The View Down River

[BLR]

Thank you for the link to the Objective Elliott Wave analysis forum it is much appreciated. I was not aware of it and I am always ready to learn something new from someone else who seems to be having some success.

The current chart, at about 3 pm, is looking a little better and we should be poised to move higher. Patience is the key. As Jesse Livermore said, "the man who can be right and sit tight is unusual" I am always trying to relearn that simple but effective concept.

I am still long from 1.1933 and will add to my position at a trade above 1.2092. We'll see how the chart looks if it is able to climb that mountain.

Next resistance level is around 1.1967. The data on the US funding issue is to be released later in the week and it may be the catalyst to send the dollar lower. Preliminary figures suggest that there will be a shortfall..bond sales are beginning to sag.

Good luck.

 

[downrivertrader]

Hello everyone. I am just back from vacation. Glad to see there is still someone around.

I took a short position at 1.2034 late today. I will post some thoughts once I clear my head a little.


Went on a cruise of the Caribbean last week. I put on a short trade on March 3rd after the run up in wake of the ECB announcement. I based the decision on the action I saw in the bonds. I held the position all week. It was a great week. I made some good money, smoked some Cuban cigars and got to relax a little in the sun. I got out of my short trade on Thursday afternoon before the Friday data. Just too risky, but I would have made a little more if I had been able to monitor things.

When I checked in on Sunday evening, I think the trade had gone against me fairly bad, so it was a nervous start. Probably a stupid thing to do, but I get bored easy and it kept me form eating so much.

Hope everyone had a good week.

 

[downrivertrader]

The View Down River

ECM06

I am currently short at 1.2034.

Here's what I see for the next several hours.


1.2101 - Strong Resistnace
1.2073 - Strong resistance
1.2034 - Short below this level
1.2025 - THis needs to be cleared for a move lower.
1.1990/94 - Very Strong support. Possible long here.
1.1966 - This is my current target area. I will cover at 1990/94 if there is a strong move up.

DRT

 

[downrivertrader]

Up or Down. Inflection points can not last forever (can they?)

Looks like down, but we'll see.

DRT

 

[downrivertrader]

The View Down River

(ECM06) Price is at 1.2017

I am currently short at 1.2034.

Just a reminder that my values adapt to market conditions. They will change depending on violatility. Here's what I see leading up to 8:00AM and the US Data.


2096 - Strong Resistnace
2073 - Strong resistance
1.2031 - Short below this level
2022 - THis needs to be cleared for a move lower.
2003 - Modest Support
1.1990/94 - Very Strong support. Possible long here. Take Profit.
1.1961/3 - This is my current target, but I will take profit at 1990 if warranted.

DRT

PS - If anyone is actually following this info and wants me to post spot pricing, I will be glad to do it. Just let me know.

 

[downrivertrader]

I always liked these things. Some may think they are a little corny, but I hope you enjoy.

http://www.wonderofitall.com/

http://www.positivepause.com/en/


Have a great trading day and dream a little. The mind is very powerful. Respect it and embrace it.

DRT

 

[downrivertrader]

I keep all my thoughts organized in a blog. It is like a virtual trading journal for me. I travel fairly often, so I can access it from just about anywhere that I have an internet connection.

One reason I like to post is that it forces me to review my trades and calculate my levels, etc. I would say that my biggest trading issue is discipline. I am not a big believer in stops in this market place. My stops are mental and stop the pain at fairly aggressive risk levels which is not good for everyone. I am always battling this, but it has helped me remain profitable so far.


It would be easier for me if I could just post a link to my blog when I make an entry, but I think Baron does not allow this. I am usually just cutting and pasting from one to the other. Does anyone know for sure if this is allowed or not allowed here???

DRT

 

[downrivertrader]

Spend time understanding yourself and your real dreams.

The Best $7.99 you will ever spend

Check to see if this is available thru the bookstore here at ET.

DRT

 

[downrivertrader]

Definite Purpose, Sense of Direction

Define clearly your goal and commit to its attainment.
Any definite purpose that is fixed in the mind and held there, with the determination to realize it, finally saturates the entire subconscious mind until it automatically influences the physical action of the body toward the attainment of that purpose.

 

[downrivertrader]

Believe

Within me, whoever I am, regardless of how big a failure I may think myself to be, is the ability and power to do whatever I need to do to be happy and successful. Within me right now is the power to do things I never dreamed possible. This power becomes available to me as soon as I change my beliefs.