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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
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...
.."I believe that uncontrolled basic emotions are the true and deadly enemy of the speculator. That hope, fear, and greed is always present, these emotions sit on the edge of the psyche, waiting on the sidelines, waiting to jump into the action."..
Jesse Livermore
.."Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway"..
Warren Buffett
.."If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks"..
John (Jack) Bogle
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.
.."The stock market is filled with individuals who know the price of everything, but the value of nothing"..
Philip Fisher
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