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raczekfx chart thread

  • #821
  • Edited 1:07pm Jul 30, 2011 8:06am | Edited 1:07pm
Thought I'd make a quite entrance onto this thread. Will be doing my homework not to divert attention from the knowledge that is obviously here. I see some familiar faces from the J16 side... "hi"

I like your style Raczek, I've read many of your posts outside of your thread.

Tomek
  • #822
  • Jul 31, 2011 9:42am Jul 31, 2011 9:42am
Is anyone watching or got any opinions about this one?
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Anything can happen.
  • #823
  • Jul 31, 2011 1:28pm Jul 31, 2011 1:28pm
Quoting ddinnov
Is anyone watching or got any opinions about this one?
yes, with .8550 being long TP and possible reverse.
  • #824
  • Jul 31, 2011 1:36pm Jul 31, 2011 1:36pm
Quoting 5.25
I see some familiar faces from the J16 side... "hi"
No kidding, eh..
From what I see, j16 seem to be a group of folks that develop 'an' edge sooner rather or later, which is a must to survive the onslaught of greedy bankers and irresponsible people we voted for.

Quote
I like your style Raczek, I've read many of your posts outside of your thread
. It's an ongoing battle Mr. Tomek, constantly being adjusted and fine tuned to ever changing market conditions. Having said that, July-August is where it could use some divine help at times...
  • #825
  • Aug 3, 2011 9:05pm Aug 3, 2011 9:05pm
Some say that pins don't work and I won't argue with that statement..
If they don't work, so what do you do ?

You develop a system that will allow you to be in before they happen...
.
I got few PMs from people who will fade this move.. Oh well, Some will never learn..
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  • #826
  • Aug 3, 2011 9:18pm Aug 3, 2011 9:18pm
Quoting raczekfx
..
I got few PMs from people who will fade this move.. Oh well, Some will never learn..

They will also fade Chfs all the way to 1.50...even if they get buried with Frank... and they will.
More on this some other time.. or who really cares... lol
  • #827
  • Aug 3, 2011 9:22pm Aug 3, 2011 9:22pm
Quoting raczekfx
Some say that pins don't work and I won't argue with that statement..
If they don't work, so what do you do ?

You develop a system that will allow you to be in before they happen...
.
I got few PMs from people who will fade this move.. Oh well, Some will never learn..
excellent entry Mark...
Mar 16 low?
  • #828
  • Aug 3, 2011 11:19pm Aug 3, 2011 11:19pm
Quoting denonline
Mar 16 low?
and what else?

p.s. I can't believe some poor souls on FF still fading this... Dudes, learn to recognize bigger footsteps and follow them..
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  • #829
  • Edited 11:53pm Aug 3, 2011 11:40pm | Edited 11:53pm
Quoting raczekfx

p.s. I can't believe some poor souls on FF still fading this... Dudes, learn to recognize bigger footsteps and follow them..
Too bad, so many missed this opportunity.. They never listened to old rac...

All right folks, these are the last charts till Sept. Got to draw another trading plan for my favorite...but need to check again where the largest short interest is, first...lol
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  • #830
  • Aug 4, 2011 11:18pm Aug 4, 2011 11:18pm
Hi Rac, that was NU on your last chart rite? Was it the daily pin that trigger your entry? Was this your first attempt to short NU during this uptrend or did you short it based on daily pin on 07/27 as well? I tried to short NU as I
mention to you last time, but got burnt. So I am really curious about your NU trade because you have nailed it at its peak. Well done my friend.
  • #831
  • Aug 5, 2011 1:28am Aug 5, 2011 1:28am
Quoting esbatu
Hi Rac, that was NU on your last chart rite? Was it the daily pin that trigger your entry? Was this your first attempt to short NU during this uptrend or did you short it based on daily pin on 07/27 as well? I tried to short NU as I
mention to you last time, but got burnt. So I am really curious about your NU trade because you have nailed it at its peak. Well done my friend.
Hey esbatu, I'll take a crack at it.

Let me start with the Daily to explain . . .Price establishes a S/R level at the .8675 on the Daily . . . 2 Bar Highs are a great building point. . .would also explain why that small Daily PB was a lost cause . . .if that PB was bigger it may have had the weight to break through the Support level that was once previous Resistance. You can see that the .8675 was a good entry level short once PBT&CB a few days later. (Daily chart).

On the 4 Hour, I believe Rac saw the type of build of S/R as I just explain on the Daily. . .then PBT&CB on the 4 Hour . .and a short entry was formed.

This is just how I see it, esbatu.

