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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

  • #138,081
  • Jan 8, 2016 10:05am Jan 8, 2016 10:05am
Quoting NaughtyPip
{quote} Guys is it true? James 16 has institutional volume on its side? Retail makes up about $12 billion a day so I guess you must have some billionaires on your client list.. at least a few billion to impact a 5.3 TRILLION dollar a day market.. This is doing the rounds on twitter folks
Well actually i'll let you know how it really is. Long term FX markets are very liquid. Short term FX markets are not as liquid as you would think. We are not talking about moving the market in the long term.

Actually what this is in refrence to is moving the market AGAINST you

So let me explain the dynamics because it will help you understand the markets better.

If you buy, someone has to sell to you. If you sell someone has to be a buyer

on some pairs especially , yesterday was the usd/nok. it's no where NEAR as liquid as the Eur/usd

When we SOLD, we put a lot in at once which pushed the price HIGHER, which was actually WORSE for the trade. So you are misunderstanding the dynamics

It's actually something as a trader I have to be extra cautious about what pairs/timeframes we are on so we aren't just hurting each other. Yes limit orders can help curb slippage(or you might not get filled) but this order called for a market order which cause the spike, and likewise when we closed for takeprofit all at the same number.

Hope that helps
Mike
  • #138,082
  • Jan 8, 2016 10:18am Jan 8, 2016 10:18am
Quoting Bill618
{quote} Hi Mike, Love your work! Really appreciate you sharing this info with us. I have 4 questions please when you have the time, no rush. 1. What made this a swing high - or more importantly when did you know this was a swing high? 2. What were the divergence indicator(s) used here to confirm divergence prior to trade placement? Regarding my USD/MXN posted chart above... 3. What would make you not trade this BO? 4. Where would you have placed your TP? All silly newb questions i'm sure but i'm still learning. Bill
Thanks for the nice comments Bill it's much appreciated

here is yesterdays trade. I think the explanation will help you. As for your usd/mxn, I don't like to trade breakouts long on a RISING tl, as often that rising TL like that indicates divergence or a lack of momentum and you could be buying into the selling

Ask away any time bill

Inserted Video
  • #138,083
  • Jan 8, 2016 10:23am Jan 8, 2016 10:23am
Quoting Nick1
Hi guys! Happy New Year to all of you. Massive thanks to all this thread and its family. I have a question and need some help. Does anybody look at GBPUSD Daily chart yesterday/today? There is a pretty good (as I think) pinbar. I put a buylimit from yesterday's evening, but now market seems to have its personal view on this pinbar :-) Please, Mike and others, write some words about this set up, your thoughts. I attached the chart. Thank you guys. {image}
Hi Nick.
I took this trade too but I wasn't sure in it, and I was right about my doubts)))
Here are some my thoughts & comments, that I found at PF. Pin closed bearish, instead of bullish, nose is rather small for a reversal signal after strong bearish movemnt before, PB didn't touch BRN below.
I should be more picky in my trades, at least loosing trade was on demo.

Hope that helps)
  • #138,084
  • Jan 8, 2016 10:32am Jan 8, 2016 10:32am
Quoting antisystem
{quote} Hi Nick. I took this trade too but I wasn't sure in it, and I was right about my doubts))) Here are some my thoughts & comments, that I found at PF. Pin closed bearish, instead of bullish, nose is rather small for a reversal signal after strong bearish movemnt before, PB didn't touch BRN below. I should be more picky in my trades, at least loosing trade was on demo. Hope that helps)
Hey A! Thank you for reply, it very helped!

Fortunately this trade was on demo, but still, you say PB didn't touch BRN below.
I actually thought that this IS a straight signal "to come in",
seems not.

Thanks again A.
  • #138,085
  • Jan 8, 2016 12:03pm Jan 8, 2016 12:03pm
Hello everyone,

At the site we will be doing the Where is price going series daily and starting soon alternating London and new York sessions on a 5 minute chart and even 1 minute as a training aid. Look for a couple of posts here every week also. If you are not familiar with this it has helped hundreds if not thousands find success over the last ten years.
You do not need to join to see videos of this method we have many on our guest side. Keep your eye out for weekly posts from yours truly and I will be giving live trades here for free. Are you trading 3 to 5 times a month averaging nice returns or are you trading the usual 5 minute beat down with account size going straight down? You do not have to follow the beat down route.

