Success is never accidental. — Jack Dorsey
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Here at Charting Wealth, we focus on the reality of price movement by following trends. We teach you a simple and effective method to read stock, ETF and crypto charts, keep your emotions in check and learn when to buy and when to sell. Charting is your road map to the market and the riches it can offer.
Forget the hype you see and hear in the financial news media. They are selling products in print ads and commercials. Focus on what is real, no matter how hard it can be to believe! Otherwise, you become a sucker or worse, a slave, to the delusion someone else wants you to believe.
Use the lessons we teach every day to accurately chart any stock, commodity, ETF and cryptocurrencies. We give you daily, real life lessons with the four ETFs we track: S&P 500, NASDAQ 100, 20-Year Treasury Bonds, Gold and Bitcoin. We have all the tools you need to learn how to trade.
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We urge you to “Follow the charts, NOT the noise!” and want to help you follow the market and improve your knowledge of stock and ETF movements.
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At ChartingWealth.com every day the market is open, we chart the S&P 500, NASDAQ 100, Gold & Bonds. In just a few short minutes, we give you a valuable training update and quickly review the trends we see taking place in the market. At the end of every week, we give you an overview of what happened over the last five days and what’s on the calendar for the next trading week.
DISCLAIMER: We offer NO advice and make NO claims to expertise of any kind. This site is dedicated to knowledge and education through our stock chart training, reviews and other information — nothing more.
Success in Market Analysis: Deliberate Strategy Over Accidental Fortune
“Success is never accidental,” as Jack Dorsey aptly puts it. This mantra holds particularly true in the world of market analysis. Thanks to all of you, especially our Patreon members, for your continuous engagement and dedication to learning and improving your trading skills.
This week, we’ve already updated the Patreon page with three-wave trades from liquid stocks and ETFs with liquid options. These curated trades, along with our weekly vertical crossovers and charting of cryptos, commodities, and currencies, provide a comprehensive view of various market segments, from the Euro and Yen to copper, gas, and Bitcoin.
Before diving into the current market trends, let’s reflect on the law of averages and its crucial role in understanding market movements. Those who have been with us know the effectiveness of our methods, primarily through practice trading. For newcomers, understanding how the stock market works and leveraging its functions is key to success.
Our real secret lies in a simple charting technique where we follow trends on the weekly chart, utilizing the average true range (ATR) on the two-day chart. The ATR gives us an insight into the market’s recent volatility and helps us set up our profit and loss bands. By cashing out half of our position when the market moves up by one ATR and letting the rest run, we balance minimizing losses and maximizing profits.
This week, we’ve observed the S&P 500 pulling back slightly, not reaching a higher high and stalling at the trend line. The NASDAQ 100 shows even more signs of reversal, with several days of downward movement. This cautious observation is crucial as we watch to see if this is a temporary stall or the beginning of a larger downward trend.
Bonds, on the other hand, have shown a positive trend, with significant growth in the past days. This reinforces the benefits of our approach in trend-following and risk management.
Gold and Bitcoin also present interesting cases. Gold has shown some weakness, while Bitcoin has maintained a steady upward trend, reinforcing the importance of diverse portfolio tracking and analysis.
In conclusion, success in market analysis is not about luck; it’s about deliberate strategy, consistent practice, and understanding the nuances of market movements. By minimizing losses and letting profits run in practice trades, you can witness firsthand how effective this approach can be.
