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Bull City Baby! Buying Opportunities

  • #561
  • Dec 10, 2014 8:07pm Dec 10, 2014 8:07pm
Quoting Rizmeister
Where's is our boy Ben at! He must have taken a trade.
I know, that is his thing.

Perfect for him. Next few hours going to be interesting. What time is it in connecticut? 5 hours behind so 9pm?
  • #562
  • Dec 10, 2014 8:07pm Dec 10, 2014 8:07pm
Quoting Rizmeister
Where's is our boy Ben at! He must have taken a trade.
I jumped in deep again. We'll see. It drew down my average at least.
  • #563
  • Dec 10, 2014 8:14pm Dec 10, 2014 8:14pm
Quoting Rizmeister
Where's is our boy Ben at! He must have taken a trade.
coffee break
  • #564
  • Dec 10, 2014 8:18pm Dec 10, 2014 8:18pm
I'm still waiting for a reversal with a stable foundation

Entries now might be okay, but I'm only seeing the bounce so far, not the complete reversal...

And I did say I wasn't going to post my bounce trades...
  • #565
  • Dec 10, 2014 8:22pm Dec 10, 2014 8:22pm
Quoting benaiah
I'm still waiting for a reversal with a stable foundation Entries now might be okay, but I'm only seeing the bounce so far, not the complete reversal... And I did say I wasn't going to post my bounce trades...
What kind of signal are you looking for? A break above a certain point, V shape? Some kind of price action set up?
  • #566
  • Dec 10, 2014 8:27pm Dec 10, 2014 8:27pm
Quoting Sunsilk
{quote} What kind of signal are you looking for? A break above a certain point, V shape? Some kind of price action set up?
Yep, a pattern. Main thing is seeing the price establish support and build a foundation. Just a strong move up, can come down just as fast. But if it establishes support, then it forms a bottom or floor. But it looks a little different every time, and sometimes easy to miss. But usually, I can see it pretty easily on M15 and H1 time frames...
  • #567
  • Dec 10, 2014 8:33pm Dec 10, 2014 8:33pm
Now's a good entry point with SL at 117.89. However, the foundation is still a liittle unstable in my opinion, and I'd still look for possible resistance and retrace...
  • #568
  • Dec 10, 2014 8:36pm Dec 10, 2014 8:36pm
When I look for reversals with solid foundation, the more candles the better, because if more candles it means more consolidation, which means more of a break out when it moves away from the foundation. Right now the move has just started, which is why I'm a little hesitant to call it more than a bounce. But I'm hopeful...
  • #569
  • Dec 10, 2014 8:44pm Dec 10, 2014 8:44pm
Quoting benaiah
When I look for reversals with solid foundation, the more candles the better, because if more candles it means more consolidation, which means more of a break out when it moves away from the foundation. Right now the move has just started, which is why I'm a little hesitant to call it more than a bounce. But I'm hopeful...
Gotcha, yeah I am the same, wait for support or resistance to be tested before looking to break out of a channel.

Wait for some kind of compression and then boom.

Do you trade with a journal?
  • #570
  • Dec 10, 2014 8:45pm Dec 10, 2014 8:45pm
Quoting benaiah
Now's a good entry point with SL at 117.89. However, the foundation is still a liittle unstable in my opinion, and I'd still look for possible resistance and retrace...
i agree
  • #571
  • Dec 10, 2014 8:47pm Dec 10, 2014 8:47pm
Quoting benaiah
When I look for reversals with solid foundation, the more candles the better, because if more candles it means more consolidation, which means more of a break out when it moves away from the foundation. Right now the move has just started, which is why I'm a little hesitant to call it more than a bounce. But I'm hopeful...
Brother....Ben , 116.70 may be place for strong reversal. Possible bounce from here to 123.84 or more then this
  • #572
  • Dec 10, 2014 8:48pm Dec 10, 2014 8:48pm
this looks like an upward bound consolidation to me...
  • #573
  • Dec 10, 2014 8:51pm Dec 10, 2014 8:51pm
Quoting Sunsilk
{quote} Gotcha, yeah I am the same, wait for support or resistance to be tested before looking to break out of a channel. Wait for some kind of compression and then boom. Do you trade with a journal?
What's that? ha ha, just kidding. Not really, except for MT4 journal, and what I post here...
  • #574
  • Dec 10, 2014 8:58pm Dec 10, 2014 8:58pm
Quoting benaiah
Now's a good entry point with SL at 117.89. However, the foundation is still a liittle unstable in my opinion, and I'd still look for possible resistance and retrace...
agreed.
  • #575
  • Dec 10, 2014 9:07pm Dec 10, 2014 9:07pm
Quoting Jettala
{quote} Brother....Ben , 116.70 may be place for strong reversal. Possible bounce from here to 123.84 or more then this
Possibly, but right now, I'd be looking for price to establish reversal pattern, and only worry about lower prices if it fell through.

Right now lower time frames look very bullish. But targets are not as far reaching with say an M5 flag formation. I'd target 118.95 maybe from here, but I'd hope for more of a foundation to form on the way up. And again, there is resistance right above the flag, so it is still a little iffy.

Since, on H1, we just have a couple bullish candles, and that's it. For another run at the high, I'd need to see more of a foundation on H1.

It could go up from here, but just not confident with it yet. One problem with waiting for the foundation, the foundation is part of the move, so that part might not be part of gains. But it's safer. And many times, there are retraces into the foundation that can be used as entry points.
  • #576
  • Dec 10, 2014 9:12pm Dec 10, 2014 9:12pm
Wouldn't long from here. Price was rejected off 118.4 level, seems like more down is still in play. Testing 118 seems to me like it may break. Id hold off on the longs for bit more id target 116.8 as a possible scale in/bounce level.
  • #577
  • Dec 10, 2014 9:35pm Dec 10, 2014 9:35pm
I don't see much of a rejection of anything. I just see price consolidating. Really, it could go either way. But so far it looks bullish to me.

But again, we do not have a solid reversal yet. I'd be more comfortable if I could see a reversal pattern on M30 or H1...
  • #578
  • Dec 10, 2014 9:41pm Dec 10, 2014 9:41pm
Quoting benaiah
I don't see much of a rejection of anything. I just see price consolidating. Really, it could go either way. But so far it looks bullish to me. But again, we do not have a solid reversal yet. I'd be more comfortable if I could see a reversal pattern on M30 or H1...
idk seems like a rejection off the 118.3-4 level to me...we even dipped back under 118. Def seems bearish to me still. Like to see a close above 118.4.
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  • #579
  • Dec 10, 2014 9:49pm Dec 10, 2014 9:49pm
Quoting thegmann
{quote} idk seems like a rejection off the 118.3-4 level to me...we even dipped back under 118. Def seems bearish to me still. Like to see a close above 118.4. {image}
Okay, I think if you read my prior posts on this, you will see that we don't need to go back and forth and split hairs?
  • #580
  • Dec 10, 2014 9:52pm Dec 10, 2014 9:52pm
Quoting benaiah
{quote} Okay, I think if you read my prior posts on this, you will see that we don't need to go back and forth and split hairs?
?
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