1.26326
2. 1.3060
  • #22,706
  • Feb 27, 2009 9:48am Feb 27, 2009 9:48am
4 or 5 times is a charm razcek?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #22,707
  • Feb 27, 2009 9:49am Feb 27, 2009 9:49am
Oh dear God, say good bye to the dollar... crashing all around
Dr. C
  • #22,708
  • Feb 27, 2009 9:49am Feb 27, 2009 9:49am
Quoting simoncs
what's going on!!

it's Friday people - the day of long lunches, leaving early and going to the pub

been very little all week and now signs everywhere. Did this last week as well.

not very impressed Mr Fx - i think this is very anti-social. Now i am just going to have to stay in front of my PC.

LOL... I bet who still long from the weekly PB on E/U are right now going to the pubs...
4h BUOB on E/U (IBfx feed)

Ty RAC for the quick answer... stops at be now...

good weekend all
  • #22,709
  • Feb 27, 2009 9:51am Feb 27, 2009 9:51am
Quoting jarroo
4 or 5 times is a charm razcek?
looking at my entry in the pf... he, he?
I'm still in from the fourth.... (survived sl by 30ps thanks to dj)
  • #22,710
  • Feb 27, 2009 9:55am Feb 27, 2009 9:55am
i sure missed that GJ ride. also the USDCHF sell.
100% of traders are losers. Just that some win more than they lose!
  • #22,711
  • Feb 27, 2009 9:56am Feb 27, 2009 9:56am
Quoting Jlr
Sorry reczekfx, but I don't understand. You had this resistance on the DJ, so you waited for it to approach, and then went long on GBP/JPY? Or you waited for it to turn around, and then hopped onto the GBP/JPY? Interesting stuff, trying to learn this sort of thing, but is just a tad over my head atm Appreciate the ideas though
you have check post 22701

These are not ideas, but a rock solid system supported by the PA.
I don't trade on ideas....
  • #22,712
  • Feb 27, 2009 10:16am Feb 27, 2009 10:16am
Quoting raczekfx
1. 1.27 (just hit) moved stop to be @1.26326
2. 1.3060
what a trade...
Congratulation!!!
  • #22,713
  • Feb 27, 2009 10:30am Feb 27, 2009 10:30am
Quoting raczekfx
you have check post 22701

These are not ideas, but a rock solid system supported by the PA.
I don't trade on ideas....
I hear you, I just meant to me, they are just ideas To you, they are probably certain amounts of $
Sorry I read your post on that page #, I still don't understand (I think you linked wrong post). Does anyone care to clarify, is it the DJIA finding support, and you go long on the correlated pair (the xx/yen)? Obviously probably more to it, but is that the jist of it? Just want to make sure I'm not totally off. Ty
  • #22,714
  • Feb 27, 2009 10:30am Feb 27, 2009 10:30am
This markets have been crazy at the end of the last weeks...
big guys having fun stop hunting retail scalpers? humm...
I am not playing that game anymore thanks to James16 and his team (rac, clockwork, mbqb11 and others ))
  • #22,715
  • Feb 27, 2009 10:35am Feb 27, 2009 10:35am
Quoting Luso
This markets have been crazy at the end of the last weeks...
big guys having fun stop hunting retail scalpers? humm...
I am not playing that game anymore thanks to James16 and his team (rac, clockwork, mbqb11 and others ))
I agree with you... It happened the same last Friday and I was on the wrong side both times hahaha
  • #22,716
  • Feb 27, 2009 10:54am Feb 27, 2009 10:54am
Quoting Mr demark
i sure missed that GJ ride. also the USDCHF sell.
Vi Veri Veniversum Vivus VICI !!!!

("By the power of truth I, a living man have conquered the universe")

Would be a good quote for the James16 PA also.

I love that film ! ! !, awesome film . . .

Not to worry, you will slam it next week man.
  • #22,717
  • Feb 27, 2009 12:02pm Feb 27, 2009 12:02pm
I believe you are correct. After taking another look at the chart I deleted my post. I suppose, though, that a 50% fib will appear at the same price regardless of the direction it is drawn.

Quoting Jduester
I agree that it can be drawn either direction. However for the direction he has it drawn, he would be looking for a swing low (Not a swing high). In other words, these FIBs would be looking for a % retrace from the highs at 0.6850ish...

http://www.forexfactory.com/showpost...ostcount=22673

Or am I just way off here...

Josh
  • #22,718
  • Feb 27, 2009 12:24pm Feb 27, 2009 12:24pm
Quoting Mr demark
i sure missed that GJ ride. also the USDCHF sell.
I did too, but a man has got to sleep sometime. Also missed on E/J, but got the ride down... or most of it.

What grade would these long trades off PBs merit? To me they look like they were in PPZ, with confluence off the 365 ema on the 4 hr.
  • #22,719
  • Feb 27, 2009 2:46pm Feb 27, 2009 2:46pm
Quoting ghous
Did somebody catch this??
No, but this one...
Great job, ghous!

RM
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  • #22,720
  • Feb 27, 2009 3:23pm Feb 27, 2009 3:23pm
For m5 fans, hope you are still here :-)

http://img23.imageshack.us/img23/6906/gum5.gif
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