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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

  • #109,601
  • Mar 30, 2012 5:03am Mar 30, 2012 5:03am
Quoting duckulapip
Hey beebolbod

thanks for the explaination, i can see better the reasonings behind movement of price

For me personally, i feel if i could see the order flows, perhaps it will give me an idea how strong the movements will be. As you mentioned, its a battle at each zone. If i could see the "calvary" = the pending orders, it will inject fresh movement towards whichever direction the price is going once triggered, and trend followers will add to the mass inertia, hopefully to break through any trouble areas

however, the idea is buyers or sellers...

The PA is the order flow.

That's why Mike likes Big Bars.
  • #109,602
  • Mar 30, 2012 5:09am Mar 30, 2012 5:09am
Quoting Pinbar
The PA is the order flow.

That's why Mike likes Big Bars.
I like that quote .
Few words , a lot said !

Took me years to grasp it.
  • #109,603
  • Mar 30, 2012 5:30am Mar 30, 2012 5:30am
Hey Mike et all.

This is a pin from yesterday on the gbpjpy, its a big bar, but FTA is 80 pips ahead, a big FTA, with a 200 pip SL.

Is this why it was not discussed?
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  • #109,604
  • Mar 30, 2012 5:41am Mar 30, 2012 5:41am
Quoting Rust
I like that quote .
Few words , a lot said !

Took me years to grasp it.

Me too!

Took me years also, I meant.
  • #109,605
  • Edited 6:46am Mar 30, 2012 5:52am | Edited 6:46am
Quoting jarroo
Hey Steve . .The 130.71, is that a higher TF level?

I've been waiting for Price to come down to the 129.50 to show Support from previous Resistance. Bullish PB would be nice.

Price is acting well to Support at the 130.56 Daily LCS level . .that looks interesting. I'll tell ya, these Yen pairs sure like their Highs and Lows ..

Yes, 130.714 is the Monthly LCS of that major Monthly SL.

And the reason I took the H1 PB.
However, I was distracted by a phone call and could not take partial profit or move to BE where I wanted to.
Stuck in it now, till I can get out.

I am thinking with all the wicks below, we are going to test the 150, one more time.
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  • #109,606
  • Mar 30, 2012 7:11am Mar 30, 2012 7:11am
Quoting heebbyjeeby
Hey Mike et all.

This is a pin from yesterday on the gbpjpy, its a big bar, but FTA is 80 pips ahead, a big FTA, with a 200 pip SL.

Is this why it was not discussed?
Hey Heeby

Remember we want pinbars at nice swing low points when starting out. If you look this pinbar is not at a swing point, this puts us in a Box. Yep a lot of boxing talk but that's cause the markets often area. This would mean this pin is sideways and in a very consolidated market.

Notice the boxing effect here, just like gbp/usd chart I posted


It's great stuff James teaches us just remember to follow the basics when starting out. Things like proper swing points for your bars. It will build a good foundation if followed


Best
Mike
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  • #109,607
  • Mar 30, 2012 7:28am Mar 30, 2012 7:28am
Quoting mbqb11
Hey Heeby

Remember we want pinbars at nice swing low points when starting out. If you look this pinbar is not at a swing point, this puts us in a Box. Yep a lot of boxing talk but that's cause the markets often area. This would mean this pin is sideways and in a very consolidated market.

Notice the boxing effect here, just like gbp/usd chart I posted


It's great stuff James teaches us just remember to follow the basics when starting out. Things like proper swing points for your bars. It will build a good foundation if followed


Best
Mike...
Yep, this is true.

It was not at a SL point and the FTA was too damn close.
  • #109,608
  • Mar 30, 2012 7:37am Mar 30, 2012 7:37am
so basically what you are saying is that you would have preferred to see the PB at the 130 level ? if not where?
  • #109,609
  • Mar 30, 2012 7:46am Mar 30, 2012 7:46am
Quoting heaven
so basically what you are saying is that you would have preferred to see the PB at the 130 level ? if not where?
Hey Heaven

This pinbar basically was at the 130. In this case it's most important to understand that this pinbar is not at a swing low but rather in the box and sideways market. Remember we want these at nice clear swing points. For me it didn't matter if this one hit 130 exactly or if it closed strong the story of it being in a box would not change.

Here are examples of pinbars at nice swing points from James
http://www.forexfactory.com/showthre...49#post2752349
http://www.forexfactory.com/showthre...40#post2913840
http://www.forexfactory.com/showthre...41#post2913741
http://www.forexfactory.com/showthre...76#post2891676

check out my space vs traffic video as well if you have not seen that should help solidify the understanding of the swing point factor when starting out.

Again we can trade bars in ANY environment with the right story and conditions but it's crucial to get them the proper way first.

Best
Mike
  • #109,610
  • Mar 30, 2012 7:58am Mar 30, 2012 7:58am
Quoting mbqb11
Hey Heaven

This pinbar basically was at the 130. In this case it's most important to understand that this pinbar is not at a swing low but rather in the box and sideways market. Remember we want these at nice clear swing points. For me it didn't matter if this one hit 130 exactly or if it closed strong the story of it being in a box would not change.

