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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

  • #31,301
  • May 27, 2009 7:03pm May 27, 2009 7:03pm
Quoting enculée
When you understand this, so long as you have access to order flow...
how does one get access to order flow? or better yet how can one learn to read order flow only from charts? from pa & ppz's i can infer where i think there would most likely be a congregation of buy orders vs. sell orders & vice-a-versa (& pa consolidation vs. a breakout), but other than that how can the retailers know what the order flow is?
  • #31,302
  • May 27, 2009 7:07pm May 27, 2009 7:07pm
Quoting Ryanmcd
It's easy and makes money that's why people don't like it. They need more stuff on the screen so they look smart lol
I don't know. Having lot's of stuff on a chart makes me feel stupid. lol
Bundy's status today: "Waiting..."
  • #31,303
  • May 27, 2009 7:12pm May 27, 2009 7:12pm
Quoting bundyraider
I don't know. Having lot's of stuff on a chart makes me feel stupid. lol

Well use it to show off to your friends. When I see people that I know that trade just as a hobby aka Vegas, I ask them how all that helps make them money and they never can give me a answer
Keep taking CT trades, I need more money
  • #31,304
  • May 27, 2009 7:15pm May 27, 2009 7:15pm
Quoting dkmb92
how does one get access to order flow? or better yet how can one learn to read order flow only from charts? from pa & ppz's i can infer where i think there would most likely be a congregation of buy orders vs. sell orders & vice-a-versa (& pa consolidation vs. a breakout), but other than that how can the retailers know what the order flow is?
If you sit and watch the candle form you'll start to recognise places where price has a tendency to reverse, often resulting in reversal PA on higher TFs. While you're watching the candle you'll begin to recognise when price has run into a bunch of big buy orders, I can do this now, but I have to say it took me a year of watching every candle in my market (DAX) form every day. You may be better than me and learn it quicker, of course.

Remember, breakouts fail the majority of the time, and pin bars are really a failed breakout turned reversal, so when price smashes through a PPZ, hesitates and you begin to see contrarian orders going through just by the way the candle moves then you can jump in, and pyramid as you are proven right or cut if you are wrong.

Everytime prices hits a PPZ with momentum there is likely to be a reversal, if it slowly moves towards it will likely break. In my experience anyway.

If you want access to futures order flow, like I said, you can download the TT demo from alaron futures.
  • #31,305
  • May 27, 2009 7:16pm May 27, 2009 7:16pm
BB+RSI+PA = $$$, too bad I can't trade the long times but I still seez da tradez!!
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr.jpg Size: 78 KB
Keep taking CT trades, I need more money
  • #31,306
  • May 27, 2009 7:39pm May 27, 2009 7:39pm
Quoting Ryanmcd
BB+RSI+PA = $$$, too bad I can't trade the long times but I still seez da tradez!!

Very nice, trend-based PA. Did you get burned on that 4 hr PB today before the selloff? Or did another time frame keep you out?
  • #31,307
  • May 27, 2009 7:42pm May 27, 2009 7:42pm
Quoting Alexandra
Very nice, trend-based PA. Did you get burned on that 4 hr PB today before the selloff? Or did another time frame keep you out?
Not if you waited for the break. Also it's a BUOB.
Indicators show the past. Price Action "Indicates" the future.
  • #31,308
  • May 27, 2009 7:44pm May 27, 2009 7:44pm
I don't trade the 4hr stuff, but a chart is a chart to me, I could post up a 5min and it looks the same unless you got that news spike. Things just happen faster.
Keep taking CT trades, I need more money
  • #31,309
  • Edited 8:11pm May 27, 2009 7:49pm | Edited 8:11pm
Quoting jarroo
Not if you waited for the break. Also it's a BUOB.

Thanks - I was targeting that one at Ryan. Sometimes in my experience those nice running 4-hourly signals as shown on his chart above can get squashed by a large daily based selloff, as we had today. I'm curious if Ryan took that last one based on his method. Good MM makes it okay either way. It's not a criticism or a commentary - just a question to help/warn others. Overall, that type of trading is the superior way in my opinion, though I do it on a much larger TF than he.

