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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

  • #47,301
  • Oct 30, 2009 12:24pm Oct 30, 2009 12:24pm
Quoting KissFan
That's me in the Avatar and in all of my profile pics. I have many passions in life but Keeping It Simple, Riding in the Dirt and listening to KISS are a daily regimen.

K.I.S.S.
There's a new movie you may have seen by Mike Judge (who did the excellent Office Space) called Extract. Gene Simmons has a cameo as a sleazy personal injury lawyer. He is freaking hilarious.

And thanks dude. I'll be sure to look you up when I hit Texas. There's another quite talented trader who lives in texas but his name escapes me right now...
  • #47,302
  • Oct 30, 2009 12:25pm Oct 30, 2009 12:25pm
Quoting KissFan
That's me in the Avatar and in all of my profile pics. I have many passions in life but Keeping It Simple, Riding in the Dirt and listening to KISS are a daily regimen.

K.I.S.S.
I play in a band (play out only 3-4 times per month), so I can't help but dig that pic.......ha ha.
  • #47,303
  • Oct 30, 2009 1:02pm Oct 30, 2009 1:02pm
Quoting raczekfx
This market has been a tease lately, but.... this week has been a real treat as you ride on people's fear and greed...
Just wonder what is big ben and his ppt crew going to do about it...
Support it or let it fall, fall, fall....all the way to 9k
If only yen crosses could talk...
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  • #47,304
  • Oct 30, 2009 1:57pm Oct 30, 2009 1:57pm
Quoting raczekfx
J
Hey rac,

Looks familiar, making sense?

THANK YOU
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  • #47,305
  • Oct 30, 2009 2:24pm Oct 30, 2009 2:24pm
Quoting benji533
Thanks Jim

Yep I was looking at this level from yesterday already, looking for a demo touch trade. It is even a fib level

Quoting jarroo
Sweet! I just noticed that. (not at my regular charts.)

I bet Rac caught that one too. lol
At a second look, (on my regular charts), an exact lining up with a fib level or 50% ret. level with the 1.4850 PPZ level on the Euro is not there. Just a pure PPZ level play, which is not a bad thing.

That check mark sure looks familiar.
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Indicators show the past. Price Action "Indicates" the future.
  • #47,306
  • Oct 30, 2009 2:30pm Oct 30, 2009 2:30pm
Quoting raczekfx
This market has been a tease lately, but.... this week has been a real treat as you ride on people's fear and greed...

Enjoy the weekend.
These are great. Thanks Rac.

Wow! . . . look at that Aud/Usd . . . . PPZ level, 61.8 Fib and trendline confluence. Freaking awesome.
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Indicators show the past. Price Action "Indicates" the future.
  • #47,307
  • Oct 30, 2009 2:30pm Oct 30, 2009 2:30pm
Quoting o990l6mh
I feel quite the same on this Benji.

PPZs and price action make so much sense, but the fibs and moving averages don't.

I don't use them either, well, every now and then I'll throw on a fib to see, but I can't quite get to like them.

Maybe I will learn to use them. The skilled people here find them useful, so of course they are. We all have to find our own style that we feel comfortable with. Maybe fibs and MAs aren't part of our style... yet...
M (it's alright, I'm not stalking you!) & Benji (good to see you again!),

I suspect that MAs and Fibs work for the same reason that PPZ and PA do - they are a self-fulfilling prophecy. So many traders are watching them that price responds to them due to the number of orders at that point. Why do different MA's still work? Because again they are 'zones' and to be honest a 150MA and a 130MA are pretty darn close most of the time.

Just my humble thoughts!
  • #47,308
  • Oct 30, 2009 3:09pm Oct 30, 2009 3:09pm
Some charts. Was late on audnzd entrance. Everything other looks good for Monday.
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  • #47,309
  • Oct 30, 2009 3:51pm Oct 30, 2009 3:51pm
Can anyone post u/j and cad/j for me please? Can't get to my charts right now and anxious to see what happened I see a/u worked nicely
  • #47,310
  • Oct 30, 2009 4:07pm Oct 30, 2009 4:07pm
Quoting benji533
Hey rac,

Looks familiar, making sense?

THANK YOU

Very well done... Benji..

Shorting yen crosses was no brainer last night, but you have to have either guts or simply know the odds. Looking at just one chart and relying on past experience we figured there was 75% chance that they will collapse within several hours. Our small 'circle of friends' shorted right after tokyo open with a tight stop @ 136.10... I only rode it till 133.90 (4hr ppz) but others are still hold the bag
What will happen next?....
.
Quoting jarroo
These are great. Thanks Rac.

