Elements of charting Wyckoff method of trading stocks part 2 by Jack K. Hutson The second of a series which presents the Richard D. Wyckoff method of trading stocks. In this article, the different types of charts upon which the Wyckoff method is based are examined. Vertical line, figure and wave charts are all essential to the study of the market using Wyckoff's techniques. The two most desirable things to know about the stock market are when the final top of a bull market, an intermediate swing, or a minor move occur and when the final bottom of a bear market, an intermediate swing, or a minor move comes about. Like everything else in stock market analysis, it's easier said than done. That's why the person who can accurately interpret charts to determine where the market lies at any given moment holds the key to successful trading and investing. The forecasting value of charts is the focus they bring to supply and demand, trading volume and the urgency of trading—the forces lifting and depressing prices. Charts tell an experienced reader whether the market, a group of stocks, or any single stock is likely to advance, decline or stand still. |
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