Using Wyckoff, Gann and Hurst (we call Wyckoff 2.0) to review securities charts is simply the best way to review price action. Lets review copper ETF (JJC).
First, we cant get all our tools into the images as there is not enough room. Hopefully you get the general idea.
1) First Chart: Review weekly or monthly chart for dominant cycles at work. We want to find predicable working cycles that will allow our position trading bias to profit handsomely. Of course review long term support and resistance levels.
2) Second Chart: Review price action with short time frame Hurst cycles (not shown), Gann Angles and percentages to find critical price levels. These levels help pre determine price support and resistance zones for expected Wyckoff phase development (accumulation, distribution, etc).
3) Review price to volume action (not shown).
4) Review price to leading index action or relative strength performance (or alpha, not shown).
You can do all these charts via readtheticker.com, sign up and review.
First view the Forest.
Second, Review the trees.
What we see here is price falling hard and fast. We need price action to base and start moving sideways to up, breaking its way through the bearish red Gann Angles before we get long. The volume on this sell off is very high which shows the big boys like $40 as a support zone. We just have to wait for the mark up phase before we join the party.
