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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

  • #41,861
  • Aug 24, 2009 4:57am Aug 24, 2009 4:57am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
just a second, let me find it and attach here

Quoting ayour2a
hi,do u have the indicator that place round number on the chart?Pls,i need it.Thanks.

ayour2a
  • #41,862
  • Aug 24, 2009 5:00am Aug 24, 2009 5:00am
Quoting Jduester
Just something I'm watching. Not trading much 1hr yet...

Josh
hey josh,
watching this too, i actually had a buy limit @ 1.428 but wasnt triggered, dont worry its all on demo...im playing around with rac's fibs
nice confluence though (forgot the trendline)
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Simplicity is the key to success
  • #41,863
  • Aug 24, 2009 5:03am Aug 24, 2009 5:03am
Quoting krue


what is your take? TML or still pin?

mine looks like this
Its a couple a PBs on my charts. The thing is . . . I really liked this area of confluence at this .8700 PPZ.

If I liked it so much why didn't I take a Raczek entry when it got close to the .8700. . . . I still need Bar confirmation at these levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #41,864
  • Aug 24, 2009 5:06am Aug 24, 2009 5:06am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
here you are

Quoting krue
just a second, let me find it and attach here
Attached File(s)
File Type: mq4 RoundNumbers.mq4   3 KB | 542 downloads
  • #41,865
  • Aug 24, 2009 5:10am Aug 24, 2009 5:10am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
exactly, jarroo, this was one of the points I took for the charts I posted earlier. of course, I should haven't, given my current level of skill.

Quoting jarroo
Its a couple a PBs on my charts. The thing is . . . I really liked this area of confluence at this .8700 PPZ.

If I liked it so much why didn't I take a Raczek entry when it got close to the .8700. . . . I still need Bar confirmation at these levels.
  • #41,866
  • Aug 24, 2009 5:10am Aug 24, 2009 5:10am
Quoting krue
here you are
krue,thanks alot
  • #41,867
  • Aug 24, 2009 5:14am Aug 24, 2009 5:14am
Quoting jarroo
These dogs just don't hunt.

As you can see, this is an example of a non-hard break (orange). lol (see hourly chart)

Now it still may work out because I do like the confluenced location. But no hard break and I'm out.
Sometimes it might be the time of day, and this pair is sooo S L O W... New PB broke about an hour ago. I personally like these kinds of areas to trade. Nice, well defined range. 4 hr had some divergence as well.

But it seems like this is angling for a bounce north - but i hate to take on any bias on purpose...
I'm pretty much done with all this ...
  • #41,868
  • Aug 24, 2009 5:17am Aug 24, 2009 5:17am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
probably give me a little more of your insight, if I may? are you going to scale in at the red arrow point, if scale in be part of your style? thanks as always



Quoting jarroo
Its a couple a PBs on my charts. The thing is . . . I really liked this area of confluence at this .8700 PPZ.

If I liked it so much why didn't I take a Raczek entry when it got close to the .8700. . . . I still need Bar confirmation at these levels.
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  • #41,869
  • Aug 24, 2009 5:18am Aug 24, 2009 5:18am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
any time

Quoting ayour2a
krue,thanks alot
  • #41,870
  • Aug 24, 2009 5:22am Aug 24, 2009 5:22am
Quoting StoragePro
Sometimes it might be the time of day, and this pair is sooo S L O W... New PB broke about an hour ago. I personally like these kinds of areas to trade. Nice, well defined range. 4 hr had some divergence as well.

But it seems like this is angling for a bounce north - but i hate to take on any bias on purpose...
Thanks, SP.

Yeah, I was holding on a little longer because of the time of Day. I've seen them break hard during this earilier time, . . didn't want to miss it if it did. lol

Many confluences on the short bias side . . . . its hard not to see any thing different, but I agree.
Indicators show the past. Price Action "Indicates" the future.
  • #41,871
  • Edited 5:47am Aug 24, 2009 5:29am | Edited 5:47am
Quoting krue
exactly, jarroo, this was one of the points I took for the charts I posted earlier. of course, I should haven't, given my current level of skill.
There is nothing wrong with focusing on great locations, krue. It really is the main power behind a great setup. When we first start out, we focus on the Price Action patterns because its new to us. This is not a bad thing to do. But its said on this thread many times (as with Real Estate) Location, location, Location.

