Richard D. Wyckoff was a master tape reader. Using the prices printing on the tape, he constructed classic vertical bar charts and then studied the price action on the charts with the skill and techniques of a seasoned tape reader. His objective was to identify the actions and motives of the very large market (composite) operators in the visual price and volume data. To the trained eye, their motives are revealed in the behavior of price, price spread, and volume on the charts. A legacy of Mr. Wyckoff’s life was the teaching of this mastery skill to the individual investor/trader, which to this day is still very relevant and powerful in the interpretation of chart data and trend direction.
William Reardon and Roman Bogomazov are two masters in this age old craft. William and Roman teach Tape/Chart Reading classes every Monday.
Connect with Bruce -