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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

  • #33,061
  • Jun 10, 2009 2:13pm Jun 10, 2009 2:13pm
Quoting Matiasfx
I took a nice raczekfx type of trade on euro 4h from 50/61.8%fibs / PPZ/ 2bar pin... Working out great so far

Cheers

Matty
ha, ha... right on.. Matt
simple, isn't it?

I've been on it as well, along with cable till just before 2PM. (that's when dow reverses on most days). More to come bro, more to come, gap wants to close...

.
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  • #33,062
  • Jun 10, 2009 2:30pm Jun 10, 2009 2:30pm
50/61 fibs is a powerful thing, especially when combined with ppz and some other confluence, but people tend to complicate their lives with totally unnecessary stuff...
This is the reason why so many mbas, doctors, dentists and rocket scientists fail in this business (they always will).
Out of my many trading friends, the most successful group is .... farmers.
They know exactly how simple life can be.

back to cave.
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  • #33,063
  • Edited Jun 23, 2009 1:40pm Jun 10, 2009 2:36pm | Edited Jun 23, 2009 1:40pm
Quoting raczekfx
ha, ha... right on.. Matt
simple, isn't it?

I've been on it as well, along with cable till just before 2PM. (that's when dow reverses on most days). More to come bro, more to come, gap wants to close...

.
Raz, out of curiosity if you don't mind, did you take E/J? I got taken out on that one just barely, had my entry at 137.66, and my stop just past the 61.8. I was playing a retrace of what also appears to be a 2 day pin. Anything obviously wrong with this trade? There was PPZ there and everything. Not a biggy, caught the one last week, just wondering if I did anything wrong? thanks. Heres a pic btw if it helps... futures was at resistance too, but shot past it to the next point I guess.
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  • #33,064
  • Jun 10, 2009 2:41pm Jun 10, 2009 2:41pm
Hey Alexandra,

Could you post a chart with your thoughts on G/J.?
And your bias on E/U?


Thanks,

Quoting Alexandra
I'm a bull there as well from the weekly on down. One has to respect that bottom on the weekly and the likely new daily highs pending.

The weekly 50 followed by 184 seems prudent. One has to fight off those brewing divergences, though.

Eyes at the moment squarely on E/J and D/J for the PA off solid levels.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #33,065
  • Jun 10, 2009 2:45pm Jun 10, 2009 2:45pm
Quoting ikki
Hey Alexandra,

Could you post a chart with your thoughts on G/J.?
And your bias on E/U?


Thanks,
You're bad, George....
  • #33,066
  • Jun 10, 2009 2:49pm Jun 10, 2009 2:49pm
Quoting Jlr
Raz, out of curiosity if you don't mind, did you take E/J? I got taken out on that one just barely, had my entry at 137.66, and my stop just past the 61.8. I was playing a retrace of what also appears to be a 2 day pin. Anything obviously wrong with this trade? There was PPZ there and everything. Not a biggy, caught the one last week, just wondering if I did anything wrong? thanks. Heres a pic btw if it helps... futures was at resistance too, but shot past it to the next point I guess.
Yes, I did, and rode it till around 2PM est.
Stop just above 61 was not good imo, cause we didn't have any confluence. Trading retraces based on just one indicator will kill your account just like divergence by itself. I waited for PA around TL and 61fib (call it forced confluence). I got a pin on 30min and took it with 12ps sl.
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  • #33,067
  • Jun 10, 2009 3:00pm Jun 10, 2009 3:00pm
Quoting Forex007
Ryan trades IBs with a totally different approach. DIBS "founding father" (Peter Crown) mentioned that there is more to trading IBs than just the rules he described. That's why many people failed with DIBS - purely mechanical approach does not work well.

Perhaps, Ryan's approach can add the angle which could make IBs more profitable (this is off-topic as far as J16 is concerned!!): read his post carefully as he described well what he is looking for with IBs.

DIBS seems to be similar to something called "Big Ben" or "London breakout" -...
There are many different camps about filtering a DIBS trade. And I'm sure Ryan's is with the trend and I agree with that. Looking at the Daily and even the weekly trends are a must.

Also applying higher time frame Price Action, Confluences, etc. discussed on this thread, have made many of my DIBS trades profitable.
Indicators show the past. Price Action "Indicates" the future.
  • #33,068
  • Jun 10, 2009 3:01pm Jun 10, 2009 3:01pm
Quoting raczekfx
Yes, I did, and rode it till around 2PM est.
Stop just above 61 was not good imo, cause we didn't have any confluence. Trading retraces based on just one indicator will kill your account just like divergence by itself. I waited for PA around TL and 61fib (call it forced confluence). I got a pin on 30min and took it with 12ps sl.
Interesting, would of never thought to do that, especially the trendline. Also good points with the one indicator thing. I basically took that trade at that area I mentioned because of the mass divergence on the 5min, and futures level, and what I thought was good PPZ in the 50/61.8 area. Just to clarify, your looking for a good entry with confluence, and also a good area to use as protection for your SL? Your never robotically putting it behind the 61.8? Sorry if these are stupid questions, but they are geniune questions of mine, that I really don't know of the answer thx for the help. Edit: actually I think I get it, thanks again
  • #33,069
  • Jun 10, 2009 3:07pm Jun 10, 2009 3:07pm
Quoting Matiasfx
I took a nice raczekfx type of trade on euro 4h from 50/61.8%fibs / PPZ/ 2bar pin... Working out great so far