Find time to study many of Raczek's charts. That is one thing that he is fantastic at analyizing . . . great layered locations for Price to flip or continue.
Indicators show the past. Price Action "Indicates" the future.
  • #41,872
  • Aug 24, 2009 5:33am Aug 24, 2009 5:33am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
very well said, jarroo , limit order in place to set the trap now, wish could rock with your short trade shortly.

Quoting jarroo
There is nothing wrong with focusing on great locations, krue. It really is the main power behind at great setup. When we first start out, we focus on the Price Action patterns because its new to us. This is not a bad thing to do. But its said on this thread many times (as with Real Estate) Location, location, Location.

Find time to study many of Raczek's charts. That is one thing that he is fantastic at analyizing . . . great layered locations for Price to flip or continue.
  • #41,873
  • Aug 24, 2009 5:41am Aug 24, 2009 5:41am
Quoting krue
probably give me a little more of your insight, if I may? are you going to scale in at the red arrow point, if scale in be part of your style? thanks as always
No, I won't scale in at that level. I will use that level to see if Price retests my entry and then continues down. This will help confirm that my entry is correct to get to the next area, which is my 1st TP.
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Indicators show the past. Price Action "Indicates" the future.
  • #41,874
  • Aug 24, 2009 6:01am Aug 24, 2009 6:01am
Still not comfirmed on 4h but already in position on 5min.

Interesting
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  • #41,875
  • Aug 24, 2009 6:04am Aug 24, 2009 6:04am
wait a minute . . isn't that a 1-2-3 bottom on the Weekly Eur/Gbp?

This may change things. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #41,876
  • Aug 24, 2009 6:16am Aug 24, 2009 6:16am
Quoting jarroo
wait a minute . . isn't that a 1-2-3 bottom on the Weekly Eur/Gbp?

This may change things. lol
1,2,3 - A,B,C, baby you and me... oops - I was channeling the Jackson 5.

like i said, i hate to take a bias, it messes with my brain, but I am very interested in strong PA at the 61.8 fib shown in the chart, or perhaps as a pullback on a breakout of the channel. Gray boxes are some target areas for north and south moves from our range.

We've poked through the 150EMA, let's see if it stays there.
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I'm pretty much done with all this ...
  • #41,877
  • Aug 24, 2009 6:25am Aug 24, 2009 6:25am
pow.

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When you have to shoot, shoot. Dont talk.
  • #41,878
  • Aug 24, 2009 6:28am Aug 24, 2009 6:28am
Quoting StoragePro
1,2,3 - A,B,C, baby you and me... oops - I was channeling the Jackson 5.

like i said, i hate to take a bias, it messes with my brain, but I am very interested in strong PA at the 61.8 fib shown in the chart, or perhaps as a pullback on a breakout of the channel. Gray boxes are some target areas for north and south moves from our range.

We've poked through the 150EMA, let's see if it stays there.
Alot of energy for Monday, SP. lol

That range is pretty tight. Pullback on a break, with confirming PA looks like the best way to go. I'm sure Mike would agree.

Just thought we would range a little longer, that's what they do most of the time, right? lol
Indicators show the past. Price Action "Indicates" the future.
  • #41,879
  • Aug 24, 2009 6:31am Aug 24, 2009 6:31am
Quoting joelcf
pow.
That's what I'm talking about. KaBoom!

Nice Joel.
Indicators show the past. Price Action "Indicates" the future.
  • #41,880
  • Aug 24, 2009 7:03am Aug 24, 2009 7:03am
Quoting jarroo
Alot of energy for Monday, SP. lol
Yeah - weird.

Quote
That range is pretty tight. Pullback on a break, with confirming PA looks like the best way to go. I'm sure Mike would agree.

Mike would also be looking for an eclipse on Jupiter... Confluence.

Quote
Just thought we would range a little longer, that's what they do most of the time, right? lol

Yeah - whatever comes is goodness. This pair is pretty slow - traditionally speaking. If it goes lower, I'd be interested in where the channel bottom would go. I could guess - 8450, 8400.

For now, we track the game...
I'm pretty much done with all this ...
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