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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

  • #44,501
  • Edited 10:49am Sep 24, 2009 10:05am | Edited 10:49am
I thought I'd share my conversation with Patrick (Seeking Light) in the PF on Sept. 22. Everything played out just like we called it.

Voodoo you say?
No, I've learned it from Jim and his videos. Add little common sense and you're on your way...

I've wasted way too much money before on self proclaimed trading gurus, bogus websites and useless trading books written by folks who never made any money from trading...
I'm fortunate I came to my senses and eventually found this thread.

Happy trading and Enjoy the day.

Quoting raczekfx
..
I know that many are looking/aiming at 1.50, but from looking at the charts, I'd say 1.4850/80 would be it (if we can get that high of course). Regardless, I have a fair size sell limit order waiting
Quoting raczekfx
Right, I'm not really hoping for full blown reversal. We'd have to hit the top on EU, spiral down some 150 pip, move back up to test the top and then plunge.. I'm just setting up a trade for those 150 pips. ...
We'll see what will happen... but before FOMC meeting any price you can get above 4800 is a bonus...(if you're going short. )
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  • #44,502
  • Sep 24, 2009 10:13am Sep 24, 2009 10:13am
Quoting raczekfx
I thought I'd share my conversation with Patrick (Seeking Light) in the PF on Sept. 22. Everything played out just like we called it.
Voodoo you say?
No, I've learned it from Jim and his videos. Add little common sense and you're on your way....
REGARDLESS....
i'd like it to remain & be called 'voodoo'.
it has such a nice ring to my ear,
& to me it's synonymous to 'par excellence'.
Thanks for sharing Sir!!

EDIT: just noticed..
the first quote is invalid/page error
the second quote/link takes me to this: VantagePoint Discuss.thread..
  • #44,503
  • Sep 24, 2009 10:16am Sep 24, 2009 10:16am
Quoting raczekfx
Price pulls back to rac's favor retrace, 4hr ppz with fib confluence.
Then we are blessed with a nice PA off of that area. Everything looks kosher so we are ready for ... Kaaabooom.
.

thnk u RAC for ur continuous posts
learnt a lot
being testing ur methods with great success, being telling myself its fluke ...lol
after a couple of months forward testing , i wont call it fluke anymore
oops! this is actually meant to be sent to the pf
anyways ill post it here & there
cheers
long live RAC ATTACK
Simplicity is the key to success
  • #44,504
  • Sep 24, 2009 10:26am Sep 24, 2009 10:26am
Quoting squeezy
thnk u RAC for ur continuous posts
.....
long live RAC ATTACK


it's no fluke. it's called voodoo.
Long live indeed....
  • #44,505
  • Sep 24, 2009 10:47am Sep 24, 2009 10:47am
Quoting squeezy
..
being testing ur methods with great success, being telling myself its fluke ...lol
after a couple of months forward testing , i wont call it fluke anymore
....

I'm happy for you. Many pips.

One step at a time, we'll change the world..

Quote
EDIT: just noticed..
the first quote is invalid/page error
the second quote/link takes me to this: VantagePoint Discuss.thread..

I don't think links would work. I copy and pasted these posts from the PF
  • #44,506
  • Sep 24, 2009 11:02am Sep 24, 2009 11:02am
Quoting raczekfx
...
One step at a time, we'll change the world..
I don't think links would work. I copy and pasted these posts from the PF
yes Sir, i just checked the links above out of curiosity & blurted out my observation
  • #44,507
  • Edited 12:10pm Sep 24, 2009 11:07am | Edited 12:10pm
Quoting raczekfx
I'm happy for you. Many pips.

One step at a time, we'll change the world..



I don't think links would work. I copy and pasted these posts from the PF
thnx RAC
more practice till i get comfortable, then go live with a small acc ofcourse



Quoting supremeChaos


it's no fluke. it's called voodoo.
Long live indeed....
remember supreme ,u shld me how to double post...lol
learnt a lot from a lot of people here, cnt thnk u guys enuff
yeah! give me more months of practice
not going to rush anything, money will still be on table for taking then
here is just one of the trades i took today
not sure if been posted already, havnt gone some pages back yet
gbyjpy 4hr trade, 50 fib, tl, ppz, divergence confluence
(some not shown on charts, not to cluster it)
back to studying for me
cheers guys & thnx again

edit: i just rechecked & even all the base system emas lined up for best confluence.....sweet
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Simplicity is the key to success
  • #44,508
  • Sep 24, 2009 11:11am Sep 24, 2009 11:11am
Quoting bundyraider
What next??

