Kitco’s Coffee Break Webinar Covering Precious Metal Charting June 21, 2012

On June 21st, 2012 Kitco had their third Coffee-Break webinar which featured Jim Wyckoff, who is a recognized leader in precious metal charting and has been involved with the stock, the financial and the commodity markets for more than twenty five years. His experience and specialized training in journalism and economics lends insightful charting experiences of the most technical and analytical patterns which enrich his popularity in the daily AM and PM Round-ups as well as his technically recognized and popular speaking column on

Mr. Wyckoff is recognized as one of the most powerful players in today’s financial economic journalistic market. He is also with the FWN newswire service and has also covered every futures market traded in the United States known today, he has also served as a technical analyst for the Dow Jones Newswires as an expert senior market analyst with the well renowned, and also a well recognized consultant with the “Pro Farmer” agricultural advisory service.

Is The Trend Really Your Friend?

Precious Metal ChartingMr. Wyckoff offers thirty years of trending analysis and provides some of the best information available in the world today with regards to precious metal charting. Mr. Wyckoff often says “The trend is your friend”, he demonstrates in June 21, 2012’s Kitco Coffee Break Session how trend is determined on charts, whether it is a monthly chart, a weekly, an hourly chart or a minute by minute chart which all tend to be extremely valuable tools. Mr. Wyckoff’s knowledge lends additional angles in charting today’s ever changing market place. Mr. Wyckoff bases much of the information on specialized charts which highlight the higher highs and higher lows.

Mr. Wyckoff’s mission is to offer basic and powerful charting methods by demonstrating the charting process as how it pertains to the price up trends based on higher highs and higher lows, as well as price downtrends and their reaction high and the reaction low which can be drawn from these trend lines.

Using Trend Lines

Mr. Wyckoff also illustrated how Trends Lines determining analysis and how it pertains to markets which trade sideways in a choppy session and Mr. Wyckoff will demonstrate how double bottom reversal patterns have unique characteristics as well as pattern recognition tools that pertain to Trend Determining trade analysis which include price up trends and price downtrends, as determined by higher highs and lower lows. He reiterates how traders need to jump on board and ride the price trends to score some good profits.

Mr. Wyckoff refers to many successful trend followers such as well known authors like W.D. Gann, Charles Dow, Richard Wyckoff and Jesse Livermore just to mention a few famous traders of the early to mid 1900’s, who have been proven to be very successful traders based on the fact that they utilize these valuable charts.

Pattern Recognition Tools

Mr. Wyckoff demonstrates how valuable pattern recognition tools can be utilized and be applied to your particular timeframe. He emphasizes that these charts, which can form double bottom reversal patterns on trading are invaluable as well as excellent tools for which will help one understand the volatile market. Mr. Wyckoff’s fine insight to these charts demonstrates that when the market bounces back up, the market is viewed as either a double reversal or double top reversal.

He explains how bottom reversal is rare and creates this scenario of how hard and harder it becomes to see the gap occurring. He continues to demonstrate how island bottom and top reversal’s show basic analytical tools and patterns which are, from his point of view, “without the aide of a computer” and that these charts are the most valuable trading tools available in the world today. Mr. Wyckoff’s ‘diamond patterns’ indicate that the market has put in a top and explains that these do not occur very often.

Mr. Wyckoff reiterates that the technical analysis is so far as more of an art, rather than a science and reinforces that there is no definitive definition, but rather what the viewer sees. Mr. Wyckoff also says to keep in mind that these patterns are not always 100% accurate and reiterates many times that if it were not so, trading would be extremely easy, which certainly makes sense.

What’s In A Name

Some of Mr. Wyckoff’s charts don’t even have names but he reinstates that charting will enhance your conceptual understanding of the marketplace today. He continues to go on and explain in detail how the bearish pennant charts are so important and help you to gain a full understanding of the market. Mr. Wyckoff continues on to mention that the bearish and bullish trends can be viewed on a downside gap which will be indicative of a bearish market. Diamond Patterns and market tops are bearish indicators that the market has put in a top.

His Falling Wedge Chart indicates how bullish upside breakouts and Downside Gap charts are derived. An important congestion area or sideways trading are indicative of a bullish pennant pattern. The Kitco Coffee Break session hosted by Mr. Jim Wyckoff goes into great detail on how the market can moves with bullish breakouts and his utilization of secondary indicators.

Mr. Wyckoff reiterates that there is no one trading methodology that works for all, so he encourages every participant to find a method that works best for them and indicated that each trader does find his or her own best method which is suited specifically for each trader.

If you are a trader who would like to enlighten yourself or gain some very insightful information, you can gain access to Kitco’s Mr. Jim Wyckoff ‘s June 21, 2012 Kitco’s Coffee Break Webinar’s Second Coffee-Break Session entitled “Basic and Powerful Charting” which can be found on Kitco’s website, you can sign up for future Kitco Coffee Break webinars by following this link to their precious metal charting discussion forum.

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