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Bull City Baby! Buying Opportunities

  • #601
  • Dec 11, 2014 3:52am Dec 11, 2014 3:52am
Quoting eliteincome
Harrow Yen Traders Man the Mighty rice eaters Talk about giving the greedy peasants a crash course in money management. We burst back to higher levels would be nice
haiku heaven
  • #602
  • Dec 11, 2014 4:52am Dec 11, 2014 4:52am
Quoting chsortman
{quote} haiku heaven
Hey mate,

You still awake from last night!?

Bulls have pushed through a few levels, but could still fall if retail sales are poor. However could look to test this 119 level and any close above that could really be good for bulls.

Downside this may possibly test 117.44 and 117.24. You went in deep. How is that working out for you? You been taking money off the table?
  • #603
  • Dec 11, 2014 4:59am Dec 11, 2014 4:59am
Quoting Sunsilk
{quote} Hey mate, You still awake from last night!? Bulls have pushed through a few levels, but could still fall if retail sales are poor. However could look to test this 119 level and any close above that could really be good for bulls. Downside this may possibly test 117.44 and 117.24. You went in deep. How is that working out for you? You been taking money off the table?
nope, going in deeper.... I'm counting on a break above 119. I wake up with no help every couple hours and tap the space bar to see where things are.... now it's time to go to work at my 'real' job

Edit: Que the AC DC, cause I"m about 10 pips from being 'back in black'
  • #604
  • Dec 11, 2014 5:06am Dec 11, 2014 5:06am
Quoting chsortman
{quote} nope, going in deeper.... I'm counting on a break above 119. I wake up with no help every couple hours and tap the space bar to see where things are.... now it's time to go to work at my 'real' job Edit: Que the AC DC, cause I"m about 10 pips from being 'back in black'
haha, I know the feeling man, waking up and checking see how many pips it has moved.

It has been 3 days of madness with no let up for bulls.

This has dropped so fast. Markets are so interesting.

When your in the black you gonna close out or keep going? I am thinking the latter right
  • #605
  • Dec 11, 2014 5:10am Dec 11, 2014 5:10am
Quoting Sunsilk
{quote} haha, I know the feeling man, waking up and checking see how many pips it has moved. It has been 3 days of madness with no let up for bulls. This has dropped so fast. Markets are so interesting. When your in the black you gonna close out or keep going? I am thinking the latter right
Close out? If it continues north of where it was, or even approaches it I'll make north of 100k easily.

Stop loss will be at break even though....
  • #606
  • Dec 11, 2014 5:17am Dec 11, 2014 5:17am
Quoting chsortman
{quote} Close out? If it continues north of where it was, or even approaches it I'll make north of 100k easily. Stop loss will be at break even though....
Well you know if you ever feeling charitable, I would be glad to take some off that burden off your hands haha

Jokes aside, let's see what today brings!

When I started on this pair, I refused to go go against any trend, just so I don't get stuck on the other side, missed this short. I still believe that Dollar strength will prevail, just not sure when that will be.

Be good to have Ben awake so he can give us his view.
  • #607
  • Dec 11, 2014 5:20am Dec 11, 2014 5:20am
Quoting Sunsilk
{quote} Well you know if you ever feeling charitable, I would be glad to take some off that burden off your hands haha Jokes aside, let's see what today brings! When I started on this pair, I refused to go go against any trend, just so I don't get stuck on the other side, missed this short. I still believe that Dollar strength will prevail, just not sure when that will be. Be good to have Ben awake so he can give us his view.
If you're in this for real, you shouldn't have any problem making your own dough... or are you on demo?
  • #608
  • Dec 11, 2014 5:24am Dec 11, 2014 5:24am
To be fair to those who want to short, I understand this retrace needed to happen. I actually feel better when I look at the daily now that there's a good black candle in there...
  • #609
  • Dec 11, 2014 5:28am Dec 11, 2014 5:28am
Quoting chsortman
{quote} If you're in this for real, you shouldn't have any problem making your own dough... or are you on demo?
Demo hell no.

Have a 2k account and a 600 pound account. One is long term trades and the other is for doing more to soothe my gambling side.

Been trading for 3 years now. I can't afford to risk that capital though in trades, so everything has to be risk managed (up to 5% on smaller account). I use a journal to make sure that what I am doing makes at least a little bit of sense ha. Re working on that now to make it so that I have to fill in certain criteria before I trade.

Used to trade end of day when I was working but it wasn't all that great so moved over to h1 bars and more intraday whilst I set up my business. I do enjoy these forums though.

How long you been trading for?
  • #610
  • Dec 11, 2014 5:34am Dec 11, 2014 5:34am
Quoting Sunsilk
{quote} Demo hell no. Have a 2k account and a 600 pound account. One is long term trades and the other is for doing more to soothe my gambling side. Been trading for 3 years now. I can't afford to risk that capital though in trades, so everything has to be risk managed (up to 5% on smaller account). I use a journal to make sure that what I am doing makes at least a little bit of sense ha. Re working on that now to make it so that I have to fill in certain criteria before I trade. Used to trade end of day when I was working but it wasn't all that...
I've been watching financial markets for some time (20 years) and read reams of books starting with eliott wave theory... Have not been doing forex for long. I started in November and have made and lost quite a bit. I'm still at break even currently, but I'm convinced this trade will change that. I've let profits slip away before because I view it all as ''paper profits", but now I'm determined to get a good withdraw of my account on this next run.

