Courtesy of Read the Ticker.
Big profits come from big swings within the long term channels.
Here are the big channels for gold (GLD) and Dow Jones (INDU).
Readtheticker has price data for 100+ years for the important securities.
The red arrows are points of interest.
Gold holds support, demand present.
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Gold first attempt was a fade, now a chance to break upper blue channel.
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Dow hits green upper outer channel, awesome!
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Dow double top, or double failure to get over upper green channel forces profit taking. Of course after Mr Powell makes interest rate noise. support from red channel lines. Will it hold as it has before!
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Fundamentals are important, and so is market timing, here at readtheticker.com we believe a combination
of Gann Angles,
Cycles,
Wyckoff and
Ney logic
is the best way to secure better timing than most, after all these methods have been used successfully for 70+ years. To help you applying Richard Wyckoff and Richard Ney logic
a wealth of knowledge is available via our RTT Plus membership.
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
After a question on how to become a better investor professional Mr Munger responded, ..“Read history, read history, read history.”..
Charlie Munger
..”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
..“Successful speculation requires staying on top of changes in industries and companies that either create new industries or improve on existing industries. The majority of your profits will come from these two … The shrewdest traders throughout history all adapted the skill of reactionary change, as the market constantly presents new and different opportunities.”..
Bernard Baruch
…..“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
