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Bull City Baby! Buying Opportunities

  • #1,101
  • Dec 16, 2014 1:56pm Dec 16, 2014 1:56pm
Quoting benaiah
Greetings traders!
Hey! Did you make any pips on the way down, or back up? Have a great day
Good luck and may the odds be ever in your favor!
  • #1,102
  • Dec 16, 2014 2:11pm Dec 16, 2014 2:11pm
Quoting dbutton1990
{quote} Hey! Did you make any pips on the way down, or back up? Have a great day
  • #1,103
  • Dec 16, 2014 2:14pm Dec 16, 2014 2:14pm
Quoting benaiah
{quote}
Good luck and may the odds be ever in your favor!
  • #1,104
  • Dec 16, 2014 2:24pm Dec 16, 2014 2:24pm
Feel like I have been watching this consolidation all my life.

What is your latest update Ben?
  • #1,105
  • Dec 16, 2014 2:30pm Dec 16, 2014 2:30pm
M1 lol

Consolidating like there is no tomorrow.

Break up to the upside?
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  • #1,106
  • Dec 16, 2014 2:33pm Dec 16, 2014 2:33pm
Quoting Sunsilk
M1 lol Consolidating like there is no tomorrow. Break up to the upside? {image}
Trading these past couple weeks, I've picked up on something. When we were in the bearish consolidation, we would have big bear candles and small bull candles, bullish consolidation we have big bull candles, and small bear candles. I haven't tested this yet, but looking at the one minute we have big bull candles and small bear candles. None the less, 5 minutes of bear activity is wiped out with one minute of bull activity.
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Good luck and may the odds be ever in your favor!
  • #1,107
  • Dec 16, 2014 2:33pm Dec 16, 2014 2:33pm
Quoting Sunsilk
M1 lol Consolidating like there is no tomorrow. Break up to the upside? {image}
breakout looming
Good luck and may the odds be ever in your favor!
  • #1,108
  • Dec 16, 2014 2:37pm Dec 16, 2014 2:37pm
Quoting Sunsilk
Feel like I have been watching this consolidation all my life. What is your latest update Ben?
I still see 117.23 as key. Needs to get above and stay above this. If it looks like it can't do that, I'll look for it to find support around 117.06, or 116.77.

116.73 is the monthly pivot, so I'd be really shocked if it fell below that...
  • #1,109
  • Dec 16, 2014 2:37pm Dec 16, 2014 2:37pm
Quoting dbutton1990
{quote} Trading these past couple weeks, I've picked up on something. When we were in the bearish consolidation, we would have big bear candles and small bull candles, bullish consolidation we have big bull candles, and small bear candles. I haven't tested this yet, but looking at the one minute we have big bull candles and small bear candles. None the less, 5 minutes of bear activity is wiped out with one minute of bull activity. {image}
Nice, that is interesting. Let's hope it sticks to the plan.

my brain couldn't even work out a simple pattern at the moment.

Just about holding.
  • #1,110
  • Dec 16, 2014 2:43pm Dec 16, 2014 2:43pm
Quoting dbutton1990
{quote} Trading these past couple weeks, I've picked up on something. When we were in the bearish consolidation, we would have big bear candles and small bull candles, bullish consolidation we have big bull candles, and small bear candles. I haven't tested this yet, but looking at the one minute we have big bull candles and small bear candles. None the less, 5 minutes of bear activity is wiped out with one minute of bull activity. {image}
I knew as soon as I posted this, it would prove me wrong! haha
Good luck and may the odds be ever in your favor!
  • #1,111
  • Dec 16, 2014 2:48pm Dec 16, 2014 2:48pm
Quoting dbutton1990
{quote} I knew as soon as I posted this, it would prove me wrong! haha
Lol I am out anyway.

Will be back later for Asian Sesh.

GL guys and gals
  • #1,112
  • Dec 16, 2014 2:49pm Dec 16, 2014 2:49pm
Quoting dbutton1990
{quote} I knew as soon as I posted this, it would prove me wrong! haha
I don't think you are wrong at all - and an excellent observation! But on smaller time frames, this can go back and forth so much, it can be nerve racking, as there'll be trends in both directions multiple times per day.

What I have learned, is the what you've identified in terms of the candle size, works very good to determine overall direction of price, but not necessarily immediate price direction.

For example, price could move bearishly in consolidation in spite of big bull candles. But as long as bull candles remain more decisive, the bearish move remains counter trend, and the bull trend will eventual resume.
  • #1,113
  • Dec 16, 2014 2:51pm Dec 16, 2014 2:51pm
Quoting benaiah
{quote} I don't think you are wrong at all - and an excellent observation! But on smaller time frames, this can go back and forth so much, it can be nerve racking, as there'll be trends in both directions multiple times per day. What I have learned, is the what you've identified in terms of the candle size, works very good to determine overall direction of price, but not necessarily immediate price direction. For example, price could move bearishly in consolidation in spite of big bull candles. But as long as bull candles remain more decisive, the...
Just broken through support.

I am up for the day anyway so I am happy with that. Will reassess later to see if worth getting in otherwise I will wait till FOMC
  • #1,114
  • Dec 16, 2014 2:51pm Dec 16, 2014 2:51pm
Should bounce around monthly pivot, I would think also daily S1 right below it. Good support level...
  • #1,115
  • Dec 16, 2014 2:53pm Dec 16, 2014 2:53pm
Quoting Sunsilk
{quote} Just broken through support. I am up for the day anyway so I am happy with that. Will reassess later to see if worth getting in otherwise I will wait till FOMC
Excellent to hear a positive day for you!

116.73 is monthly pivot
116.65 daily S1 right below that
  • #1,116
  • Dec 16, 2014 2:55pm Dec 16, 2014 2:55pm
I'm definitely placing my bets on the fact that the FOMC will bring us to 120 again tomorrow. Then we get to prep ourselves for abe and the monetary policy decision Thursday night. That will be an interesting one.
Good luck and may the odds be ever in your favor!
  • #1,117
  • Dec 16, 2014 2:59pm Dec 16, 2014 2:59pm
Quoting benaiah
{quote} Excellent to hear a positive day for you! 116.73 is monthly pivot 116.65 daily S1 right below that
Thanks mate,

Account took a beating lol

Going to probably take rest of day and evening off and recharge for tomorrow.

Have a good one!
  • #1,118
  • Dec 16, 2014 3:03pm Dec 16, 2014 3:03pm
Quoting dbutton1990
{quote} Trading these past couple weeks, I've picked up on something. When we were in the bearish consolidation, we would have big bear candles and small bull candles, bullish consolidation we have big bull candles, and small bear candles. I haven't tested this yet, but looking at the one minute we have big bull candles and small bear candles. None the less, 5 minutes of bear activity is wiped out with one minute of bull activity. {image}
Nice observation
  • #1,119
  • Dec 16, 2014 3:05pm Dec 16, 2014 3:05pm
Quoting Sunsilk
Feel like I have been watching this consolidation all my life. What is your latest update Ben?
Sunsilk you are not alone on that one...... it has been a very long few days...
  • #1,120
  • Dec 16, 2014 3:06pm Dec 16, 2014 3:06pm
Quoting benaiah
Should bounce around monthly pivot, I would think also daily S1 right below it. Good support level...
makes sense to me
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