Courtesy of Read the Ticker.
Many many investors exit a long running trend far to early, and they also fail to recognise when a trend starts.
In a previous blog post we showed you RTT Steps with Gold and Silver, this indicator was designed to compliment our Richard Wyckoff logic. Trends do move up by a process of ‘Cause’ and ‘Effect’, like steps, and as you can see RTT Steps showing the stepping stone (continuation) accumulation phases as well as accumulation bases and of course when price shows a change in character (by either breaking the reaction line or the lower band line).
Also as stated before..
Readtheticker.com RTT Steps tool does so much more than the age old moving averages, they give you the range of expected movement during a trend, a possible pullback reaction line (below the red dotted line is set to 60% pullback [60% between upper and lower range of RTT Steps], and off course a quick view of support and resistance.
Very nice!
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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 did not know then what I learned later, what made me fifteen years later, wait two long weeks and see a stock on which I was very bullish go up thirty points before I felt that it was safe to buy it. I was broke and was trying to get back, and so I waited. That was in 1915.”…
Jesse Livermore
..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..
Arthur Miller, “The Crucible”
[Contrarian Investing]
..“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
..“The main purpose of the stock market is to make fools of as many men as possible”..
Bernard Baruch
..”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