Jim
www.james16group.com
  • #138,086
  • Jan 8, 2016 1:58pm Jan 8, 2016 1:58pm
Hi,

Started the new year with Successful week.. manually closed all entries and Earned about 60% profit ..

Have a happy weekend frnds..

Adhav
  • #138,087
  • Jan 8, 2016 1:58pm Jan 8, 2016 1:58pm
Quoting Nick1
Hi guys! Happy New Year to all of you. Massive thanks to all this thread and its family. I have a question and need some help. Does anybody look at GBPUSD Daily chart yesterday/today? There is a pretty good (as I think) pinbar. I put a buylimit from yesterday's evening, but now market seems to have its personal view on this pinbar :-) Please, Mike and others, write some words about this set up, your thoughts. I attached the chart. Thank you guys. {image}
Hey Nick

Our buddy kevin texted me about this one yesterday. Here are my exact texts.

The only way i could see to play this would be entering on market close and getting to b/e as soon as it breaks the high. It's fighting a STRONG down move
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Keep at it my friend

Mike
  • #138,088
  • Jan 8, 2016 2:06pm Jan 8, 2016 2:06pm
Quoting Nick1
{quote} Hey A! Thank you for reply, it very helped! Fortunately this trade was on demo, but still, you say PB didn't touch BRN below. I actually thought that this IS a straight signal "to come in", seems not. Thanks again A.
Hi Nick,I agree with Anti and would like to add my view..Before going to against the strong move, wait to price form a complete PIN ( Pin with eyes ) or else wait to cross a FTA (Better).. I also have same experience like you and i learnt from that.Adhav
  • #138,089
  • Jan 8, 2016 2:10pm Jan 8, 2016 2:10pm
Quoting mbqb11
{quote} Hey Nick Our buddy kevin texted me about this one yesterday. Here are my exact texts. The only way i could see to play this would be entering on market close and getting to b/e as soon as it breaks the high. It's fighting a STRONG down move {image} {image} Keep at it my friend Mike
Mike, thank you and Kevin for sharing such personal info.
Very appreciated you guys.

In a few days I will finally get on board with you in a privat forum.
It is a long waited event for me.

Thank you all for your hard work.

Nick
  • #138,090
  • Jan 8, 2016 2:12pm Jan 8, 2016 2:12pm
Quoting Adhavan
{quote} Hi Nick,I agree with Anti and would like to add my view..Before going to against the strong move, wait to price form a complete PIN ( Pin with eyes ) or else wait to cross a FTA (Better).. I also have same experience like you and i learnt from that.Adhav
Hi Adhav.

Thank you for sharing.
For now it seems to complete BEOB for GBPUSD Daily =)

Nick
  • #138,091
  • Jan 8, 2016 2:20pm Jan 8, 2016 2:20pm
Quoting mbqb11
{quote} Hey Nick Our buddy kevin texted me about this one yesterday. Here are my exact texts. The only way i could see to play this would be entering on market close and getting to b/e as soon as it breaks the high. It's fighting a STRONG down move {image} {image} Keep at it my friend Mike
Hey, Mike,

How would you define the "strong down move"? 2010-04-25 to 2010-05-16 was even a stronger down move and it managed to bounce from that level, also in November 2008 and December 2008 there were also pin bars from the same level and all of them played nicely. Or maybe it was a "not so finished yet" AB=CD move?

Also maybe you could comment on why exactly 4575 and not something like 4596-4599 ?
  • #138,092
  • Jan 8, 2016 2:41pm Jan 8, 2016 2:41pm
Quoting Nick1
{quote} Hi Adhav. Thank you for sharing. For now it seems to complete BEOB for GBPUSD Daily =) Nick
Be carefull with BRN ahead & strong daily/weekly/monthly support)
PF really is a great place. See you there soon)

Have a nice weekend!
  • #138,093
  • Jan 8, 2016 2:47pm Jan 8, 2016 2:47pm
Quoting JohnnyHyde
{quote} Hey, Mike, How would you define the "strong down move"? 2010-04-25 to 2010-05-16 was even a stronger down move and it managed to bounce from that level, also in November 2008 and December 2008 there were also pin bars from the same level and all of them played nicely. Or maybe it was a "not so finished yet" AB=CD move? Also maybe you could comment on why exactly 4575 and not something like 4596-4599 ?
Hey Johnny

I probably should have clarified. Kevins comments were on the left he wanted to buy on a deeper retrace. I told him it's best to buy on the close. Because what's likely to happen is the left eye area is likely to hold and at least push us back above the pin high. But at that point it's ANYONEs guess with a situation that has such a strong proceeding bearish move.