Wow! . . . look at that Aud/Usd . . . . PPZ level, 61.8 Fib and trendline confluence. Freaking awesome.
Aha...lol.
I don't know how you do it J...
I get tired of posting/typing after a while..
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  • #47,311
  • Oct 30, 2009 4:19pm Oct 30, 2009 4:19pm
Hi. It is my demo account so I am not so worried but it is ... strange .. for me.. I shorted Chf/Jpy today and I put my stop at 89.54 and... I was stopped out ... Any clues why this happened ?
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  • #47,312
  • Oct 30, 2009 4:34pm Oct 30, 2009 4:34pm
uj and cad yen
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  • #47,313
  • Oct 30, 2009 4:44pm Oct 30, 2009 4:44pm
Quoting atton
Hi. It is my demo account so I am not so worried but it is ... strange .. for me.. I shorted Chf/Jpy today and I put my stop at 89.54 and... I was stopped out ... Any clues why this happened ?
It looks like your spread may have popped out a little bit on volatility. If that was earlier in the morning, I'd put that as the best bet.
I dream, therefore I become.
  • #47,314
  • Oct 30, 2009 5:17pm Oct 30, 2009 5:17pm
Quoting mike w
It looks like your spread may have popped out a little bit on volatility. If that was earlier in the morning, I'd put that as the best bet.
Hm thanks but that sucks ! I ve missed that big down move ..
  • #47,315
  • Edited 5:28pm Oct 30, 2009 5:17pm | Edited 5:28pm
Quoting FX_Serg
Some charts. Was late on audnzd entrance. Everything other looks good for Monday.
Am I right in saying you are taking a long on AUD/JPY from the Sunday open?

What about GBPY/JPY which closed after a second bounce on the 148 PPZ - would you take this as a long too?
  • #47,316
  • Oct 30, 2009 6:23pm Oct 30, 2009 6:23pm
Well, October is over. Can we officially say goodnight to our lovely inflation-rally of the DJIA that has rode since March?

I think the technicals spell it out nicely (monthly chart). Pin off 50%, 10,000 round number, MACD divergence.... I sold my VNQ (28% gain) shares today which was a saddening moment (it has treated me so well as my first ever stock (er, REIT) purchase ). I'm still clinging onto my Ford shares, even though I sold off almost half of my shares of it after an evening star pattern finished it's formation on Aug 5, 2009 (I was DYING to sell all my shares at that moment, but was extremely new to tech. analysis and didn't have the confidence).

Cannot wait to see what the next 3 months brings.....

http://i380.photobucket.com/albums/o...2/dowcrash.jpg
Many choose unhappiness over uncertainty.
  • #47,317
  • Oct 30, 2009 7:16pm Oct 30, 2009 7:16pm
Quoting atton
Hi. It is my demo account so I am not so worried but it is ... strange .. for me.. I shorted Chf/Jpy today and I put my stop at 89.54 and... I was stopped out ... Any clues why this happened ?
Hey Atton

It looks like it would have been the spread. Since the high is roughly 51, then if the spread was about 3 or more you are going to get kicked out via the ask price. Remember if you sell at the bid you buy back at the ask. So the bid price doesn't have to reach your stop just the ask price.

Best
Mike
  • #47,318
  • Oct 30, 2009 7:57pm Oct 30, 2009 7:57pm
Quoting mbqb11
Hey Atton

It looks like it would have been the spread. Since the high is roughly 51, then if the spread was about 3 or more you are going to get kicked out via the ask price. Remember if you sell at the bid you buy back at the ask. So the bid price doesn't have to reach your stop just the ask price.

Best
Mike
Thanks Mike and yes the spread was 5. Btw I am even happy that this happened on my demo account >> I won't make that mistake again. If I was playing with real money then .. don't know probably I would have needed a new mouse
  • #47,319
  • Oct 30, 2009 8:35pm Oct 30, 2009 8:35pm
does any one do this? plot mtf ma's on the tf they trade on? i was playing around with it.... just plotting 365's from weekly and monthly onto my daily tf.
i tried putting 150's on there but found it got abit messy and perhaps the 150 being less meaningful perhaps..?

this is a good example... i tried it on a few pairs and it definatly seems to interact with price and good ppz levels to add for confluence.

doubt i will using it in trading but just thought it was interesting
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  • #47,320
  • Oct 30, 2009 10:57pm Oct 30, 2009 10:57pm
i do this matt.

another thing to add to your confluence arsenal.



jim

Quoting supermatt
does any one do this? plot mtf ma's on the tf they trade on? i was playing around with it.... just plotting 365's from weekly and monthly onto my daily tf.
i tried putting 150's on there but found it got abit messy and perhaps the 150 being less meaningful perhaps..?

this is a good example... i tried it on a few pairs and it definatly seems to interact with price and good ppz levels to add for confluence.

doubt i will using it in trading but just thought it was interesting
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