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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

  • #109,021
  • Mar 20, 2012 3:25pm Mar 20, 2012 3:25pm
Quoting PhAnTi'
buy orders have been consumed.... so we might drop pretty fast since there are no buy orders ''left'' in this area
Thank you but i was after a hint as to why there are no buy orders left in this particular move. What is it about these bars or this move that indicates to us that there are no buy orders left and price could drop quickly.... i see there are more answers and a link so i'll investigate those....

cheers
  • #109,022
  • Mar 20, 2012 3:46pm Mar 20, 2012 3:46pm
Quoting mbqb11
Supply and demand is really built into everything you do when you analyze a chart. It's about understanding a situation. Supply is sell demand is buy.
That's all it means. Now its understanding that everything on our chart is just that. Previous buy and sell orders.
This much i'm cool with.

Quoting mbqb11
For example we look for the close of a pinbar to be within the prior bar. THere is a reason for this. It shows who is in control more. Now that doesn't mean any bar that closes within the other bar is a reversal. It's just another thing to gauge the strength or nature of the markets that have been executed(since that is what we see)
Again, i'm happy that closure of bars at significant places gives us confidence to evaluate who is in control/which direction we are going.

Quoting mbqb11
For example people often try to pick bottoms with super tiny pinbars. We explain it as super tiny pinbar vs the trend. And that is enough to get the basics, but you want to then begin to think about why that is the case.
GBPAUD/GBPNZD being great recent examples?... nice little pinbars, actually at bottoms but NOT the reason for the reveral alone (i doubt). There is a story to that.

Quoting mbqb11
When we see a "wick" on a bar don't think reversal, think consumption of orders. Then think what are the strengths of those orders. If you have a weak closing bar, then the path of least resistance becomes where those orders were used up.
Since someone mentioned the SD stuff here after my recent re-acquaintance with trading/this thread, i've studied this and do now think in these terms.

Quoting mbqb11
The one thing is not to be confused, it's built into our chart through support/resistance and understanding PA. As you gain more exposure to charts you will see these "little things" which help pull the basics together better.
I'm still going through my own wrestle for control of some concepts. 1 month ago confusion was quite bullish, now i'm in a sideways market but i sense clarity orders building with each new day and each reply from all the kind people who take the time to help the likes of me.

Quoting mbqb11
Here is a chart with just some of those basics. Again keep it simple you don't need to talk about it in a complicated way just think about things you do logically. This goes for any tool you use in trading. If it doesn't make sense in a simple logical way it's probably useless, or not being used right.

Here was a chart I had open, you can find this on any and old charts. It's simple, and its just another way to understand deeper things about our bars. And how our bars are part of a bigger story. This is when this stuff becomes fun because...
As always, your charts are superb and the time you spend to explain this stuff is very well received.
I really do feel like i'm turning a corner with this stuff.

Rob
  • #109,023
  • Mar 20, 2012 4:01pm Mar 20, 2012 4:01pm
Quoting Pinbar
Hmmmmm

Come on baby!

Hey PB,

I would just like to get your thinking behind these charts.
On my charts AUDJPY has broken the TL.
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  • #109,024
  • Mar 20, 2012 4:55pm Mar 20, 2012 4:55pm
Quoting meshka
I am playing this one at the moment... took some profit already, BE and looking for some retracement to add...
Hello Meshka

Nice1, i missed the initial move, but this is the way i was watching this pair. Different ways to skin a cat, confluences when all of them agree!!!

Best wishes

Hector
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  • #109,025
  • Mar 20, 2012 5:19pm Mar 20, 2012 5:19pm
Quoting Rust
Hi Hector ,
glad someone like my charts

I do drop a timeframe most of the times in order to zoom things . It's visual , but let's say i like it as much as your pattern (or story) is still visible . I mean if you drop a weekly to H4 you go in a different world with all different dynamics Not that it's impossible to trade a confirmation 2 timeframes lower , but it's really visual . I just don't like to distort the overall picture too much .
Here is how i see this one :

Regards
Hello Rust

Of course I like your charts, and i am sure tons of people too. They are like Mikes, those webinars you watch worth your time and effort!!!.

Your way and Mikes are the way i like to see the markets.

I ask about entries on lower tfs because i like to trade on 4Hr, and on daily patterns i look for entries on 4Hr. I think this is wrong because most of the time price come back at the lower tf entry and then it runs.

I understand you use lower tfs for visual, not for entries. Then on daily patterns you look for daily pa entries, on weekly patterns you look for weekly pa entries?

Second, how you know a pattern is invalidated?. Daily eur gbp is still visible or valid, right?

Thank you again

Best wishes

hector
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  • #109,026
  • Mar 20, 2012 5:20pm Mar 20, 2012 5:20pm
Quoting mbqb11
Supply and demand is really built into everything you do when you analyze a chart. It's about understanding a situation. Supply is sell demand is buy. That's all it means. Now its understanding that everything on our chart is just that. Previous buy and sell orders.