Cheers

Matty
A classic raczek trade. If you got in at the 61.8, PPZ, etc, level. Then the bearish 2 bar PB confirms your entry. Nice.
Indicators show the past. Price Action "Indicates" the future.
  • #33,070
  • Jun 10, 2009 3:16pm Jun 10, 2009 3:16pm
Quoting Sohail786
Any insight guys??
A classic Mike "watching" chart. Very nice.
Indicators show the past. Price Action "Indicates" the future.
  • #33,071
  • Jun 10, 2009 3:25pm Jun 10, 2009 3:25pm
On the chart posted below there is a well formed 4hr pin. My question is when looking at taking this as a trade, should I take into account the bar lows to the left indicated by the white circle?

Thanks.

K.I.S.S.
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  • #33,072
  • Jun 10, 2009 3:29pm Jun 10, 2009 3:29pm
Quoting raczekfx
Trading retraces based on just one indicator will kill your account just like divergence by itself.
Excellent. A line worth remembering. I suggest printing it and putting it on your refrigerator. The more confluences the better.

Example:

http://www.forexfactory.com/showpost...ostcount=32317

http://www.forexfactory.com/showpost...ostcount=32408
Indicators show the past. Price Action "Indicates" the future.
  • #33,073
  • Jun 10, 2009 3:34pm Jun 10, 2009 3:34pm
Quoting jarroo
Excellent. A line worth remembering. I suggest printing it and putting it on your refrigerator. The more confluences the better.

Example:

http://www.forexfactory.com/showpost...ostcount=32317

http://www.forexfactory.com/showpost...ostcount=32408
Thats a good idea, I was actually thinking of making a list and putting it into the background of my desktop, think I'll do that today. Btw, who is Jim's son?
  • #33,074
  • Jun 10, 2009 3:38pm Jun 10, 2009 3:38pm
Quoting KissFan
On the chart posted below there is a well formed 4hr pin. My question is when looking at taking this as a trade, should I take into account the bar lows to the left indicated by the white circle?

Thanks.

K.I.S.S.
Absolutely KF. That's what's probably holding it down along with other previous Highs and Lows.
(sorry can't post my own charts)
Indicators show the past. Price Action "Indicates" the future.
  • #33,075
  • Jun 10, 2009 3:45pm Jun 10, 2009 3:45pm
Quoting Jlr
Thats a good idea, I was actually thinking of making a list and putting it into the background of my desktop, think I'll do that today. Btw, who is Jim's son?
You'll have to read a few posts back from there.
Indicators show the past. Price Action "Indicates" the future.
  • #33,076
  • Jun 10, 2009 3:49pm Jun 10, 2009 3:49pm
Quoting jarroo

Example:

http://www.forexfactory.com/showpost...ostcount=32317
Painful memories...
I remember sitting on my hands when price hit 8850, touched the mouse, sat on my hands again, touch the mouse again...etc... Infested my brain with some nonsense post, which read that fiber is aiming at 150. Never traded.
Reading forums can poison your brain sometimes....lol

will we finally break this ej - 3 week trend over the next 2-3 days and get continuation-south on nu...
.
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  • #33,077
  • Jun 10, 2009 3:54pm Jun 10, 2009 3:54pm
Quoting jarroo
You'll have to read a few posts back from there.
Oh right on, a little guy trading, that's pretty cool. How's he doing, does he post here at all? I guess he wouldn't need to much, considering he probably just has to walk into the next room for help. Good stuff
  • #33,078
  • Jun 10, 2009 3:56pm Jun 10, 2009 3:56pm
Quoting jarroo
Absolutely KF. That's what's probably holding it down along with other previous Highs and Lows.
(sorry can't post my own charts)
Ok thanks Jaroo. I thought as much but have never specifically asked.

K.I.S.S.
  • #33,079
  • Jun 10, 2009 3:56pm Jun 10, 2009 3:56pm
Quoting raczekfx
Painful memories...
I remember sitting on my hands when price hit 8850, touched the mouse, sat on my hands again, touch the mouse again...etc... Infested my brain with some nonsense post, which read that fiber is aiming at 150. Never traded.
Reading forums can poison your brain sometimes....lol

will we finally break this ej - 3 week trend over the next 2-3 days and get continuation-south on nu...
.
I remember this happening to me when I first started trading, while watching programs like CNBC and bloomberg. Looking back, wow, what a joke. I was literally just handing my cash away, could of just wrote a check and saved myself stress lol.
  • #33,080
  • Jun 10, 2009 4:04pm Jun 10, 2009 4:04pm
Quoting raczekfx
Painful memories...
I remember sitting on my hands when price hit 8850, touched the mouse, sat on my hands again, touch the mouse again...etc... Infested my brain with some nonsense post, which read that fiber is aiming at 150. Never traded.
Reading forums can poison your brain sometimes....lol

will we finally break this ej - 3 week trend over the next 2-3 days and get continuation-south on nu...
.
While you where sitting on your hands I was thinking "Mark is all over this one". lol
Indicators show the past. Price Action "Indicates" the future.
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