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Bull City Baby! Buying Opportunities

  • #661
  • Dec 11, 2014 11:36am Dec 11, 2014 11:36am
Quoting Rizmeister
lol...Guys we have just moved up 200 pips....its a bullish consolidation...IN MY OPINION..after a pretty good retracement.
agreed. So totally bullish, the bull horns are punching holes through my computer screen right now

However, we will see some retrace I think. I went ahead and TP. If it shows support I jump back in. The blue areas are where I'll be looking.

It tried to break out of the channel it's been moving in and failed, so it might touch down on bottom trend line, or near it. But again, just looking to where it will find support, and I"m back in...

Edit: looks like it is trying to hold current level, but since it fell back inside channel, I decided to wait and watch to see what it does...
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  • #662
  • Dec 11, 2014 11:39am Dec 11, 2014 11:39am
Quoting benaiah
{quote} agreed. So totally bullish, the bull horns are punching holes through my computer screen right now However, we will see some retrace I think. I went ahead and TP. If it shows support I jump back in. The blue areas are where I'll be looking. It tried to break out of the channel it's been moving in and failed, so it might touch down on bottom trend line, or near it. But again, just looking to where it will find support, and I"m back in... {image}

  • #663
  • Dec 11, 2014 11:41am Dec 11, 2014 11:41am
On my H1 chart we have pushed through the 200 EMA. (GMT Charts, not NY Closing - thanks Ben)

and it is sitting on top of of that now.

Will be hard to break through that and should provide decent support.
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  • #664
  • Dec 11, 2014 11:42am Dec 11, 2014 11:42am
Quoting Sunsilk
On my H1 chart we have pushed through the 200 EMA. (GMT Charts, not NY Closing - thanks Ben) and it is sitting on top of of that now. Will be hard to break through that and should provide decent support. {image}

Gold is recovering a little. I do agree that this level will provide some support. Lets see how it plays out.
  • #665
  • Dec 11, 2014 11:45am Dec 11, 2014 11:45am
I have a pending buy at 119.65 so that if we break out of this consolidation I'll be taken in. I usually will place limit orders 15 pips above consolidation, just incase of a false breakout. Let's see how this pans out!
Good luck and may the odds be ever in your favor!
  • #666
  • Dec 11, 2014 12:12pm Dec 11, 2014 12:12pm
Quoting Sunsilk
On my H1 chart we have pushed through the 200 EMA. (GMT Charts, not NY Closing - thanks Ben) and it is sitting on top of of that now. Will be hard to break through that and should provide decent support. {image}
For H1, should be the same for all of us, just H4 and higher that look different. But I'm kinda glad to see someone with GMT time, as when things look weird in one chart, sometimes they make sense in the other...
  • #667
  • Dec 11, 2014 12:15pm Dec 11, 2014 12:15pm
Quoting benaiah
{quote} agreed. So totally bullish, the bull horns are punching holes through my computer screen right now However, we will see some retrace I think. I went ahead and TP. If it shows support I jump back in. The blue areas are where I'll be looking. It tried to break out of the channel it's been moving in and failed, so it might touch down on bottom trend line, or near it. But again, just looking to where it will find support, and I"m back in... Edit: looks like it is trying to hold current level, but since it fell back inside channel,...
I also wanted to point out that price is trading below the NY daily close 8 EMA. It hasn't got near it yet on this run up, and closest it got was about 30 pips. I absolutely believe we are going up. But there might need to be a slight retrace, or consolidation or both for a while to get through that level. And we definitely need to see a NY daily close above it for good uptrend resumption confirmation...
  • #668
  • Dec 11, 2014 12:20pm Dec 11, 2014 12:20pm
Gidday Yen

Real traders always sleep with one eye open

What happen thinking, 116

set my shorts to low

Yen bus full load 118+

please excuse me, while I go an give myself

a good kick up the ass for being a dip shit
  • #669
  • Dec 11, 2014 12:21pm Dec 11, 2014 12:21pm
I feel a breakout looming!!
Good luck and may the odds be ever in your favor!
  • #670
  • Dec 11, 2014 12:25pm Dec 11, 2014 12:25pm
Quoting dbutton1990
I feel a breakout looming!!
I think need to wait and not to entry to trade
  • #671
  • Dec 11, 2014 12:37pm Dec 11, 2014 12:37pm
Quoting dbutton1990
I feel a breakout looming!!
I'm back in. Kind of annoyed with myself because I missed a key part of the 8 ema on the daily. I thought I was looking at 8 EMA but it was smoothed or something.

