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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

  • #109,981
  • Apr 6, 2012 10:59am Apr 6, 2012 10:59am
created some supply/demand charts....
short economics excursus...


bit off topic here but i think it will give you a brief feeling of how supply and demand interact and how price develops if demand and supply change their value.


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of course this works vice versa. In this example price increased two times. If we increase supply price will drop. If we decrease demand price will drop as well.
Hero calls followed by margin calls...
  • #109,982
  • Apr 6, 2012 11:21am Apr 6, 2012 11:21am
Quoting aslam
Thank u Rust for developing that BOX I have always been looking for, how to develop.

Second, may u please add your opinion to answer your question "Where is price going now" on this chart.

thanks once again in advance
Well , as Phanti said the major ones are the top and the middle (do you see the swiveling in the middle ? ) . But there are minor ones all over and you should not be surprised if price reverse at virtually any place .
I am also very much aware of where the highs are , when talking about a box . Here is what i mean :
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Number 1 - highs - equal . This one for me is the better one if you want to play long from the bottom .

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Number 2 - This one i will never play to the inside . Do you see the descending highs . Each one is lower and lower . This to me is the first sign for a breakout and my favorite scenario , couse i play breakouts.

And if you watched Mike's video traffic vs space , here is a good example :
1 - trading the box's bottom to go long -> trading into traffic
2 - trading the box's bottom to go short -> you break out and you are free into space !

Is it possible to make profit trading into the box ? - Yes
Is it harder , than trading outside ? - In my opinion Yes !
  • #109,983
  • Apr 6, 2012 11:26am Apr 6, 2012 11:26am
In the james16 method,
1.how do you guys analyze gaps?
2.how do you interpret them?
3.how do you trade them for intra day in stocks?


Im doing the demo in larger timeframes, and ive been reading the thread but i cant seem to find a thing on gaps. I am just curious on how to trade stocks with this system with gaps all over on smaller than daily TF...

Thx for response.
Icy trader = cold hearted trades. no emotion whatsoever. Below zero.
  • #109,984
  • Apr 6, 2012 11:28am Apr 6, 2012 11:28am
Quoting Icytrader
In the james16 method,
1.how do you guys analyze gaps?
2.how do you interpret them?
3.how do you trade them for intra day in stocks?


Im doing the demo in larger timeframes, and ive been reading the thread but i cant seem to find a thing on gaps. I am just curious on how to trade stocks with this system with gaps all over on smaller than daily TF...

Thx for response.
i dont care abut gaps at all.... but theres one rule in trading :

Every gap will be closed....earlier or later
Hero calls followed by margin calls...
  • #109,985
  • Apr 6, 2012 11:29am Apr 6, 2012 11:29am
Quoting Icytrader
In the james16 method,
1.how do you guys analyze gaps?
2.how do you interpret them?
3.how do you trade them for intra day in stocks?


Im doing the demo in larger timeframes, and ive been reading the thread but i cant seem to find a thing on gaps. I am just curious on how to trade stocks with this system with gaps all over on smaller than daily TF...

Thx for response.
Hey Icy

Gaps are a rarity in FX, and in fact many times they are not really gaps but rather pre-retail action that visually appear as gaps. Gaps tend to close. That doesn't mean right away but often the market wants to close the gap and by doing so retest the orderflow that was created in this area. This is also why gaps can offer areas of S/R. I tend to look at them to fill and will sometimes trade towards the gap. That doesn't mean any old setup but it can often bring confluence back to your setups as well as offer good targets.

Equities are a bit trickier. I tend to not trade equities that gap a lot. Instead I look to smooth that out since they can gap often. I usually dot his by trading weekly/monthly only on most equities. Then you have a "normal" chart.

Of course there are tons of gap strategies like most things, but we can keep it even simpler by doing the above

Best
Mike
  • #109,986
  • Apr 6, 2012 11:33am Apr 6, 2012 11:33am
Quoting PhAnTi'
i dont care abut gaps at all.... but theres one rule in trading :

Every gap will be closed....earlier or later
as James says it's like a window that needs to be closed eventually
  • #109,987
  • Apr 6, 2012 11:37am Apr 6, 2012 11:37am
Quoting mbqb11
as James says it's like a window that needs to be closed eventually
true
Hero calls followed by margin calls...
  • #109,988
  • Apr 6, 2012 11:55am Apr 6, 2012 11:55am
What do you think guys?