For me personally to be convinced to take this one(again I did not was just helping kev play it smarter) I would need a much larger nose that ran through the BRN and also closed more bullish

I hope that helps
Mike
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  • #138,094
  • Jan 8, 2016 2:47pm Jan 8, 2016 2:47pm
Quoting Nick1
{quote} Mike, thank you and Kevin for sharing such personal info. Very appreciated you guys. In a few days I will finally get on board with you in a privat forum. It is a long waited event for me. Thank you all for your hard work. Nick
thanks for the nice comments Nick

  • #138,095
  • Jan 8, 2016 2:48pm Jan 8, 2016 2:48pm
Quoting antisystem
{quote} Be carefull with BRN ahead & strong daily/weekly/monthly support) PF really is a great place. See you there soon) Have a nice weekend!
thank you sir!
  • #138,096
  • Jan 8, 2016 4:31pm Jan 8, 2016 4:31pm
Hi folks. Yeah, I always move the market when I enter a trade. Err, usually it moves in the other direction!

Following on from Jims 'where did price go' tutorials, and fab to hear you say there'll be more free ones posted Jim, here is a trade I was in earlier that I took long, but closed out when I saw it getting bearish. I have attached a chart showing that the H4 BUOVB went to where you would expect it to go before it reversed. Interesting stuff! GB.

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'Fail to plan, plan to fail'
  • #138,097
  • Jan 8, 2016 5:36pm Jan 8, 2016 5:36pm
Quoting mbqb11
{quote} Thanks for the nice comments Bill it's much appreciated here is yesterdays trade. I think the explanation will help you. As for your usd/mxn, I don't like to trade breakouts long on a RISING tl, as often that rising TL like that indicates divergence or a lack of momentum and you could be buying into the selling Ask away any time bill https://youtu.be/o5qVD_80o_c
Thanks man
  • #138,098
  • Jan 8, 2016 6:04pm Jan 8, 2016 6:04pm
Quoting Nick1
{quote} Hi Adhav. Thank you for sharing. For now it seems to complete BEOB for GBPUSD Daily =) Nick
A decent BEOB on the D1 indeed. This could be my chance to get in on this currency.
I think there will be a solid retrace to the lows from early 2015 (blue line) and then head South.
Have a great weekend all.
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  • #138,099
  • Jan 8, 2016 8:16pm Jan 8, 2016 8:16pm
Hi Mike I'm struggling a little with this ,
If your a seller you don't buy anything ,the action could never make price rise ? Only would it rise if there were more buyers
Only way a sellers can make price rise is by closing ,if enough sellers liquidate position (buy back) price will rise ,?




Quoting mbqb11
{quote} Well actually i'll let you know how it really is. Long term FX markets are very liquid. Short term FX markets are not as liquid as you would think. We are not talking about moving the market in the long term. Actually what this is in refrence to is moving the market AGAINST you So let me explain the dynamics because it will help you understand the markets better. If you buy, someone has to sell to you. If you sell someone has to be a buyer on some pairs especially , yesterday was the usd/nok. it's no where NEAR as liquid as the Eur/usd When...
Attached Image (click to enlarge)
Click to Enlarge Name: USD (DFB).png Size: 35 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #138,100
  • Jan 8, 2016 11:52pm Jan 8, 2016 11:52pm
Quoting Guitarbloke
Hi folks. Yeah, I always move the market when I enter a trade. Err, usually it moves in the other direction! Following on from Jims 'where did price go' tutorials, and fab to hear you say there'll be more free ones posted Jim, here is a trade I was in earlier that I took long, but closed out when I saw it getting bearish. I have attached a chart showing that the H4 BUOVB went to where you would expect it to go before it reversed. Interesting stuff! GB. {image}


I don't get it. Do we take any outside bar? Or outside bar with:
1) at swing highs/lows
2) candle body engulfing previous candle?
3) breaking a strong SR or BRN/RN
4) breaking a trend line
5) SME150
6) fibo lines?

I can't see anything apart from outside bars.........
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