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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

  • #106,661
  • Feb 1, 2012 8:54am Feb 1, 2012 8:54am
Ooooo... Itchy Right Hand. Always a good sign. (Talking Money here Guys. Step back lol)
  • #106,662
  • Feb 1, 2012 9:02am Feb 1, 2012 9:02am
Quoting Pinbar
Might want to watch out for this area.
It would be nice if we can get a pitbull on the daily.
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  • #106,663
  • Feb 1, 2012 9:26am Feb 1, 2012 9:26am
Quoting Pokemon
Sorry,can you explain, please. Why its not a pinbar?
referring to the 2nd candle to the right on that chart...
that candle was not protruding.
we want our pinbars to protrude away from bars beside it.

Quoting Pinbar
I want to know how you guys get to be invisible.
Isn't that new cloaking technology? LOL
haha. that's not me, that's Sir Bemac u are pointing at with that arrow.
i think it's pretty old... 2011 technology
it's in the user options in your profile.
  • #106,664
  • Feb 1, 2012 9:27am Feb 1, 2012 9:27am
Quoting supremeChaos
referring to the 2nd candle to the right on that chart...
that candle was not protruding.
we want our pinbars to protrude away from bars beside it.
Also to add to what SC said, notice it has a lower low then the previous bar. we want the open and close within the previous bar as well as the low

Best
Mike
  • #106,665
  • Feb 1, 2012 9:41am Feb 1, 2012 9:41am
Quoting supremeChaos
referring to the 2nd candle to the right on that chart...
that candle was not protruding.
we want our pinbars to protrude away from bars beside it.
Quoting mbqb11
Also to add to what SC said, notice it has a lower low then the previous bar. we want the open and close within the previous bar as well as the low

Best
Mike
Thank you, guys!
  • #106,666
  • Feb 1, 2012 10:14am Feb 1, 2012 10:14am
Wow guys , some really nice "smart money" posts over the last few pages .

I love this thread You rock !
  • #106,667
  • Feb 1, 2012 10:32am Feb 1, 2012 10:32am
Quoting ghous
The bar marked on the chart is what we refer to as a BUOB (bullish outside bar) which is a special bar that exceeds the entire range of at least the most recent bar before it.

At the james16thread it is highly emphasized that we want to see these (and other PA bars) at strong and obvious PPZs and round numbers and other areas that come with some sort of definitive confluence. This is one great way of ensuring that you are aligning yourself with the bigger traders right away because these traders love to be active at key points in the market (swing...
Thanks ghous & Mike.

It used to frustrate me to not understand why price moves the way it does at certain locations. But now it is beginning to make some sense.

e.g. I used to a see a Pinbar or a Outside bar at certain locations and and wondered why it worked and other places it didn't. But confluence of PPZ/round numbers and PA is solid strategy to trade. But i still did not understand why this strategy worked. Now i see.

Is there anyway to put all this nice explanations in a doc or pdf.

I can help in anyway possible. I want to collect and document on smart money and its relation to PA to better my understanding of markets.

Thanks you guys.
  • #106,668
  • Feb 1, 2012 10:51am Feb 1, 2012 10:51am
Hi peeps, havent posted in a while but i see this thread still as popular as it ever was.

Anyway, scanning through some charts i noticed the Daily USDCHF, is creating a BEOB, my final factor in taking this trade is if it closes below the PPZ i have as the red horizontal line price currently sits on, what do you guys think?
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  • #106,669
  • Feb 1, 2012 12:15pm Feb 1, 2012 12:15pm
Posted this in PF but feel it should be shared here also...
----------------
This is Important folks. I Trade & have done for quite some time.
And I Lose. Not Always but you have to let this become a part of your Trader Ego.
Lose/Learn Move on.

I doubt Anyone ever Traded 100% Winners without going to Jail.
B
----------------
Stay Focused & Stay in the game.

B
  • #106,670
  • Feb 1, 2012 12:21pm Feb 1, 2012 12:21pm
Quoting zamfir
Thanks ghous & Mike.

It used to frustrate me to not understand why price moves the way it does at certain locations. But now it is beginning to make some sense.

e.g. I used to a see a Pinbar or a Outside bar at certain locations and and wondered why it worked and other places it didn't. But confluence of PPZ/round numbers and PA is solid strategy to trade. But i still did not understand why this strategy worked. Now i see.

