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Bull City Baby! Buying Opportunities

  • #1,001
  • Dec 15, 2014 11:34am Dec 15, 2014 11:34am
Quoting monarch
Oh yea it has, this is very typical prior to a big news release. They want us to follow them into a hole we cannot climb out of, but it's all an exercise now days
  • #1,002
  • Dec 15, 2014 12:08pm Dec 15, 2014 12:08pm
That was brutal.

Hope everyones positions were ok.
  • #1,003
  • Dec 15, 2014 12:16pm Dec 15, 2014 12:16pm
Yes, it was really frightening, but still in the game.
Might be a good chance to buy again.
Free-ranging human living the trading lifestyle
  • #1,004
  • Dec 15, 2014 12:20pm Dec 15, 2014 12:20pm
Quoting Oli1066
When is this going to stop? Hello everyone. I've been following this thread since last Wednesday and made some nice profit since then, but it seems all to be going now. When will we reach the bottom? It looks like it easily cuts through all the supports.
Welcome Oli1066 -
We are in some pretty messy consolidation now. Hard to gauge boundaries. But it looks like we are going up from current level.
  • #1,005
  • Dec 15, 2014 12:24pm Dec 15, 2014 12:24pm
Took about a 4k dollar hit. Recovering now. Was up about 1.1k on day and then euro spiked out of no where.
  • #1,006
  • Dec 15, 2014 12:46pm Dec 15, 2014 12:46pm
Quoting Oli1066
Yes, it was really frightening, but still in the game. Might be a good chance to buy again.
Look where is a day trend, are you trading by been future teller?
  • #1,007
  • Dec 15, 2014 12:57pm Dec 15, 2014 12:57pm
Was holding for 120.69. However, the ride is too bumpy for my taste. Back to trading the range again...

Trade safely!
  • #1,008
  • Dec 15, 2014 1:12pm Dec 15, 2014 1:12pm
Quoting benaiah
{quote} Welcome Oli1066 - We are in some pretty messy consolidation now. Hard to gauge boundaries. But it looks like we are going up from current level.
Your short SL don't work for me. Takes SL and then goes that way where I was. Maybe for Micro gambler, but not 10 Euro for pip. So, you just not talk like it is or you just a gambler and not a trader. My regards, no hard feelings.
  • #1,009
  • Dec 15, 2014 1:36pm Dec 15, 2014 1:36pm
Quoting x58
{quote} Your short SL don't work for me. Takes SL and then goes that way where I was. Maybe for Micro gambler, but not 10 Euro for pip. So, you just not talk like it is or you just a gambler and not a trader. My regards, no hard feelings.
My trading enteries are primarily on 1/5/15 minute charts. If you can't trade these lower time frames, then you will need wider SL most of the time on higher time frames.

"I just not talk like it is" - Not sure what that means, but this thread is not to teach any trading method. Sorry if you got that impression. Interractive trading threads are about trading calls and analysis. You had asked me about my SL placement, and I explained my thoughts on SL placement, but I did not explain whole trading method or strategy.

For example, if you use tight SL or any SL for that matter, how many trades are you willing to lose before you get a winner? Will your winner make up for losses and put you in profit? You have to answer these questions appropriately, and if you can't, then nothing will work, regardless of how tight your SL is or isn't.

If you lose 5 trades and only win 1, can you come out ahead? Only if you have, at least a 1:6 risk/reward. You have to figure all of this out for yourself. But I have no hard feelings, not sure why you would think that.
  • #1,010
  • Dec 15, 2014 1:43pm Dec 15, 2014 1:43pm
Trading is totally subjective to the person.

This thread shouldn't be a place where people copy other people's trading as no one knows if it is right. There is no holy grail in trading.

We all just post up what we see. Sometimes people get it right and sometimes people get it wrong. However good trading is about consistency.

Ben has a strict Risk to Reward system so cannot be a gambler lol.
  • #1,011
  • Dec 15, 2014 1:45pm Dec 15, 2014 1:45pm
Quoting Sunsilk
Trading is totally subjective to the person. This thread shouldn't be a place where people copy other people's trading as no one knows if it is right. There is no holy grail in trading. We all just post up what we see. Sometimes people get it right and sometimes people get it wrong. However good trading is about consistency. Ben has a strict Risk to Reward system so cannot be a gambler lol.
  • #1,012
  • Dec 15, 2014 1:54pm Dec 15, 2014 1:54pm
Looking at UJ now. What do I see now? I don't see the same thing I saw yesterday. Bears slammed it.