My biggest problem is just doing what I know I should do. I'm a gambler by nature. Every times I've lost I was going against my instinct. I saw this bounce coming a mile away, but I played right into it. I'm really bad at taking profit out.... I never want to.
  • #611
  • Dec 11, 2014 5:42am Dec 11, 2014 5:42am
Quoting chsortman
{quote} I've been watching financial markets for some time (20 years) and read reams of books starting with eliott wave theory... Have not been doing forex for long. I started in November and have made and lost quite a bit. I'm still at break even currently, but I'm convinced this trade will change that. I've let profits slip away before because I view it all as ''paper profits", but now I'm determined to get a good withdraw of my account on this next run. My biggest problem is just doing what I know I should do. I'm a gambler by nature. Every times...
I noticed you like a bit of a dabble. Yeah I agree the corrective phase was coming. I just thought it would hit 122 first. I was a bit naive in that respect. Only saw it from a bulls perspective and didn't look rationally. But oh well you learn.

Nothing beats experience in the markets. We all lose at some point. Just got to make sure you win more than you lose.

So do you trade elliot wave then?
  • #612
  • Dec 11, 2014 7:01am Dec 11, 2014 7:01am
Quoting Jettala
{quote} Brother i appriciate your confidence and strong muscles and will like to say be calm and cool it will go down to about 116.70 and will bostup to 123. some thing ..only wait for today hope it will reached at this down level today and tomorrow or may be next week we should go for long .. i am also waiting a solid support level like you... we will be able to fulfil our desires soon..Good Luck brother and till then try to play short if u like ... Wait only for 60/70 pips more ...................
In some way, if current price action was indicating different scenario that I see right now, it sounds like a very probable target. However, where do you see indicators that mark it anyhow? Whatever way I look at it, I don't see this level coming. The trend has reached one of its lows, if there was no current reversal (see 4h chart; notice bull candles) I would hope for 116.70, but at the moment I dare to say this is not the way it will head. In my opinion, now it will channel forward bouncing back and forth or will start running up soon. Soon, 30min, USD news coming. Get ready for some action. Unless some grim news shows up, the price should stay out of significant bears. Feel free anyone to challenge my view.
  • #613
  • Dec 11, 2014 7:29am Dec 11, 2014 7:29am
Quoting chsortman
{quote} I've been watching financial markets for some time (20 years) and read reams of books starting with eliott wave theory... Have not been doing forex for long. I started in November and have made and lost quite a bit. I'm still at break even currently, but I'm convinced this trade will change that. I've let profits slip away before because I view it all as ''paper profits", but now I'm determined to get a good withdraw of my account on this next run. My biggest problem is just doing what I know I should do. I'm a gambler by nature. Every times...

Read market wizards. Great read. I can guarantee you will enjoy it.
  • #614
  • Dec 11, 2014 7:30am Dec 11, 2014 7:30am
Reversal so totally held as price cleanly broke out of consolidation, and looks more stable than ever!

We also got the rejection of 118.26 I was waiting for on H1. For everyone who is in draw down - Congrats! You are back in business!

Bull City Baby!!
  • #615
  • Dec 11, 2014 7:30am Dec 11, 2014 7:30am
Quoting Sunsilk
{quote} I noticed you like a bit of a dabble. Yeah I agree the corrective phase was coming. I just thought it would hit 122 first. I was a bit naive in that respect. Only saw it from a bulls perspective and didn't look rationally. But oh well you learn. Nothing beats experience in the markets. We all lose at some point. Just got to make sure you win more than you lose. So do you trade elliot wave then?
No, I take eliott wave into account subconsciously, but I trade pure price action/trends/support and resistance. The problem with wave theory as far as I see it is just how subjective it can be. I see people on the other forum counting motive waves down on this correction which is ridiculous unless it's a reversal.
  • #616
  • Dec 11, 2014 7:32am Dec 11, 2014 7:32am
Quoting benaiah
Reversal so totally held as price cleanly broke out of consolidation, and looks more stable than ever! We also got the rejection of 118.26 I was waiting for on H1. For everyone who is ind draw down - Congrats! You are back in business! Bull City Baby!!

Data looking pretty good no reaction yet. Doubt it could have been priced in at this rate.
  • #617
  • Dec 11, 2014 7:34am Dec 11, 2014 7:34am
Quoting Rizmeister
{quote} Data looking pretty good no reaction yet. Doubt it could have been priced in at this rate.
Looks ready to move...

UP
  • #618
  • Dec 11, 2014 7:36am Dec 11, 2014 7:36am
Quoting benaiah
{quote} Looks ready to move... UP
Institutes/market makers just want to make it hard for us. The move will come.
  • #619
  • Dec 11, 2014 7:37am Dec 11, 2014 7:37am
118.26 is the floor now. Any pull backs to this area should be met with strong buying interest...
  • #620
  • Dec 11, 2014 7:42am Dec 11, 2014 7:42am
Quoting benaiah
118.26 is the floor now. Any pull backs to this area should be met with strong buying interest...


Edit: We should be good once US markets open. Numbers are good.
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