Is there anyway to put all this nice explanations in a doc or pdf.

I can help in anyway possible. I want to collect and...
there's a good reason why you won't see a lot of what I said in my last 2 posts being discussed here. Its really not important.

There have been some great order flow threads here at forexfactory lead by some of the most influential traders that go for hundred's of pages and really only barely scratch the surface of the art of "reading the chart for smart money" or trading order flow as many put it as. Most of this was very technical and easily went over me until I had gone through these threads multiple times and related material on the web. The most amazing thing I discovered at these threads and during my quest for trying to go "behind the bars" was the realization that most of these concepts were already being incorporated here, only that they were made simple and explained in layman terms. Its like having to swallow a pill that cures you just as well as liquid intake will except that it will leave your mouth bitter for hours.

My point being, that as Mike said, for people starting off its always better to stick to the basics of the method and leave the more advanced stuff for later. Chances are once you get good with the basics you may never even want to wander anywhere. This business is not about sniffing at trails of the bigger traders. This business is about making money. No one gives a shit what you do and whether you trade with or against a big hedge fund. Quite honestly you shouldn't either.

Again not to discourage you from wanting to know more about what moves price and why, I just want to make sure you realize two things.

1) It is not a prerequisite to finding success with the james16 material.

2) It is not as simple as reading a post or two. Its a HUGE area that will leave you with tonnes and tonnes of technical jargon to make your way through and then several hundred (thousands maybe) hours of chart time to try and apply all that knowledge.

From my experience james16 material is one very effective way of looking at order flow and trying to be on the right side of certain points in time in the market that we choose very carefully. It helps us attain consistency, and makes money for us - in this business THAT'S EVERYTHING.

g.
I believe . . .
  • #106,671
  • Feb 1, 2012 12:30pm Feb 1, 2012 12:30pm
Quoting ghous
there's a good reason why you won't see a lot of what I said in my last 2 posts being discussed here. Its really not important.

There have been some great order flow threads here at forexfactory lead by some of the most influential traders that go for hundred's of pages and really only barely scratch the surface of the art of "reading the chart for smart money" or trading order flow as many put it as. Most of this was very technical and easily went over me until I had gone through these threads multiple times and related material on the web....
Great post G

I have to add this though. When you learn to read a chart, you are learning the whys of price and you are dissecting order flow. It's just that you don't need fancy lingo or language to do it and you can keep it simple. I was telling a bunch last night how at the end of the day all we are looking at is buying and selling. When you start to dissect, location, bar size, confluence, round numbers, patterns, etc etc, this IS understanding the whys/hows of price it comes with the territory. Otherwise every pinbar/outside bar would be created equal, and they certainly are not.

Follow Ghous advice above and you won't go wrong

Mike
  • #106,672
  • Feb 1, 2012 12:44pm Feb 1, 2012 12:44pm
Quoting mbqb11
Great post G

I have to add this though. When you learn to read a chart, you are learning the whys of price and you are dissecting order flow. It's just that you don't need fancy lingo or language to do it and you can keep it simple. I was telling a bunch last night how at the end of the day all we are looking at is buying and selling. When you start to dissect, location, bar size, confluence, round numbers, patterns, etc etc, this IS understanding the whys/hows of price it comes with the territory. Otherwise every pinbar/outside bar would...
And, If I may;Bars Close at Different Time in Different Markets. Study & Understand Market Movement. I regularly see posts like "If the 4Hr Closes here..." If it Doesn't Close there, does that negate the PA? Of Course not.
Be Involved. Get Inside. You'll feel it & it becomes much easier to listen to.

Proly a throwback cryptic Bemac Statement but I meant well.