Here are examples of pinbars at nice swing points from James
http://www.forexfactory.com/showthre...49#post2752349
http://www.forexfactory.com/showthre...40#post2913840
http://www.forexfactory.com/showthre...41#post2913741
http://www.forexfactory.com/showthre...76#post2891676

check...

I was trying to get in on that Daily PB via the H1 PB.
Now, I am babysitting it.

Just managed to get out of it with a small profit.
Friday is not a good day for a long like this one.
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  • #109,611
  • Mar 30, 2012 8:00am Mar 30, 2012 8:00am
Quoting Pinbar
I was trying to get in on that Daily PB via the H1 PB.
Now, I am babysitting it.

Just managed to get out of it with a small profit.
Friday is not a good day for a long like this one.
interesting how price got stuck b/w the 150 and 365 like we spoke about previously . Now we know things are consolidated and that helps confirm it up. A nice break could be coming out of that range too but then we have the larger range also

Mike
  • #109,612
  • Edited 8:13am Mar 30, 2012 8:02am | Edited 8:13am
Quoting mbqb11
interesting how price got stuck b/w the 150 and 365 like we spoke about previously . Now we know things are consolidated and that helps confirm it up. A nice break could be coming out of that range too but then we have the larger range also

Mike
Yeah, and it is Friday.

Originally, I was thinking it may make to 132.50 but the lack of momentum was strong even though we were getting large bullish bars with wicks below them.
But as you said, the 150 & 365 were hemming it in, it may break, I am just glad to be free of having to baby sit it.
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  • #109,613
  • Mar 30, 2012 8:03am Mar 30, 2012 8:03am
Hi guys!

There was good buy opportunity on EU. I bought the retrace and tooks 1/2 profits @ the current highs.
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  • #109,614
  • Mar 30, 2012 8:10am Mar 30, 2012 8:10am
thanks Mike!
i have a TL on my chart and price is right between it and the 130 level at the moment. if we brake below this level would it be a trade worth taking or again we have the problem with the big box price is in?
where would the SL be in this case?
thanks again!
  • #109,615
  • Mar 30, 2012 8:15am Mar 30, 2012 8:15am
Quoting heaven
thanks Mike!
i have a TL on my chart and price is right between it and the 130 level at the moment. if we brake below this level would it be a trade worth taking or again we have the problem with the big box price is in?
where would the SL be in this case?
thanks again!
Hey Heaven,

If price breaks under the first box there is a good chance the 130 could act as resistance. Previous support flipping to resistance or a PPZ. Now we don't just blindly buy or sell out of these boxes, so I would be looking for more information. This may be a price bar tip off, or another story that begins to form. Then yes price could then be contained within the previous box.

I am about to post 3 charts. They are all based on the first chart I posted on the gbp/usd a few days back here

Think of the gbp/jpy in a similar fashion at least I will be. There is simply not enough information yet for me to make a decision but I am watching because now I have a lot of information to watch(strong boxing and a BRN as the midpoint).


First gbp/usd chart(posted a few days ago)
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Second(Here is an updated chart with a potential scenario. This does NOT mean
this has to happen. It means we can prepare and understand and react
accordingly if it does. Information is never perfect but when you can spot
this stuff it puts you way ahead of most.)


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Third(Attached is the 3rd and final boxing chart.

Remember these are just possible scenarios. What this tells us is the
gbp/usd is in consolidation mode, and we can see why if we go to the weekly
chart. Also attached)

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and yes i know these charts look intense, but they are very simple that's why I share it
  • #109,616
  • Mar 30, 2012 8:32am Mar 30, 2012 8:32am
The BS would seem to suggest it is now going to test the 50
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  • #109,617
  • Mar 30, 2012 9:07am Mar 30, 2012 9:07am
wow, thanks again Mike! real eye opener!

so now if i see things correctly if we go up should be decided around 133.4 and is we go down around 130 with potential to hit 126. am i catching on or not?
  • #109,618
  • Mar 30, 2012 9:15am Mar 30, 2012 9:15am
Quoting mbqb11
Hey Heaven,

If price breaks under the first box there is a good chance the 130 could act as resistance. Previous support flipping to resistance or a PPZ. Now we don't just blindly buy or sell out of these boxes, so I would be looking for more information. This may be a price bar tip off, or another story that begins to form. Then yes price could then be contained within the previous box.

I am about to post 3 charts. They are all based on the first chart I posted on the gbp/usd a few days back here

Think of the gbp/jpy in a similar fashion...
Even i learn new stuff here, this post is really clear and i thank Mike very much for this, when you shown it like that made it ever so clear and obvious, areas marked on my chart and again thanks for that post, its one of them golden ones, that need to be put on page 1
  • #109,619
  • Mar 30, 2012 9:23am Mar 30, 2012 9:23am
One to watch for next week. EURAUD. Daily Chart. Approaching previous support which nears the 50 fib. Will be watching price action at this level.
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  • #109,620
  • Mar 30, 2012 9:27am Mar 30, 2012 9:27am
Quoting deankenny21
Even i learn new stuff here, this post is really clear and i thank Mike very much for this, when you shown it like that made it ever so clear and obvious, areas marked on my chart and again thanks for that post, its one of them golden ones, that need to be put on page 1
Totally agree with Dean .
Mike is inexhaustible doing wonderful charts on and on and on ! He is a rare gem .

I can proudly say I am profitable , because of him !
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