Thursday, January 14, 2010

Silver

Successful tape reading is a study of Force; it requires ability to judge which side has the greatest pulling power and one must have the courage to go with that side. - Richard Wyckoff

One the elite traders knew the importance of force without the benefit of computers to reveal it. The best traders simply feel it. As expected, SLV has found the gap. The force of the advance, however, was too weak to break it.

Reading the tape is a study of time and force. The trend needs time to build the energy/force necessary for a clean break of resistance.

Silver ETF (SLV)


Source: en.wikipedia.org

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