V.4:9 (340-342): Wyckoff method of trading stocks part 8 Trendlines: Refinements in charting by Jack K. Hutson
Product Description
Wyckoff method of trading stocks part 8 Trendlines: Refinements in charting by Jack K. Hutson
Like any complex activity, chart interpretation includes some aids to the process. Trendlines are one of these aids that help Richard D. Wyckoff analysts visualize what is occurring in their Vertical and Figure charts.
The rationale behind Trendlines is straightforward. When a stock is being accumulated, it is storing up the force of demand which is the power for an ensuing upward movement. The force of demand gives price a certain momentum to carry it higher until demand is diminished or a new force of supply strong enough to change its path comes into the picture. An indication that demand may be dying out on a rise or that supply is gaining the upper hand is the tendency of prices to arch over or flatten out.
Like any complex activity, chart interpretation includes some aids to the process. Trendlines are one of these aids that help Richard D. Wyckoff analysts visualize what is occurring in their Vertical and Figure charts.
The rationale behind Trendlines is straightforward. When a stock is being accumulated, it is storing up the force of demand which is the power for an ensuing upward movement. The force of demand gives price a certain momentum to carry it higher until demand is diminished or a new force of supply strong enough to change its path comes into the picture. An indication that demand may be dying out on a rise or that supply is gaining the upper hand is the tendency of prices to arch over or flatten out.
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