Anyone else got this on the radar?
Daaammmmnnnn Bundy! Slow down there big guy, you're gonna give me a heartattack. I've seen a lot of tens in my day, but that tops any ten I've ever met. I saw that post and agreed and agreed and agreed. We'll see how she rides out my man,

BTW, just took all profit on this at 1.6075 from 1.6375. I'm waiting to see this area hold price off a bit and make for a bounce. Yeah, that's nice.
I dream, therefore I become.
  • #44,509
  • Sep 24, 2009 11:12am Sep 24, 2009 11:12am
Quoting raczekfx
Price pulls back to rac's favor retrace, 4hr ppz with fib confluence.
Then we are blessed with a nice PA off of that area. Everything looks kosher so we are ready for ... Kaaabooom.
.
A question for you Mark,

I passed on the Usd/cad despite acknowledging that ppz. wouldn't that fall into a >3 touch trade? I see 5 bar lows right next to the one I assume you took. (the last one before price bowed down to you)

I've busy working on my touch trades recently so would really appreciate some feedback.

g.
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I believe . . .
  • #44,510
  • Sep 24, 2009 11:18am Sep 24, 2009 11:18am
This should be interesting in due time. I'd like to see some solid conviction here.
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I dream, therefore I become.
  • #44,511
  • Sep 24, 2009 11:24am Sep 24, 2009 11:24am
watching this zone, waiting a pullback around 0.908x....
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #44,512
  • Sep 24, 2009 11:31am Sep 24, 2009 11:31am
Quoting Rocket!
Yup, well said Jaroo. You're right of course, too many cons(space being the main issue). That being said I did take it on Demo.
Woke up. 135 pips. Bam smack off my ppz zone and the weekly wedge line.

Man I love this stuff...

Bundys charts are awesome! Shows exactly what Im looking for on GU. Breakout of weekly wedge and pullback to ppz/round number ala the Master(Mike!)...

Looking at the 4hr there could be a very nice pin shaping up at a great location. Maybe theres more steam left in this wedge/range?

Lets see what happens...
I didn't take it, meaning I didn't place an order and then I saw the hard break. (darn it. lol)

These not-so-great, sub A trade setups need to be managed tightly, meaning not in the traditional sense of a stop loss placement which is above/below the given "A" trade setup. IMO.

How tight? I'm getting to a point if they have any drawn down over 20 pips (depending on the pair), I'm out. These 2 sub A setups broke hard and had ZERO drawdown. Why should I stay with anything less?
I'm sure Joel and others had a taste of that on the 4 hour PB on the Cad recently.

Just something to think and drool about.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #44,513
  • Edited 12:02pm Sep 24, 2009 11:45am | Edited 12:02pm
Quoting bundyraider
I love it when you guys put time into projects like this.

I think you've covered the most useful and consistent posters above. If you're going to add someone else to the compilation make it Jarroo, for sure. He has posted a LOT of consistent examples since he's been here. That'd be very useful for new gals and guys to go through.

The other one from early on would be Habeeb. ...Before the slack bugger put his family first and disapeared (....Yeah...I know you'll pick up on your name mentioned , mate. ).

Thanks Bundy.

Some may say that I got "lucky" with many of those before-the-fact PA setups. But you will notice that the more patient I was, the more consistent I became.

Trading is waiting. (Where did I hear that before? )

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #44,514
  • Sep 24, 2009 12:29pm Sep 24, 2009 12:29pm
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  • #44,515
  • Sep 24, 2009 12:39pm Sep 24, 2009 12:39pm
Hi.

Hehe benji you amaze me all the time. Nicely done !
But didnt you felt scared about those highs left of your pin bar ?
  • #44,516
  • Sep 24, 2009 12:56pm Sep 24, 2009 12:56pm
Quoting jarroo
I didn't take it, meaning I didn't place an order and then I saw the hard break. (darn it. lol)

These not-so-great, sub A trade setups need to be managed tightly, meaning not in the traditional sense of a stop loss placement which is above/below the given "A" trade setup. IMO.

How tight? I'm getting to a point if they have any drawn down over 20 pips (depending on the pair), I'm out. These 2 sub A setups broke hard and had ZERO drawdown. Why should I stay with anything less?
I'm sure Joel and others had a taste of that...
I didn't take it either J.

Mind hasn't been in the right place lately (too much stress). Congrats to those that did take it. Hopefully this is the start of the next leg down. Come on uncle buck you can do it!
"Don't trade to trade . . . trade to win." - James16
  • #44,517
  • Edited 1:11pm Sep 24, 2009 1:00pm | Edited 1:11pm
Quoting atton
Hi.

Hehe benji you amaze me all the time. Nicely done !
But didnt you felt scared about those highs left of your pin bar ?
You are right. But it was based on a little different style, which gave me the green light. The pin on the lower TF was a B+ pin though (better then mine...it's probably because this month I'm way far far above my monthly gain %...so the adrenalin goes up to my brain lol....but basically diffenetly not an A+ trade )

Ben
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  • #44,518
  • Sep 24, 2009 1:12pm Sep 24, 2009 1:12pm
Nice set up....is one of my favorite.Price break a Trend Line,and than it pulls back forming a Pin Bar.

My compliments Benji.
Patience is essential
  • #44,519
  • Sep 24, 2009 2:04pm Sep 24, 2009 2:04pm


Why didn't any tell me?!?!??!?!?!
It was saving me all this blablabla with my father!

PS - Thank you benmen
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  • #44,520
  • Sep 24, 2009 2:16pm Sep 24, 2009 2:16pm
Quoting benji533


Why didn't any tell me?!?!??!?!?!
It was saving me all this blablabla with my father!

PS - Thank you benmen

no stopping you now Ben...

go get some...
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