For example we look for the close of a pinbar to be within the prior bar. THere is a reason for this. It shows who is in control more. Now that doesn't mean any bar that closes within the other bar is a reversal. It's just another thing to gauge the strength or nature of the...
well explained..... but why is this pinbar actually a pinbar ? ..

because demand overexceeded supply and price was too low, so there were a lot of buy orders executed and price went up again... always keep in mind that this weekly pinbar represents the price movements of 5 days.... 120 hours.... 7200 minutes....

nothing to add tough,
thanks mike
Hero calls followed by margin calls...
  • #109,027
  • Mar 20, 2012 5:33pm Mar 20, 2012 5:33pm
Quoting beebolbod
Thank you but i was after a hint as to why there are no buy orders left in this particular move. What is it about these bars or this move that indicates to us that there are no buy orders left and price could drop quickly.... i see there are more answers and a link so i'll investigate those....

cheers
maybe this clears it up a bit... :

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muahah this bubble aint english... s.th between english and german..... had a loooong day, im sry

Quote
this weeks

to mention one of em ...

drinks are on me next time !
Hero calls followed by margin calls...
  • #109,028
  • Mar 20, 2012 6:03pm Mar 20, 2012 6:03pm
Mike

Hello

The pair gbp/dad has pinbar

Can I trade it

Sorry for my bad English
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  • #109,029
  • Mar 20, 2012 6:05pm Mar 20, 2012 6:05pm
Quoting heebbyjeeby
Hey PB,

I would just like to get your thinking behind these charts.
On my charts AUDJPY has broken the TL.

I believe it will go back up and test this area.
That whole area between the 89.50 and 89.02 is a very strong area where we may see some serious bearish PA if it can not close above, or serious bullish PA if it breaks through and pulls back.
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  • #109,030
  • Mar 20, 2012 6:11pm Mar 20, 2012 6:11pm
I see there is some kind intervention of Supplydemanders on the J16 thread
well I am agreed with Mike's point of view... for me it is just another name of the same thing. Main thing is to learn read chart identify hot zones and trade price action correctly. How You will call it - its up to You: supply.demand, support/resistance, price behavior, etc. Just different brands.
all is eternal - this is good news for people who loves bad news
  • #109,031
  • Mar 20, 2012 6:37pm Mar 20, 2012 6:37pm
Quoting 5.25
Would like to see a pullback and retest of 0.99073 for a possible entry move down.
Not quite how I would have liked it, but the level played out beautifully, to the pip. Once price broke through, a good sized Pinbar confirmed the transition with a possible move long.

Anyone reading whose starting up. Quick decisions need to be made on the lower timeframe, which is why they can be difficult to trade off. Best to stay on the daily and above.
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  • #109,032
  • Mar 20, 2012 8:29pm Mar 20, 2012 8:29pm
Quoting Yehuda Sh
Mike

Hello

The pair gbp/dad has pinbar

Can I trade it

Sorry for my bad English
Hey Yehuda

That's a very weak pinbar. It has a very "fat" body and that market is VERY choppy. We are in major consolidation, so bars like this I consider to lack confluence, structure and space to make it worth it. Be careful in these types of markets they can chew your account up quick

Best
Mike
  • #109,033
  • Mar 20, 2012 10:21pm Mar 20, 2012 10:21pm
Mike,

Did you consider taking this trade ?

Broke BRN 1.45 and multiple bars. But I don't see easily identifiable targets and also the close was weak

Also Trade is going into big bullish bars.

Comments ?
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  • #109,034
  • Mar 20, 2012 10:49pm Mar 20, 2012 10:49pm
Quoting cprao
Mike,

Did you consider taking this trade ?

Broke BRN 1.45 and multiple bars. But I don't see easily identifiable targets and also the close was weak

Also Trade is going into big bullish bars.

Comments ?
Hey C

That is a pretty easy pass for me. Mostly cause just how sideways things are. We would be looking at mostly just a bar at a BRN. i was watching for a breakout from the daily chart but never got a strong enough close

Best
Mike
  • #109,035
  • Mar 20, 2012 11:15pm Mar 20, 2012 11:15pm
Quoting mbqb11
Hey C

That is a pretty easy pass for me. Mostly cause just how sideways things are. We would be looking at mostly just a bar at a BRN. i was watching for a breakout from the daily chart but never got a strong enough close

Best
Mike
Are you talking about this daily pattern ?
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  • #109,036
  • Mar 20, 2012 11:25pm Mar 20, 2012 11:25pm
Quoting cprao
Are you talking about this daily pattern ?
yep bingo C, exactly what I was watching

Best
Mike
  • #109,037
  • Mar 20, 2012 11:26pm Mar 20, 2012 11:26pm
Quoting mbqb11
yep bingo C, exactly what I was watching

Best
Mike
You did not take this trade since the bar close was not above 1.45 convincingly.
  • #109,038
  • Mar 20, 2012 11:29pm Mar 20, 2012 11:29pm
I am trying to figure out a way to get videos to non members without having to use you tube. Any ideas? My open positions for March are now at 3,525 pips not including my closed positions.

I say that for one reason. I havnt done anything that isnt taught here and in the group nor is it anything that any of you cant do.

I will post charts of all my positions tonight or tomorrow.

Jim
  • #109,039
  • Mar 20, 2012 11:31pm Mar 20, 2012 11:31pm
Quoting cprao
You did not take this trade since the bar close was not above 1.45 convincingly.
yep exactly C


Mike
  • #109,040
  • Mar 20, 2012 11:48pm Mar 20, 2012 11:48pm
CHARTS
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