Personally I exited a large number of positions across the board this morning on the poor overall PA relative to my trend-based view...am aggressively buying A/D the last few hours though. So far E/D has not yet followed.
  • #31,310
  • Edited 8:05pm May 27, 2009 7:50pm | Edited 8:05pm
Quoting Ryanmcd
I don't trade the 4hr stuff, but a chart is a chart to me, I could post up a 5min and it looks the same unless you got that news spike. Things just happen faster.
Gotcha - a nimble trader. How do you manage your stops? One has the same potential problem on any of the intra-days. MM becomes so important, it would benefit the forum to hear your view on stops relative to your timeframe.
  • #31,311
  • May 27, 2009 8:06pm May 27, 2009 8:06pm
Quoting jarroo
Not if you waited for the break. Also it's a BUOB.

LOL - You know better than to post that!! One Metatrader vendor's PB is another's BUOB on a 4-hour chart!!
  • #31,312
  • May 27, 2009 8:12pm May 27, 2009 8:12pm
Quoting Alexandra
LOL - You know better than to post that!! One Metatrader vendor's PB is another's BUOB on a 4-hour chart!!

I was referring to the same chart and candle, I believe. I may be wrong on that. sorry I can't post charts now.
Indicators show the past. Price Action "Indicates" the future.
  • #31,313
  • May 27, 2009 8:12pm May 27, 2009 8:12pm
Quoting jarroo
I was referring to the same chart and candle, I believe. I may be wrong on that. sorry I can't post charts now.
LOL - Indeed - gotcha - no worries. Just teasing you anyway! You carry too much respect for me to be too harsh!
  • #31,314
  • May 27, 2009 8:47pm May 27, 2009 8:47pm
Quoting jarroo
I understood g_j_.
I often sing this song about mbqb11 (Mike). lolol

http://www.youtube.com/watch?v=b0AGiq9j_Ak

Like i said, g_j_ can never be him, BUT g_j_can be like him.

Everybody loves a winner, (Mike being a very young one at that) & many try to emulate a winner.
  • #31,315
  • May 27, 2009 8:50pm May 27, 2009 8:50pm
Quoting Alexandra
Gotcha - a nimble trader. How do you manage your stops? One has the same potential problem on any of the intra-days. MM becomes so important, it would benefit the forum to hear your view on stops relative to your timeframe.

1:1 or less, I like to run a 15-20 pip stop with a 25 pip gain. Also I goto cost or close it if it's looking bad or I get +15. Today was 1 stopped @ cost 3 winners so it works just have to be on the ball. Time to get off the computer tonight
Keep taking CT trades, I need more money
  • #31,316
  • Edited 9:07pm May 27, 2009 8:57pm | Edited 9:07pm
Quoting Ryanmcd
1:1 or less, I like to run a 15-20 pip stop with a 25 pip gain. Also I goto cost or close it if it's looking bad or I get +15. Today was 1 stopped @ cost 3 winners so it works just have to be on the ball. Time to get off the computer tonight
Excellent. That illustrates the point nicely - no room for hope in this business.
  • #31,317
  • May 27, 2009 9:09pm May 27, 2009 9:09pm
Great posts Ryanmcd, enculee. Thanks a lot.


Hope this is the beginning (re-emergence) of the many postings here from you Ryanmcd. if u prefer to refrain posting lower TF'ed charts here (so as to avoid confusion in newer traders who are learning the higher TFs), i'll just expect them (most of your posts) on the other related thread
  • #31,318
  • May 27, 2009 9:40pm May 27, 2009 9:40pm
still hovering around 1.5950. what's up with that PPZ i mentioned??

meanwhile, cadjpy also hovering & seems undecided still with its direction: downmove via smallish daily PB or, the PB will get invalidated? let's see...
  • #31,319
  • May 27, 2009 9:41pm May 27, 2009 9:41pm
Quoting supremeChaos
Great posts Ryanmcd, enculee. Thanks a lot.


Hope this is the beginning (re-emergence) of the many postings here from you Ryanmcd. if u prefer to refrain posting lower TF'ed charts here (so as to avoid confusion in newer traders who are learning the higher TFs), i'll just expect them (most of your posts) on the other related thread
LOL - Newer traders on higher time frames! Let's be honest - the newbies are almost always on the lower time frames! (For their brief foray that is!). A profitable veteran on low time frames is worth reading on any thread, even if one has a different style.
  • #31,320
  • May 27, 2009 9:56pm May 27, 2009 9:56pm
Just want to get some thought on eur/usd long it stop at support 1.3820 and a BUOB on the weekly.
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