April 2005 Workshop - comments on today's class

I felt the Workshop went pretty well once we got the charts squared away.

Let's review what we saw together...and some of you stuck around till the afternoon session which was awesome.

* No 10 o'clock Reverse...early 30-minute BO (BD for Elliott)
* 10:30 Reverse Blip type pattern...I have 2 arrows showing what the opportunities were, and the risk.
* Beautiful Blip at 11 o'clock in the green zone...risking only 1 point and not taken out till 12:30 or 1 point which way your emotions led you. I would have gotten out at breakeven...hey! I'm fearful.
* 12 o'clock flop and 30-Min BO...(I know Elliott --- give me a break...inside joke folks.) It stopped on another type blip pattern telling us to look for a reverse.
* W pattern formed on the next move down off of a TT (Triple Top)...and in a zone that we expect it to move toward the low of the day. The W pattern had two opportunities that I pointed out. The first opportunity was of the blip type pattern during the 1:25 -- 1:35 Reverse...beautiful set-up just when your looking for the bullish bias opportunity and wanting to be a Contrarian. If you missed the first opportunity then you could take the breakout of the number 3 point on the W...just do the math if incorporated the Moving Average Strategy. By the way we had another 30-Min. BO on that W pattern to the downside...did you see it?
* After that last attempt to make to make a new high I suggested to once again become a Contrarian but we just ran out of day-light.

Your Thoughts...

Marsh

Quote for the day...

Not everyone can win all the time; obsessing about winning adds an unnecessary layer of pressure that constricts body and spirit and, ultimately, robs you of the freedom to do your best.