The reason I think is because 1.6105 is the high of october 2009, when price revisits that high it also completes a so called Quasimodo pattern, which would trigger a sell.

james16 Chart Thread

I view that daily BUOB as a breakout of that consolidation, if price manages to close above 9200 on the daily we might see a follow through of that breakout.

james16 Chart Thread

oil trade — Well also stopped out on my other trade which I posted on another thread yesterday, also trying to preempt a possible break of a daily BUOB. My first attempt via a 4H-PB got invalidated, got a second chance with another 4H-PB, ...

james16 Chart Thread

Bummer, that's why I don't like to trade this pair, price stopped me out on my remaining position for +35, making my total profit 76 pips though.

james16 Chart Thread

Thanx for the quick feedback Jim and for reminding me to look at the weekly TF first for S/R ......... I nearly always forget to look at those higher TF's first

james16 Chart Thread

update C-J trade — My preemptive breakout trade with C-J from yesterday is working out nicely, I entered on the 30m-TF via a 30m-BUOB. Price broke RNB @ 8600 which should act as support now. Ive already closed 1/2 of my position at FTA @ 8590 ...

james16 Chart Thread

I just took a longshot @ your PB on a demo (I don't like this choppy pair), entry on a 2 bar compounded PB, refined entry on the 30m-TF, a preemptive type of breakout trade of that PB .........

james16 Chart Thread

Oil trade — Nothing much going on at the currencies, oil has a nice setup, still waiting to get in long at a discount price of that 1H-BUOB. That 1H-BUOB is backed up by a 4H-PB, a daily BUOB and weekly BUOB.........

My path to financial freedom

Hey LJ, Could you please expand on that a little bit more, thanx very much for your effort in advance.

My path to financial freedom

What the James thread provides you with is a trading tool among many other trading tools out there, that enables you to trade FOREX and whatever equity you want (stocks, commodities, options, bonds etc........), but becoming succesfull or not (ie. ...

james16 Chart Thread

Hey Aserbfx, What are the costs involved in trading stocks directly and not via a derivative ? Is it some percentage of the volume of your order, is comparable with the spread you pay when trading Forex ?

james16 Chart Thread

Thanx J, you give me to much credit, I had and still have a great teacher from whom I've learned so much

james16 Chart Thread

Hey Lallous, The more bars engulfed also means the more bar Highs/Lows engulfed and also the more previous resistance/support levels engulfed and if the engulfing bar also closes above/below the high/low of the engulfed bar with the highest ...

james16 Chart Thread

Hey Autum, To answer that question you'll have to zoom in a bit more to see what path price has travelled after that small daily (not so pretty BTW) PB closed. As you see price didn't go anywhere during the asian session, at the Frankfurt opening ...

james16 Chart Thread

closed Gold daytrade — Well it did act as resistance ........ closed my daytrade @ next floorpivot @ S2. Observe how these floorpivot points are respected as S/R, I love them and use them quite often as my intraday targets.

james16 Chart Thread

for me the James thread was and still is an eye opener regarding my view and feelings about trading Forex, hope you'll succeed in your plan my friend.

james16 Chart Thread

Hey we've 100 traders watching this thread at the moment

james16 Chart Thread

Thanx the Stars ?? Which stars ? Aha, them starts that made you ........ you still crack me up by that remark about them stars

james16 Chart Thread

Stopped out on my oil trade @ 9055. Momentum of the uptrend dissipated when oil wasn't able to make a new high but instead made a double top @ an important pricelvl. Entered short @ pullback of broken up-TL via 4H-PB.

james16 Chart Thread

Thanx for the GOLDEN hint Wiz , that daily BEOB also triggered a so called Quasimodo-pattern. Sell trigger on the 1H-TF via a BEOB, further refining my entry (for a low risk entry), via 10m-BEOB to preempt the break of that 1H-BEOB. We've a daily ...

james16 Chart Thread