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Bull City Baby! Buying Opportunities

  • #41
  • Edited 8:35pm Dec 7, 2014 8:21pm | Edited 8:35pm
Kind of like a range as Didgeridoo posted, but also looking like a channel, as it's slowly moving up...

Had a couple of these last week that put me to sleep, as they both lasted 20+ hours. They end up looking like consolidation on higher time frames.

Any touch downs on the lower trend line are good low risk buying opportunities, as long as the channel holds...

Edit: Uploaded a new chart, as I think it shows better the boundaries UJ is trying to establish in the channel...
Attached Image (click to enlarge)
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  • #42
  • Dec 7, 2014 8:45pm Dec 7, 2014 8:45pm
Quoting benaiah
Kind of like a range as Didgeridoo posted, but also looking like a channel, as it's slowly moving up... Had a couple of these last week that put me to sleep, as they both lasted 20+ hours. They end up looking like consolidation on higher time frames. Any touch downs on the lower trend line are good low risk buying opportunities, as long as the channel holds... Edit: Uploaded a new chart, as I think it shows better the boundaries UJ is trying to establish in the channel... {image}
True. It's perhaps more a confined upward channel. Seems to have more support than resistance - at least, atm.
  • #43
  • Dec 7, 2014 8:52pm Dec 7, 2014 8:52pm
Also, I do see the H4 bearish looking pin bar. But I'm not afraid of it yet. Reason is it occurred as part of an inside bar situation. The candle before it was contained within the candle before that.

So, I see the H4 pin bar as an attempt to break out of the inside bar. It could also be viewed bearish in the sense that the H4 pin was a "false breakout". But with the lower time frames still showing bullish bias, I'd need to see further evidence that it's ready to fall more...
  • #44
  • Dec 7, 2014 9:18pm Dec 7, 2014 9:18pm
Quoting benaiah
Also, I do see the H4 bearish looking pin bar. But I'm not afraid of it yet. Reason is it occurred as part of an inside bar situation. The candle before it was contained within the candle before that. So, I see the H4 pin bar as an attempt to break out of the inside bar. It could also be viewed bearish in the sense that the H4 pin was a "false breakout". But with the lower time frames still showing bullish bias, I'd need to see further evidence that it's ready to fall more...
Agreed. I'm (essentially) ignoring that pin bar, and keeping my eye on that ~ 121.3 support.

Friday's news may just continue to drive the pair up immediately.
  • #45
  • Dec 7, 2014 9:18pm Dec 7, 2014 9:18pm
121.553 key level established as support... Good sign, if it can stay above it...
  • #46
  • Dec 7, 2014 9:21pm Dec 7, 2014 9:21pm
Quoting Didgeridoo
{quote} I'm (essentially) ignoring that pin bar, and keeping my eye on that ~ 121.3 support. Friday's news may just continue to drive the pair up immediately.
Agreed

At this point doesn't mean anything. Will be looking for a new high within an 2-3 hours...
  • #47
  • Dec 7, 2014 9:28pm Dec 7, 2014 9:28pm
Needs to stay above the daily/weekly open price 121.553.

I would get a little concerned if it falls back below weekly open, and more concerned if it falls below last week's close 121.42.

Needs to show some decisiveness, and move away from the daily/weekly open/close, as it will set the tone for near term price direction..
  • #48
  • Dec 7, 2014 9:30pm Dec 7, 2014 9:30pm
Well folks, weather looks like we will be spending another week in bull city, and first drinks are on the house!
All posts are my personal opinion
  • #49
  • Dec 7, 2014 9:30pm Dec 7, 2014 9:30pm
Quoting benaiah
Needs to stay above the daily/weekly open price 121.553. I would get a little concerned if it falls back below weekly open, and more concerned if it falls below last week's close 121.42. Needs to show some decisiveness, and move away from the daily/weekly open/close, as it will set the tone for near term price direction..

  • #50
  • Dec 7, 2014 9:30pm Dec 7, 2014 9:30pm
Quoting benaiah
121.553 key level established as support... Good sign, if it can stay above it...
This pair just never ceases to amaze. Freight train.
  • #51
  • Dec 7, 2014 9:30pm Dec 7, 2014 9:30pm
Quoting Didgeridoo
{quote} Agreed. I'm (essentially) ignoring that pin bar, and keeping my eye on that ~ 121.3 support. Friday's news may just continue to drive the pair up immediately.

  • #52
  • Dec 7, 2014 9:35pm Dec 7, 2014 9:35pm
With all this consolidation we're seeing, it should just slice right through 121.69 and attack 121.838 right away. I don't think it'll take more than an hour. We'll see...
  • #53
  • Dec 7, 2014 9:42pm Dec 7, 2014 9:42pm
Quoting benaiah
With all this consolidation we're seeing, it should just slice right through 121.69 and attack 121.838 right away. I don't think it'll take more than an hour. We'll see...
if it will move up to 122 then there will a pull back to 120.3 and again go long ..if it will down from here then to 120.30 it will again hold long .from 120.30
  • #54
  • Dec 7, 2014 10:07pm Dec 7, 2014 10:07pm
hmm... went ahead and TP again as it's falling below daily/weekly open.

Would like to see where it can establish some reliable support before re-entering...
  • #55
  • Dec 7, 2014 10:12pm Dec 7, 2014 10:12pm
Quoting benaiah
hmm... went ahead and TP again as it's falling below daily/weekly open. Would like to see where it can establish some reliable support before re-entering...
Fair enough. I haven't entered for same reason.

And I think many like you who did enter, would also be exiting - given lackluster PA. Which may keep pair subdued temporarily.
  • #56
  • Dec 7, 2014 10:13pm Dec 7, 2014 10:13pm
Entered again at 121.51

Edit: SL is 121.47
  • #57
  • Dec 7, 2014 10:17pm Dec 7, 2014 10:17pm
still bull time baby!!
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All posts are my personal opinion
  • #58
  • Dec 7, 2014 10:18pm Dec 7, 2014 10:18pm
Yes, jumping in and out on the 1/5/15 minute chart. Not recommended.

Hate trading like this, but not comfortable holding, until we get above some S/R levels.
  • #59
  • Dec 7, 2014 10:18pm Dec 7, 2014 10:18pm
Quoting Rtm
still bull time baby!!
  • #60
  • Dec 7, 2014 10:24pm Dec 7, 2014 10:24pm
"Bull" levels I look at...

Attached Image
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