Techniques of a Professional Commodity Chart Analyst Shows Using price charts and other simple technical indicators to time your trades better, spot price trends, estimate the distance a new price thrust will travel, locate logic points for buy and sell stops, and identify potential trend reversal points. Deceptively simple strategy and tactics coaxes price charts to give up their secrets.
As some of my associates know, this book was a long time in the writing. The study of commodity price chart analysis is so vast and the possible variations of most techniques are so numerous, that much time was consumed with additional research in the course of the writing.
Before including a recommendation of any technique that I had found to be effective in the past, I explored many alternate possibilities. To avoid burdening the reader with lengthy studies of each technical aspect covered, I have tried to keep the text as brief as possible, and have emphasized the techniques that I consider most valuable and the variations that I believe to be most helpful.
Most of the work in this book is original, based on concepts that I developed over the years; the balance covers techniques already known, some of which I have expanded or varied.
This book is directed primarily to commodity traders who have already been working with commodity price charts, or who are at least familiar with the well-known elementary techniques. It is also assumed that the reader needs no introduction to the commodity futures markets or to the functions of the various commodity exchanges.
The purpose of technical analysis, of course, is to anticipate the future direction of prices. I hope the techniques described in this book will prove helpful to the reader and enable him to benefit financially from a better forecasting ability.
- Some Basic Concepts
- The Interpretation of Chart Formations
- Trendline Techniques
- Curved Trend Channels
- Predicting How Far a Move Will Go
- Oscillator Techniques
- Use of Moving Averages in· Trend Trading Methods
- Importance of Long-term Charts
- Summing It Up