B

B
  • #106,673
  • Feb 1, 2012 1:16pm Feb 1, 2012 1:16pm
aud/nzd approaching an interesting area.
1.2800 minor round number, 50% fib, former s/r-zone.
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meine augen sind die sterne
  • #106,674
  • Feb 1, 2012 1:30pm Feb 1, 2012 1:30pm
same goes for usd/try with 1.75 rn, former s/r-zone and ma-confluence.
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meine augen sind die sterne
  • #106,675
  • Feb 1, 2012 1:36pm Feb 1, 2012 1:36pm
Quoting aserbfx
aud/nzd approaching an interesting area.
1.2800 minor round number, 50% fib, former s/r-zone.
Watching this area too although I'm keeping note of the consolidation areas noted and that price won't bounce into another one. If I pull the trigger, it'll be quick, a day or so... but that's just me
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  • #106,676
  • Feb 1, 2012 1:42pm Feb 1, 2012 1:42pm
Quoting Bemac
And, If I may;Bars Close at Different Time in Different Markets. Study & Understand Market Movement. I regularly see posts like "If the 4Hr Closes here..." If it Doesn't Close there, does that negate the PA? Of Course not.
Be Involved. Get Inside. You'll feel it & it becomes much easier to listen to.

Proly a throwback cryptic Bemac Statement but I meant well.


B

B
not cryptic at all B, and as always your insights are invaluable

Best
Mike
  • #106,677
  • Feb 1, 2012 4:15pm Feb 1, 2012 4:15pm
Quoting Rust
Hey dragon man
Interesting views here including liquidity stuff . I assume this is stuff from the other threads from your signature . To be honest it is new to me , so little more details would be easier to understand
Thanks
Yes, this thread is where I finally started learning healthy trading, the others compounded the informations. By the way I only linked 2 other threads because of signature maximum length, in my profile there's really the whole list.
  • #106,678
  • Feb 1, 2012 4:58pm Feb 1, 2012 4:58pm
Quoting zamfir
Thanks ghous & Mike.

It used to frustrate me to not understand why price moves the way it does at certain locations. But now it is beginning to make some sense.

e.g. I used to a see a Pinbar or a Outside bar at certain locations and and wondered why it worked and other places it didn't. But confluence of PPZ/round numbers and PA is solid strategy to trade. But i still did not understand why this strategy worked. Now i see.

Is there anyway to put all this nice explanations in a doc or pdf.

I can help in anyway possible. I want to collect and...
In addition to what the other nice peeps have said, I'd like to tell you this:

From my previous post:

"The patterns are secondary to what price is doing."

Basically James 16 tells you "Pin Bar", "BUOB"... but he's teaching you "market structure".

Behind a market and its motions there's an incredible amount of interactions between many entities (from dealers to retailers), it's very hard to get "why" the market did exactly this and that.

But every market, like a music score, a pentagram, shows his melody.
Threads like this, and posters like those so kind and helpful since years begin with the basic of this music.

A B C notes ... => PB / BUOB / DBHLC...

The next step is to read the knowledge that permeates the posts of those guys, because it will slowly make you aware of the melody that those notes form. After a while (for me it's been more than one year and still ongoing!) you will "see" the melody beyond the notes yourself.
Even if you will still not be able to know what's deeply going on to make those market moves, you'll be able to "sing their tune".

You'll learn about what price is doing, about LOCATION (the same "note" put at different places sounds very different) and finally, where price is going. You'll also learn that you don't need to know about the "smart money". You'll nimbly move like a suckerfish under the big shark's belly and catch whatever food they leave behind, while being protected in your trading by their menacing body.
  • #106,679
  • Feb 1, 2012 5:00pm Feb 1, 2012 5:00pm
Quoting dfumagalli
In addition to what the other nice peeps have said, I'd like to tell you this:

From my previous post:

"The patterns are secondary to what price is doing."

Basically James 16 tells you "Pin Bar", "BUOB"... but he's teaching you "market structure".

Behind a market and its motions there's an incredible amount of interactions between many entities (from dealers to retailers), it's very hard to get "why" the market did exactly this and...
epic post. nothing more to say.
  • #106,680
  • Feb 1, 2012 5:43pm Feb 1, 2012 5:43pm
Quoting mbqb11
Hey Ralph

I don't trade inside bars on anything less then the daily. Their are just too many on the lower timeframes by the nature of the amount of data in one single bar. So for me this would be an easy pass. I also recommend learning to trade these bars especially inside bars on the higher timeframes. I think they are much easier

Best
Mike
Mike,

Can you show us what a daily A+ inside bar should look like?

Thanks!
"Nature's law" is called "Reason". When perfectly understood by human it is
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