Steve Nison's Beyond Candlesticks: New Japanese Charting Techniques PDF

By Steve Nison

This can be a sturdy addition to Nison's first ebook, and does comprise a few new candlestick info. There are a number of new styles Nison mentions that are adaptations of styles in his first booklet. He discusses real buying and selling ideas, ie whilst to shop for, promote, the place to place stops, which i discovered missing within the first booklet. i discovered this data to be important, that is inside the first 1/2 the book.

The moment 1/2 the ebook bargains usually in Kagi, Renko, and Three-Line Charts. i am not yes what to contemplate those. i do not be aware of if i will ever use the data I discovered to attract charts through hand, however it is well a brand new solution to research and chart facts. those charts primarily tune exclusively the stream of shares with no regard to time. the three Line holiday chart calls for a powerful pattern to be good reversed sooner than a brand new line will convey at the chart, therefore a brand new low should holiday three new highs' starting low so one can look at the chart. The Renko chart is the same yet a brand new line is drawn after a specific increase/decrease within the rate has been met (either nominal or percentage).

There is a piece on relocating averages that's really uninformative. Nison provides the japanese phrases for while a quick MA crosses a longer-term MA. He notes the MAs that jap investors wish to use: three, nine, thirteen, 26.

I examine the 1st part very priceless, and the second one part well worth the learn, yet i am not convinced how useful the data might be to a private investor like myself. All in all, an outstanding publication and sturdy learn. Nison can provide back.

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Extra resources for Beyond Candlesticks: New Japanese Charting Techniques Revealed (Wiley Finance)

Sample text

In this example, the preceding trend was down. Thus, the bearish candle action during the lateral range reinforced the classicwestern theory and increasedthe odds of a continuation of the preceding downtrend. But before that, I will discuss new ways of interpreting candle patterns. This methodology will help illuminate the theory and market action behind eachcandlepattern. 22). This method is sometimesused in the ]apanesecandlestickliterature to help clarify whether a pattern is bullish or bearish.

Although the arrow in the directional pattern analysis will show the path taken by the market during the sessfon,it will not show the order of when these prices where touched. 27 (A), we know that, at some time during the session,prices moved under the opening price. However, we do not know when the price moved under the open. 27 (D) may make it appear that the market immediatelv moved lower after the opening, it may not have unfolded that way. The market instead may have rallied after the open and later in the sessionfell under the opening price.

This line often swerves as support or resistance. 45 that it was support in early November and again in early |anuary. The test of this support in early fanuary via long lower shadows, shows how strongly and quickly the market sprang from there. For those who are familiar with candles, the first long lo*", shadow candle is a hammer. Hammers will be explained in the next chapter. It shows that the market is in a standoff between the bulls and bears. when a high-wave emerges after a downtrend or uptrend, the |apanesesay that the market has lost its senseof direction.

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