Is the trend over? No! But this consolidation is looking really, really, really, messy. It's really impossible to know what this pair will do with the way it looks right now.

However, it is trying to find the bottom of the range. And it doesn't appear that it will make a new low.

The closer it gets to 117.42, the lower the risk is, since SL would be placed a few pips below this on any long entry. But is there any guarantee that price won't go up and just bounce right back down here, and go lower? No, none, nada.

The reversal pattern that occurred a few days ago is still holding. But if price falls below 117.42, it would be invalidated and failed in terms of the broader scope of this trend. I would be looking for buys around this area until it makes a new low, then I'd wait to see if it can paint another bottom. This consolidation may go on for a while.

If you are a trend trader only, now is not the time to trade this pair.
  • #1,013
  • Dec 15, 2014 3:39pm Dec 15, 2014 3:39pm
Fighting its way back up it seems. I'll be looking for an H1 close above 118.916 (horizontal yellow line on chart). This would also be a close above the daily chart 8 EMA (yellow moving average on chart). Needs to get back up there, and STAY up there

Otherwise, I'll probably TP around that area, if it looks like it will bounce back down. Not worried about missing anything. If it gets back above the 8 EMA, there will be plenty of pips to be made as it goes after prior high.

Of course, first it needs to fight it's way back above the daily 20 ema (blue moving average). I may TP around there too, if it looks like it can't get above that. So first need an H1 close above 118.10.

Anybody else trading this? Thoughts?
Attached Image (click to enlarge)
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  • #1,014
  • Dec 15, 2014 3:44pm Dec 15, 2014 3:44pm
I'm still long from the weekend at 118.67. You are right on the consolidation range. I would expect it to go back up to 119 within the next few hours. If it fails to break above that, I will most likely close and see if I can make some pips on the range here. We have aussie data and china data on deck for tonight. China data might bust us out.
Attached Image (click to enlarge)
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Good luck and may the odds be ever in your favor!
  • #1,015
  • Dec 15, 2014 3:45pm Dec 15, 2014 3:45pm
Quoting dbutton1990
I'm still long from the weekend at 118.67. You are right on the consolidation range. I would expect it to go back up to 119 within the next few hours. If it fails to break above that, I will most likely close and see if I can make some pips on the range here. We have aussie data and china data on deck for tonight. China data might bust us out. {image}
It's also important to note that we did not take out the low at 117.42. 80% of the time, the market will test the candlestick formation to see if there is any further interest selling or buying. In this case selling. Looks like the morning star formation was tested and held. I would like to say that we go up from here!
Good luck and may the odds be ever in your favor!
  • #1,016
  • Dec 15, 2014 4:05pm Dec 15, 2014 4:05pm
Here's a big picture view, to show the consolidation and larger channel that could come into play eventually.

Yellow horizontal lines show the inside bar range. The green slanted lines, the possible channel.

NY daily close a few minutes ago and straddled the lower boundary at 117.806. Really, really, really needs to go up from here...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 36 KB
  • #1,017
  • Dec 15, 2014 4:14pm Dec 15, 2014 4:14pm
Quoting dbutton1990
{quote} It's also important to note that we did not take out the low at 117.42. 80% of the time, the market will test the candlestick formation to see if there is any further interest selling or buying. In this case selling. Looks like the morning star formation was tested and held. I would like to say that we go up from here!

  • #1,018
  • Dec 15, 2014 4:25pm Dec 15, 2014 4:25pm
Interesting to see Russia held an emergency meeting and hiked it's rates! Wonder if it will have any affect on the U/J
Good luck and may the odds be ever in your favor!
  • #1,019
  • Dec 15, 2014 9:37pm Dec 15, 2014 9:37pm
Who will be the winner
Attached Image
  • #1,020
  • Dec 15, 2014 9:38pm Dec 15, 2014 9:38pm
Quoting Jettala
Who will be the winner {image}

Who the hell knows...just needs to happen already...getting pretty annoyed. I never get annoyed from the market.
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