by Rick Ackerman on July 15, 2009 12:01 am GMT
All of the numbers are located on the chart so I don’t feel that I have to go over them. This is what my trading screen looks like. I have left off the Pressure indicator for clarity purposes. The daily chart still has upside pressure being applied to it. Price moving toward the 935 level. Price did find support at the 907 level.
The 15 min. chart has upside pressure being applied to it. Price found support at the short cycle po2 level for the down move and is currently oscillating around P for the move up at 925. The price objective on the 60 min chart at 926 is currently acting as resistance to a move higher. There is also upside pressure being applied to the 60 min chart. For price to start down again it would have to go through 921.80 and then 915.90 would be P and a possible temporary support. Ira
by Rick Ackerman on July 15, 2009 12:01 am GMT
This ETF has been in a downward spiral for some time now. There is currently upside pressure being supplied to the daily chart, but there has been very little movement in price. Price found support at the latest short cycle target. For price to start a meaningful up move it would have to go through 13.10 and then the first price objective would be 14.30 with a target price of 16.70.
The 15 min chart has upside pressure in the over extended area of the chart. Price should find resistance at 12.63 with a D at 12.92. Look for resistance at 12.77. For the down move to start again price would have to go through 12.26 and then the first price objective for the move down would be 11.95.
by Rick Ackerman on August 27, 2010 9:07 am GMT
The next Hidden Pivot Webinar will be held on 6/30 - 7/1. This two-day event is designed to teach you the risk-averse trading strategies Rick has taken to his seminars around the world. Once you have learned his proprietary secrets, you will approach trading and investing with enough confidence to make your own decisions without having to rely on the advice of others. For more information, or to register,
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Ira’s Last Day
by Rick Ackerman on July 15, 2009 12:01 am GMT
I will have to say that it has been fun meeting a whole new group of people. Each of you is unique in his or her own way. I have enjoyed the back and forth with Hunt. My wife and I still remember him fondly and can’t figure out any reason for him to still live in Texas. The chat room has been filled with grumbles of late claiming conspiracy theories. Goldman Sachs has become the giant conspirator and the government and all of its agencies remain the great Satan. There always seems to be someone or something that is doing you dirt. Why don’t you take a look at how this can be your edge? My philosophy has always been follow the money. I don’t care if it is GS or the Fed. Let them run it any way they want I’ll just get on board and take my little piece of the pie. I am not greedy. So I don’t care if gold goes to $1300 or back to $350, I will take my piece of the action and leave the rest to others. Writing here has restricted my trading, but on Thursday I will start up again. You should be able to consider the market as your private ATM machine and tap it any time that you need some extra money. There are loses. I know that I am not perfect and I know that the only one that is going to cost me money is me, not GS, the Fed or anyone on the floor of any of the exchanges. Once you learn to accept the full reponsibility for your actions you will find it a lot easier to trade successfully because you won’t be looking for someone to blame for everything that goes wrong with your account. Each night you should go over your trades and see what you did right and what you did wrong. Making money has nothing to do with right or wrong. If you followed your system you did right, win of lose. Rick will make mistakes and bad calls and I will make mistakes and bad calls. If you don’t do anything you can’t make a mistake, and that is the greatest mistake of all.
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