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Created on: 6/6/2023 9:01:26 PM Last Update: 6/6/2023 9:18:23 PM Posted by: RTT
1 POST
Silver Volume Swings
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 Richard Wyckoff told his students think of waves of price and volume. The dog fight of bulls and bears will always resolve.
There are not many books which actually assist money making, yet Tim Ord book below certainly helped this site.
In the book above Tim Ord expands Richard Wyckoff logic and explains how to review waves of price and volume. Lets use silver ETF as an example (code is within readtheticker.com Analysis chart, more examples here)
The chart below uses a fixed bar period to form a 'price wave' and sums up the raw volume for each price wave. Up price waves are blue, down price waves are red.
Lets review the purple numbers 1 to 5 on chart 1.
(1) High volume break out rally higher, very strong demand.
Point: Sign of strength by bulls.
(2) After a failed attempt to move higher a high volume sell off, a lot of supply, weakness confirmed with move down after swing 24.
Point: Bulls gave up and sold, some increased shorts.
(3) A high volume sell off, shorts getting exited, breaks support, which eventually failed.
Point: A high volume test of support by the bulls, the bulls prove they are in control and the bears are shaken out when swing 9 lower fails.
(4) High volume rally.
Point: Bears short covering and giving up, bulls accumulating at a cheaper price.
(5) High volume rally. Bulls accumulating, may be tagged a sign of strength if price gets to resistance. Point: Sign of strength in play, but a work in progress, if it stalls price maybe for more sideways churn.
Chart 1: Silver (SLV ETF) Volume Swings
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Chart 2: Silver Futures Curve
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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...
.."Don’t trust your own opinion and back your judgment until the action of the market itself confirms your opinion"..
Jesse Livermore Trading Rule
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.
.."A radical is one who speaks the truth."..
Charles August Lindbergh Snr
.."Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it"..
Thomas Sowell
..."I always believe that prices move first and fundamentals come second"..
Paul Tudor Jones
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We at readtheticker.com hold the view that a mix of stock chart technical analysis, Richard Wyckoff, William Gann and Jim Hurst methods plus market fundamentals allows the investor to formulate a very sound market opinion. These attributes are mutually inclusive and must be weighted equally before investing or trading in any Stock, ETF, Currency, Bond, Commodity, CFD or Mutual Fund
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