If I would have realize that this thing was consolidating ABOVE the 8 ema on the daily, I never would have TP and just stayed in. Oh well. Missed few pips is all...
  • #672
  • Dec 11, 2014 12:46pm Dec 11, 2014 12:46pm
Quoting benaiah
{quote} I'm back in. Kind of annoyed with myself because I missed a key part of the 8 ema on the daily. I thought I was looking at 8 EMA but it was smoothed or something. If I would have realize that this thing was consolidating ABOVE the 8 ema on the daily, I never would have TP and just stayed in. Oh well. Missed few pips is all...
Yeah i hear ya. I tpd too. With everything that has happened over the past two days, i would rather lock in profit than not!
Good luck and may the odds be ever in your favor!
  • #673
  • Dec 11, 2014 12:51pm Dec 11, 2014 12:51pm
Maybe this isn't the thread for this, but how many of you pyramid your trades? I trade right at the limit of my margin and every opportunity on a clear runner (like this one) I buy and re-adjust my stop below the last support. Thoughts?
  • #674
  • Dec 11, 2014 12:52pm Dec 11, 2014 12:52pm
Quoting chsortman
Maybe this isn't the thread for this, but how many of you pyramid your trades? I trade right at the limit of my margin and every opportunity on a clear runner (like this one) I buy and re-adjust my stop below the last support. Thoughts?
I like to call this millipeding. Building your trade with very to little no room of margin. Can be quite profitable. (At the end you end up with like 3x the amount of open positions; risky but I have done it)

Edit: Remember when it falls....you will lose faster though


Edit 2: We are all bulls in here no worries buddy, as long as its not selling topics!!
  • #675
  • Dec 11, 2014 12:54pm Dec 11, 2014 12:54pm
Quoting chsortman
Maybe this isn't the thread for this, but how many of you pyramid your trades? I trade right at the limit of my margin and every opportunity on a clear runner (like this one) I buy and re-adjust my stop below the last support. Thoughts?
Yes, I'm always looking to maximize my leverage. Good strategy, as long keep SL at break even...

Edit: better yet, to keep some profit, and move SL to better than break even as it moves up...
Edit2: But what I usually end up doing is jumping completely out, and going back in on a pull back. I hate seeing profits disappear on retraces, and would rather miss a few pips (with banked profit) and jump back in when I see support found...
  • #676
  • Dec 11, 2014 12:55pm Dec 11, 2014 12:55pm
Quoting chsortman
Maybe this isn't the thread for this, but how many of you pyramid your trades? I trade right at the limit of my margin and every opportunity on a clear runner (like this one) I buy and re-adjust my stop below the last support. Thoughts?
I do this quite often, a very good strategy!
Good luck and may the odds be ever in your favor!
  • #677
  • Dec 11, 2014 12:59pm Dec 11, 2014 12:59pm
Quoting benaiah
{quote} Yes, I'm always looking to maximize my leverage. Good strategy, as long keep SL at break even... Edit: better yet, to keep some profit, and move SL to better than break even as it moves up... Edit2: But what I usually end up doing is jumping completely out, and going back in on a pull back. I hate seeing profits disappear on retraces, and would rather miss a few pips (with banked profit) and jump back in when I see support found...
I like that
  • #678
  • Dec 11, 2014 1:02pm Dec 11, 2014 1:02pm
Quoting benaiah
{quote} Yes, I'm always looking to maximize my leverage. Good strategy, as long keep SL at break even... Edit: better yet, to keep some profit, and move SL to better than break even as it moves up... Edit2: But what I usually end up doing is jumping completely out, and going back in on a pull back. I hate seeing profits disappear on retraces, and would rather miss a few pips (with banked profit) and jump back in when I see support found...
That's why I've moved my stop up manually below last support so that the only trades going negative are a few of my recent smaller additions. I tend to do 50k at a time... right now I'm up to 2.5M I've been as high as 5M before... which is like 500$ a pip. That racks up quick!
  • #679
  • Dec 11, 2014 1:04pm Dec 11, 2014 1:04pm
Lets see if we can build a new support at 119.45
Good luck and may the odds be ever in your favor!
  • #680
  • Dec 11, 2014 1:06pm Dec 11, 2014 1:06pm
Quoting chsortman
{quote} That's why I've moved my stop up manually below last support so that the only trades going negative are a few of my recent smaller additions. I tend to do 50k at a time... right now I'm up to 2.5M I've been as high as 5M before... which is like 500$ a pip. That racks up quick!

I don't trade much higher than 1million/10 lots

Edit: It does add up nicely but also can go bye bye really fast.
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