Silver Futures 24 MAY 2021 2314 hrs (trend identification)I am just writing off of the top of my head so the chart is most of the key take aways. If you already understand these idea, then this may not be for you . If you are stuck, i hope that this is helping . I try to put the recommended reading in because that was the hard part.. putting the theories and principles together. There is some crazy stuff out there that usually left me more confused and frustrated. A lot of money was wasted and lost.I was just hard headed and needed to understand what was happening. So again, I hope it helps.
Silver is another once where when the volume strikes its very clear. Gold as well. This is a good chart to convey the idea of a primary trend and secondary trend. Notes are on the chart but ill just throw in that you can see the importance of seeing what is going on to the left of where price is currently moving.
Previous demand and supply zones (order blocks) are a simple and reliable area to start looking. Previous demand zones are generally where trends reverse or require testing before being broken through. Use volume to determine is SM has been in the accumulation process.
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA*
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Dee Nixon
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a range (phase B)
