Success in commodity trading depends on good price forecasting. That’s what this market classic is about. 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.
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.