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Created on: 9/14/2021 2:52:34 PM Last Update: 9/14/2021 2:56:27 PM Posted by: RTT
WARNING: This entry is 814 days old. It may contain broken links, out-dated or misleading content. Please read on with caution.
1 POST
Gold and Silver Volume Waves Review
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 The sign says it all. The professionals want the public to focus on the words, to scare out the weak hands, but the color of the sign underlines the value in a money printing world, its gold stupid.
Point and figure (PnF) charts draw price waves with the sum of volume per wave. PnF charts high light true accumulation underneath price action. This is why Richard Wyckoff favored PnF charts.
In the charts below we see price moving sideways to down, yet volume on up waves are greater than volume on down waves. At the moment there is no heavy selling on down waves. Or in other words price is being moved down at a low volume expense to allow accumulation at a lower price.
This action represents professionals building their bullish position over time. They do have to sell volume to get price down so they can buy more at a lower price. Simply, sell 10 @ $1 and lower to buy 12 @ $0.90, rinse and repeat, and yes their overall position grows. In the end the professionals will have a position of size for greater profit (to learn more please study Richard Ney work within RTT Plus library).
POINT: So long as heavy selling does not occur then gold and silver ETF's are being accumulated. Even if heavy selling does occur, we watch for even large buying to offset it. So far gold and silver action remains bullish and the period time passed suggests accumulation activity is near the end and a mark up will most likely follow. Keep watching between Nov 2021 and Jan 2022.
Chart 1 - Gold ETF
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Chart 2 - Silver ETF
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NOTE: Posts here are the lite version, more depth on each subject can be found via our RTT Plus membership.
Changes in the world is the source of all market moves, to catch and ride the change we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to ride the change, after all these methods have been used successfully for 70+ years.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
..."The game taught me the game. And it didn’t spare the rod while teaching."...
Jesse Livermore
.....“I measure what's going on, and I adapt to it. I try to get my ego out of the way. The market is smarter than I am so I bend.”..
Martin Zweig
.."When I bet big .. I have a mind to own a position for years .. Yet you must have a ruthless objectiveness and open mindedness as to when the facts change to exit the position, if so within hours or days .. I have not used a stop loss in 40 years"..
Stanley Druckenmiller
The minute you get away from the fundamentals – whether it’s proper technique, work ethic, or mental preparation – the bottom can fall out of your game.
Basketball Legend Michael Jordan.
..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..
Warren Buffet
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