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Bull City Baby! Buying Opportunities

  • #1,301
  • Dec 18, 2014 9:09am Dec 18, 2014 9:09am
back in long
Good luck and may the odds be ever in your favor!
  • #1,302
  • Dec 18, 2014 9:23am Dec 18, 2014 9:23am
Quoting dbutton1990
back in long
Rising Wedge 5m

Bearish?
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  • #1,303
  • Dec 18, 2014 9:38am Dec 18, 2014 9:38am
Quoting Sunsilk
{quote} Rising Wedge 5m Bearish? {image}
This is what I see. Bullish breakout
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Good luck and may the odds be ever in your favor!
  • #1,304
  • Dec 18, 2014 9:41am Dec 18, 2014 9:41am
119.50 needs to be cleared...otherwise we are just testing the evening star on the 1 hour
Good luck and may the odds be ever in your favor!
  • #1,305
  • Dec 18, 2014 10:05am Dec 18, 2014 10:05am
Stall at 119..sto 5M going down, sto 15M overbought.. wishing heavy downfall again to 118.3 and below...
  • #1,306
  • Dec 18, 2014 10:16am Dec 18, 2014 10:16am
classic s/r analysis showing bulls fully in control! traders latching onto fed like usual for any little thing they can take to buy up. classic christmas rally!
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All posts are my personal opinion
  • #1,307
  • Dec 18, 2014 10:17am Dec 18, 2014 10:17am
Headed to 120
  • #1,308
  • Dec 18, 2014 10:18am Dec 18, 2014 10:18am
Quoting Rtm
classic s/r analysis showing bulls fully in control! traders latching onto fed like usual for any little thing they can take to buy up. classic christmas rally! {image}
  • #1,309
  • Dec 18, 2014 10:26am Dec 18, 2014 10:26am
RTM - I believe you are right on. There might be some volatility, but this thing is clearly moving up. I posted charts on the daily chart last night showing the trend has resumed. I no longer see it trapped in consolidation again, in terms of the overall picture. I think we are back to Bull City Baby!

The way to trade this pair now - If it is consolidating and moving down, or if it is breaking resistance, same plan - Look for it to find support and jump in long.

Right now it is clearly targeting 120. Every time there is a strong move up, it create a "pole" for a pennant or flag. Then it breaks out again. Each time it breaks out, the target is calculated by measuring the last move from breakout. The only way the next upward move is invalidated is if it breaks the bottom of the pole. As long as it stays in the range of the pole, it is Bull City Baby!!
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  • #1,310
  • Dec 18, 2014 10:35am Dec 18, 2014 10:35am
Same principle can be applied for longer term view, targeting 133-134.
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  • #1,311
  • Dec 18, 2014 10:43am Dec 18, 2014 10:43am
Back to shorter term, looking for it to find support above 118.96 to confirm the next upward move (target 120) is still intact...
  • #1,312
  • Dec 18, 2014 11:06am Dec 18, 2014 11:06am
Quoting benaiah
Back to shorter term, looking for it to find support above 118.96 to confirm the next upward move (target 120) is still intact...


going to be jumping in long once I find a decent entry
  • #1,313
  • Dec 18, 2014 11:12am Dec 18, 2014 11:12am
Bounced off the bottom of channel like 5 times now.
  • #1,314
  • Dec 18, 2014 11:28am Dec 18, 2014 11:28am
Quoting benaiah
RTM - I believe you are right on. There might be some volatility, but this thing is clearly moving up. I posted charts on the daily chart last night showing the trend has resumed. I no longer see it trapped in consolidation again, in terms of the overall picture. I think we are back to Bull City Baby! The way to trade this pair now - If it is consolidating and moving down, or if it is breaking resistance, same plan - Look for it to find support and jump in long. Right now it is clearly targeting 120. Every time there is a strong move up, it create...
You right, 120 .xx is the target for UJ. It will likely come before the end of trade tomorrow.
  • #1,315
  • Dec 18, 2014 11:34am Dec 18, 2014 11:34am
Quoting palinco
{quote} You right, 120 .xx is the target for UJ. It will likely come before the end of trade tomorrow.
  • #1,316
  • Dec 18, 2014 11:35am Dec 18, 2014 11:35am
Quoting Sunsilk
{quote} going to be jumping in long once I find a decent entry
You see the bounce on bottom of channel? I entered long here
  • #1,317
  • Dec 18, 2014 11:37am Dec 18, 2014 11:37am
Quoting benaiah
{quote} You see the bounce on bottom of channel? I entered long here
I use very tight SL though, since if channel breaks could drop some more...
  • #1,318
  • Dec 18, 2014 11:44am Dec 18, 2014 11:44am
I lurk, because I'm a noob and want to learn more before I speak more.

Just got to say I appreciate all of your thoughts.
  • #1,319
  • Dec 18, 2014 11:48am Dec 18, 2014 11:48am
Quoting benaiah
{quote} I use very tight SL though, since if channel breaks could drop some more...
same bought here to.

Tight SL as well just in case that 200ema decides to give way...
  • #1,320
  • Dec 18, 2014 11:50am Dec 18, 2014 11:50am
Quoting Sunsilk
{quote} same bought here to. Tight SL as well just in case that 200ema decides to give way...
Yep, H1 200 EMA, or D1 8 EMA. Price seems to be moving away (up) from them. So far so good...
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