Randy,
What time period trader are you? Long Term, Intermediate or Short Term?
Short term to Intermediate I'd guess. Not Intraday, however I also don't look at Weekly or Monthly charts. In a brand new Demo account I started I have been after the 4hr as well as Daily chart installations.
Fantastic morning everybody. I have been submitting a few updates this week around the EURUSD, GBPUSD and USDJPY. If anybody want to see a Daily River Level Chart for another pair, please allow me to know. I will attempt to place the chart only without any analysis. You may use it as a manual.
Hope everybody is doing well.
Well - guess it is fair to say that we needed a dam(n) collapse on the river today. My equities portfolio may be heard before praying to get a hurricane with all the corresponding tidal surge (but alas, wrong time of year) - lol.
Had an opportunity to begin reading the journal here this day - it is apparent my essential reading load has been upped several notches. Fantastic stuff, DRT. Also looking forward to getting caught up on the site. Once more, sir, I commend you for your efforts! You are an inspiration!
Best regards,
mephisto
Originally Posted by ;
Am I right if I say that the yellow lines for the daily are the river amounts from the monthly chart or they derive from it?Originally Posted by ;
Thank you DRT for its superb eduion and continuing support.
S
Your are the scientist. Yes that's correct, the Static levels on the daily chart are derived from the Monthly River Levels on the Price Dist Analysis. They come in value zones.
CAUTION: I don't exchange this cross. Use you own judgement
http://home.comcast.net/~downrivertrader/gbpjpy.PNG
Originally Posted by ;
Found the answer. Thanks!Originally Posted by ;
I'm not sure if this has been answered before as I'm still reading the first couple of pages of the thread so I'll go ahead and ask. Can you use the monthly information to gauge direction? For example for EURUSD over 3063 will probably be bullish bellow bearish?
BINGO! The old Gal did have some life after all. </b>
The analysis out of yesterday was right on the money with this pair today. I hope you could have some nice profits on almost any longs today. I wonder exactly what novice traders were thinking as sje looked tired and old. My guess is that the buying was a lot of short covering. What do you think?
This is your analysis from yesterday. .
Traders can continue to look to establish new longs on down a move to the 9251 area. We might get a push through this level down nearer to 9200 which would represent an excellent buying opportunity. Set your risk area below 9175, which will indie this view is incorrect in the near term.
We got a wonderful push down to 9212 and that I wager most were promoting. I expect you went as we rocketed up 162 points from the area. </b>
So what now? </b>
Longer term I continue to search for 9594, but we certainly have some wood to chop before we get there.
If you are long remain long, River comes in at 9397 today and we will have to push through this area to continue up to our higher targets. Expect volitilty here. Continue to search for 9443. The area between River and Zone -1 will be critical. I anticipate a lot of supply here. Attempt to give this area some area to resolve if your risk tolerance level might manage it, even if not there's nothing wrong with carrying profits before these levels if we get there and waiting for this area to resolve.
Any move back through 9251 will cancel my short term bullish view and I would recommend to exit longs.
Do not forget to review the PDA charts with this one.
NEUTRAL UNTIL RIVER IS RESOLVED AT 9374</b>
http://downrivertrader.squarespace.c...d3-15-2007.PNG