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Bull City Baby! Buying Opportunities

  • #941
  • Dec 14, 2014 4:31pm Dec 14, 2014 4:31pm
Geppy has a nice gap as well, but a gap close trade looks too good to be true. Probably best just to go to bed and look for fresh entries tomorrow.
Fix up, trade sharp ...
  • #942
  • Dec 14, 2014 4:38pm Dec 14, 2014 4:38pm
Quoting Hickson
Geppy has a nice gap as well, but a gap close trade looks too good to be true. Probably best just to go to bed and look for fresh entries tomorrow.
I agree, seems like not much buying interest right now, but a nice little retrace close to the 20 EMA on daily. I bought at 118.21, but with tight SL, only a few pips. This is a level, where I'd probably try a few times to buy in and see if it takes off. But if it drops below the 20 EMA, I'll probably wait for a solid signal before I buy again...

Edit: will also look to TP at around the 119ish area. Doesn't seem ready to break out yet, as more consolidation to play out...
  • #943
  • Dec 14, 2014 5:03pm Dec 14, 2014 5:03pm
Actually did almost touch the 20 ema, came within 2 pips. Strong buying interest around there, as I suspected. Let's see if it can head back up to the 8 ema...
  • #944
  • Dec 14, 2014 5:11pm Dec 14, 2014 5:11pm
Safest way to trade right now is the range. I've posted my opinion above on which way I think it will break. However, I am only trading the range right now, until it shows which way it will break, i.e. above 8 EMA or below 20 EMA (daily chart). So, my TP is at or around the 8 EMA for now...
  • #945
  • Dec 14, 2014 5:40pm Dec 14, 2014 5:40pm
Bought at 117.85, SL 117.75. TP is open, but I hope at least up to 119ish area...
  • #946
  • Dec 14, 2014 5:42pm Dec 14, 2014 5:42pm
how you doing buddy?

Quoting benaiah
Bought at 117.85, SL 117.75. TP is open, but I hope at least up to 119ish area...
  • #947
  • Dec 14, 2014 5:44pm Dec 14, 2014 5:44pm
Quoting Rizmeister
how you doing buddy? {quote}
Hey Riz, welcome. Just trying to find the bottom of this little UJ dump
  • #948
  • Dec 14, 2014 5:48pm Dec 14, 2014 5:48pm
Yeah I'm drawing down a bit. Looks to be bottoming. Target premarket high. 119.x

Edit: remember these thin markets are tough.
  • #949
  • Dec 14, 2014 6:46pm Dec 14, 2014 6:46pm
Quoting Rizmeister
Yeah I'm drawing down a bit. Looks to be bottoming. Target premarket high. 119.x Edit: remember these thin markets are tough.
Okay. Took another look at how this thing is moving. I'm targeting 120.69 as my TP. I'm sure it will be a bumpy ride. But this is a 1:28 risk/reward. So, I think I'll just sit back and wait for it. If I get stopped out, I'll just try again. I can afford 28 misses and still break even, since my SL is only 10 pips, and profit target is 284 pips. Plus if if I get a lower entry, it only increases my reward and R:R.

But I don't think it will take that many more tries. And the only way I'd stop trying is if a new low is made (below 117.428). Let's see what happens. Hope it doesn't take the whole week. But if it does, I think it's worth it
  • #950
  • Dec 14, 2014 6:49pm Dec 14, 2014 6:49pm
Quoting benaiah
{quote} Hey Riz, welcome. Just trying to find the bottom of this little UJ dump
LOL know the feeling. Interested to know which way this breaks out.
  • #951
  • Dec 14, 2014 6:55pm Dec 14, 2014 6:55pm
Quoting Sunsilk
{quote} LOL know the feeling. Interested to know which way this breaks out.
We are so totally going to hit 120.69 by the end of the week
  • #952
  • Dec 14, 2014 6:55pm Dec 14, 2014 6:55pm
Quoting benaiah
{quote} We are so totally going to hit 120.69 by the end of the week

<3
  • #953
  • Dec 14, 2014 7:14pm Dec 14, 2014 7:14pm
Quoting benaiah
Bought at 117.85, SL 117.75. TP is open, but I hope at least up to 119ish area...
Moving SL to break even-ish right above 117.85 - target 120.69.
  • #954
  • Dec 14, 2014 7:19pm Dec 14, 2014 7:19pm
Quoting benaiah
{quote} Moving SL to break even-ish right above 117.85 - target 120.69.
I was just messaging Sun how it was most likely going to break north...four minutes later breaks north hard.
  • #955
  • Dec 14, 2014 7:21pm Dec 14, 2014 7:21pm
Quoting Rizmeister
{quote} I was just messaging Sun how it was most likely going to break north...four minutes later breaks north hard.
Nice one for that Riz ha.

I'm off to bed. 1.20 here.

See you all tomorrow and GL
  • #956
  • Dec 14, 2014 7:22pm Dec 14, 2014 7:22pm
Quoting Sunsilk
{quote} Nice one for that Riz ha. I'm off to bed. 1.20 here. See you all tomorrow and GL

Goodnight buddy. I added you on skype.
  • #957
  • Dec 14, 2014 7:37pm Dec 14, 2014 7:37pm
If we can break through 119.07 that will be lovely guys!
  • #958
  • Dec 14, 2014 7:46pm Dec 14, 2014 7:46pm
Quoting Rizmeister
If we can break through 119.07 that will be lovely guys!
Price does not even see 119.07. From here it is looking to take out 119.55, then pull back a bit, then to 120.69
  • #959
  • Dec 14, 2014 7:47pm Dec 14, 2014 7:47pm
Quoting benaiah
{quote} Price does not even see 119.07. From here it is looking to take out 119.55, then pull back a bit, then to 120.69

Lets "hope". This is still a slight resistance point. If we can carve through it then I agree.

Edit: At this point in time its just not about the usd/jpy.. You have to look at other carries and eur/usd. Eur bounced off pivot....eur/jpy has a good amount of resistance above.
  • #960
  • Dec 14, 2014 7:54pm Dec 14, 2014 7:54pm
Quoting Rizmeister
{quote} Lets "hope". This is still a slight resistance point. If we can carve through it then I agree.
Obviously, you are right. I'm just trying to be confident in my target, and not TP. I'm up 100 pips, so it's hard not to close out (at 88+ pips as of the time of this post).

And, this is the 8 EMA area I've posted about so much. If it doesn't clear this, then back into the range to find support somewhere...

Price has not broken out yet, as it is still trapped between the 8/20 EMAs. However, I remain confident, because this is a much stronger move than the last time it tried to get above 8 EMA. But probably good if it takes a breather. Maybe some consolidation to gather momentum for the breakout...

We'll see soon...
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