Rac would have to tell you his side of the story to be sure . . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #832
  • Aug 5, 2011 1:57am Aug 5, 2011 1:57am
Quoting esbatu
Hi Rac, that was NU on your last chart rite? Was it the daily pin that trigger your entry? Was this your first attempt to short NU during this uptrend or did you short it based on daily pin on 07/27 as well? I tried to short NU as I
mention to you last time, but got burnt. So I am really curious about your NU trade because you have nailed it at its peak. Well done my friend.
It was actually limit sell order set a week or so ago..
I posted that during this nonfarm week, I expect $ to get much stronger, and nzdusd trade was part of that strategy. (And indeed dollar had a nice boost...)
For your reference I'm attaching screen capture with exact time and date when that trade was executed. Yes it was first short attempt after long -long trade.
If you study past price behaviour during nonfarm week, with some practice you can be right 7-8 times out of 10. There is nothing scary about nonfarm once you get prepared. Some trade PA based on candles, others try to take trading a bit further...

BTW. if you have thousands of people using the same thing, you lose the edge. It's a good idea to organize a trading club or something where serious ideas get brainstormed. Keep it small, serious (not wannabe) and hermetic, and you want believe your progress..
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  • #833
  • Aug 5, 2011 2:15am Aug 5, 2011 2:15am
Quoting esbatu
Hi Rac, that was NU on your last chart rite? Was it the daily pin that trigger your entry? Was this your first attempt to short NU during this uptrend or did you short it based on daily pin on 07/27 as well? I tried to short NU as I
mention to you last time, but got burnt. So I am really curious about your NU trade because you have nailed it at its peak. Well done my friend.

Looks like I got it wrong, esbatu . .oh well . .it was worth a shot . .
Indicators show the past. Price Action "Indicates" the future.
  • #834
  • Aug 9, 2011 1:16am Aug 9, 2011 1:16am
This one is one off, as I can't answer all emails and PMs on the same topic...

Blue line is 'a solid' weekly support, where many folks pulled the trigger long and failed miserably. To be honest blue line is where I closed 90% of the running shorts.
Now back to your questions why after studying 'some FF gurus' material for years (I won't give names) we failed, people asked.
Why weekly support didn't hold?, why, why , why?

Well, let me ask you a question as well...
If you see equities loosing 600ps points two days in the row, what do you do? When you see wealth, that took wall street 6 month to accumulate, evaporate in just 48 trading hours, what do you do?
Do you stick your head out and trying to be a here?

Friends, if trading was as easy as some people told you, don't you think you'd all be rich by now.. ?

You have to have a plan and trade your plan, but you also must use common sense if you want to survive long term.

I have a friend, who's been buying X number of standard lots of usdchf every 100ps, it goes down all the way from 0.80. That's his plan, but it's a long term plan. He 'knows' that currencies are cyclical and with time he'll do much better than all of those wanna be traders and scalpers who jump from system to system. Who cares if it's a good or crazy plan, but it's a plan. We need to have one.

I guess what I'm trying to portray is, that if you just keep taking blind touch trades because of some support and resistance levels and not looking at a bigger picture, an arena where big money and interests are playing their own games, chances of those trades to be successful are minimal.

Anyways, Enjoy the next few days. We're going to make nice profits on wall street. If you bought S&P index in Asia, where 'tape' started to reverse, you will smile all the way ....

Cheers,
r
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  • #835
  • Aug 10, 2011 3:37am Aug 10, 2011 3:37am
Hi rac, sorry for this late comment, just got back at home. I hope I do not being a nuissance to you. But I've been reading your last two posts over and over and over again. And I've got one last question. Which store did you say you've got your crystal ball from? <-- frustrated smile
  • #836
  • Aug 10, 2011 3:45am Aug 10, 2011 3:45am
Quoting jarroo
Looks like I got it wrong, esbatu . .oh well . .it was worth a shot . .
Hi Jarroo, thanks for answering my question. I believe that there are many ways to skin a cat (is that how we say it?). I have been reading your method of PBT&CA and PBT&CB, and I think it's really a good way to pin point support and resistance level. I will study it closely and might shoot you some questions. Thanks
  • #837
  • Aug 10, 2011 1:30pm Aug 10, 2011 1:30pm
Quoting esbatu
... And I've got one last question. Which store did you say you've got your crystal ball from?
My ex neighbor, a retired trader, placed it on garage sale.., before moving back to his beloved Alps in Switzerland.
  • #838
  • Aug 10, 2011 4:31pm Aug 10, 2011 4:31pm
Quoting raczekfx
My ex neighbor, a retired trader, placed it on garage sale.., before moving back to his beloved Alps in Switzerland.
Lets see if mine still works.

A sharp move down through the circle and than a bounce between 140-170 area.
.
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  • #839
  • Aug 10, 2011 6:51pm Aug 10, 2011 6:51pm
Quoting denonline
excellent entry Mark...
Mar 16 low?
wondering if this level is going to finally break...
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  • #840
  • Aug 10, 2011 9:02pm Aug 10, 2011 9:02pm
Quoting nasir.khan
Lets see if mine still works.

A sharp move down through the circle and than a bounce between 140-170 area.
.
long from 6131 with stop already at BE


Quoting denonline
wondering if this level is going to finally break...
It better not as I'm planning to capture at least 100ps overnight...
I'd leaning towards idea that 76.51 was the low for today
no time to post more here atm... cheers
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