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  • #109,989
  • Apr 6, 2012 12:23pm Apr 6, 2012 12:23pm
Quoting Rust
Well , as Phanti said the major ones are the top and the middle (do you see the swiveling in the middle ? ) . But there are minor ones all over and you should not be surprised if price reverse at virtually any place .
I am also very much aware of where the highs are , when talking about a box . Here is what i mean :
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Number 1 - highs - equal . This one for me is the better one if you want to play long from the bottom .

Attachment
Number 2 - This one i will never play to the inside . Do you see the descending...
Your reply was great: Great Rust.
important changes have come to my chart (GBP/JPY) after the US NF news today. I will ask about this on monday. ......
  • #109,990
  • Apr 6, 2012 2:03pm Apr 6, 2012 2:03pm
Quoting PhAnTi'
lets take the current eurusd setup

my opinion on this one is in white font colour below, mark it to compare it with your thoughts

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-
As I got this, this kind of clear supply and demand levels give us an oportunuty to make a touch trade without PA confirmation.
If not up, then down, otherwise sideways :-)
  • #109,991
  • Apr 6, 2012 2:11pm Apr 6, 2012 2:11pm
Quoting Magestic
As I got this, this kind of clear supply and demand levels give us an oportunuty to make a touch trade without PA confirmation.
well actually we always want to have some confirmation of PA, otherwise we dont want to take the trade.

in my experience we do see nearly always reactions at major supply/demand levels.... we only should wait for a good price to get a nice r:r .... thats it.
Hero calls followed by margin calls...
  • #109,992
  • Apr 6, 2012 2:36pm Apr 6, 2012 2:36pm
Quoting trader_dscha
82.5 seems to be a good spot for potential profit taking...
Thank you Mike. Makes sense.
  • #109,993
  • Apr 7, 2012 2:24am Apr 7, 2012 2:24am
Quoting mbqb11
charts and really simple here that's all you need


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Mike would you have went long if the pin bar closed above 85? I was going to take it but didnt becuase it closed below 85. Let me know if i am correct
  • #109,994
  • Apr 7, 2012 6:55am Apr 7, 2012 6:55am
german metro on weekly. i would consider going short below the 26.50 euro.
one of the worst performers in the dax30.
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meine augen sind die sterne
  • #109,995
  • Apr 7, 2012 10:06am Apr 7, 2012 10:06am
Quoting utiq
What do you think guys?

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I'm loving it. That beob of two weeks ago is in play now. Gonna sell and get a wheelbarrow for the pips.
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  • #109,996
  • Apr 7, 2012 10:20am Apr 7, 2012 10:20am
Quoting Bryan
I'm loving it. That beob of two weeks ago is in play now. Gonna sell and get a wheelbarrow for the pips.
Sounds good
  • #109,997
  • Apr 7, 2012 11:15am Apr 7, 2012 11:15am
Quoting Bryan
I'm loving it. That beob of two weeks ago is in play now. Gonna sell and get a wheelbarrow for the pips.
Bryan..
that one looks good. this is my view of the chart with a trend line resisting from top by EMA-150.
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  • #109,998
  • Apr 7, 2012 12:32pm Apr 7, 2012 12:32pm
Quoting PhAnTi'
created some supply/demand charts....
short economics excursus...


bit off topic here but i think it will give you a brief feeling of how supply and demand interact and how price develops if demand and supply change their value.


Attachment

Attachment

Attachment

of course this works vice versa. In this example price increased two times. If we increase supply price will drop. If we decrease demand price will drop as well.
Nice S/D charts there

Happy Easter to all.
  • #109,999
  • Apr 7, 2012 10:08pm Apr 7, 2012 10:08pm
Quoting utiq
What do you think guys?
Sir utiq,
with "break", what we mean is a break of the low or high of the PA setup. in your chart, a break of the BEOB would have price go below the BEOB low (below 81.50 area)
next potential problem area is 80.00 to 81.00 area.
  • #110,000
  • Apr 8, 2012 12:02am Apr 8, 2012 12:02am
Hi everyone, I read somewhere that you should never for any reason let a winner trade become a loser, moving the stop to break-even when its "winning". That sounds like a very smart thing to do, the problem is, when do you consider a trade to be a winner?

Obviously setting the stop after just 10 pips in your favor if you are using daily signals, would be completely pointless. Do you usually define a winner (that is, enough to move the stop to break-even) based on the original stop loss, or based on a certain amount of pips depending on the time frame you are trading, or some other criteria?
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