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 This easy-to-read guide provides a clear understanding of Japanese Candlestick Charting, an increasingly popular and dynamic approach to market analysis. Steve Nison, known around the world as the ?Father of Candlesticks, uses hundreds of examples that show how candlestick techniques can be used in all of today's markets. Traders will learn how candlestick charting can be used to improve returns and help decrease market risk
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Japanese Candlestick Charting Techniques
Charting techniques used by the Japanese for over 100 years are explained for today?s traders and investors in:
JAPANESE CANDLESTICK CHARTING TECHNIQUES, SECOND EDITION: A Contemporary Guide to the Ancient Investment Techniques of the Far East
Steve Nison
Completely informative and global in its outlook, Japanese Candlestick Charting Techniques, Second Edition provides an in-depth explanation of candlestick plotting and analysis. This exciting book exposes the reader to the practical applications Steve Nison gained from years of study and research in this now popular and dynamic area.
Today, almost all charting packages include candle charts.
This book contains hundreds of examples that show how candlestick techniques can be used in all of today?s markets. Through such patterns as the ?dark-cloud cover? and ?hanging-man lines,? traders will discover how candlestick techniques provide unique market insights. They will discover see how candles will provide early reversal signals, improve timing entering and exiting markets and can be merge with classic Western charting techniques.
This totally updated revision focuses on the needs of today?s traders and investors with:
* All new charts including more intra-day markets
* New candlestick charting techniques
* More focus on active trading for swing, on-line and day traders
* New Western techniques in combination with candles
* A greater spotlight on capital preservation.
Candle charts are older than bar charts, older than point-and-figure charts, but were completely unknown in the West ? until Steve Nison introduced them through his articles, seminars, and his books.
Table of Contents
PREFACE v
ACKNOWLEDGMENTS vii
ABOUT THE AUTHOR xi
Chapter 1 INTRODUCTION 1
What's New in This Book 2
Why Have Candle Charting Techniques Captured the Attention of Traders and Investors Around the World? 2
Who Is This Book For? 4
Some Background 5
What Is in This Book? 7
Some Cautions 8
The Importance of Technical Analysis 11
Chapter 2 A HISTORICAL BACKGROUND 15
PART 1: THE BASIS 21
Chapter 3 CONSTRUCTING THE CANDLESTICK
LINES 23
Drawing the Candle Lines 25
Chapter 4 REVERSAL PATTERNS 31
Umbrella Lines 32
Hammer 34
Hanging Man 38
The Engulfing Pattern 42
Dark-Cloud Cover 49
Piercing Pattern 55
Chapter 5 STARS 61
The Morning Star 62
The Evening Star 66
The Morning and Evening Doji Stars 70
The Shooting Star and the Inverted Hammer 74
The Shooting Star 75
The Inverted Hammer 77
Chapter 6 MORE REVERSAL PATTERS 81
The Harami Pattern 82
Harami Cross 83
Tweezers Tops and Bottoms 87
Belt-Hold Lines 93
Upside-Gap Two Crows 95
Three Black Crows 97
Three Advancing White Soldiers 99
Three Mountains and Three Rivers 103
Counterattack Lines 109
Dumpling Tops and Frypan Bottoms 114
Tower Tops and Bottoms 119
Chapter 7 CONTINUATION PATTERNS 125
Windows 126
Tasuki 134
High-Price and Low-Price Gapping Plays 136
Gapping Side-by-Side White Lines 139
Rising and Falling Three Methods 142
Separating Lines 150
Chapter 8 THE MAGIC DOJI 155
The Northern Doji (Doji during Rallies) 158
The Long-Legged Doji (Rickshaw Man), the Gravestone Doji, and the Dragonfly Doji 161
The Tri-Star 170
Chapter 9 PUTTING IT ALL TOGETHER 173
PART 2: CONVERGENCE 181
Chapter 10 A CLUSTER OF CANDLES 187
Chapter 11 CANDLES WITH TREND LINES 193
Springs and Upthrusts 199
The Change of Polarity Principle 205
Chapter 12 CANDLES WITH RETRACEMENT
LEVELS 213
Chapter 13 CANDLES WITH MOVING AVERAGES 217
The Simple Moving Average 217
The Weighted Moving Average 219
The Exponential Moving Average 219
Using Moving Averages 219
Chapter 14 CANDLES WITH OSCILLATORS 225
The Relative Strength Index 226
Computing the RSI 226
Using the RSI 227
Moving Average Oscillator 229
Computing the Moving Average Oscillator 229
Using the Moving Average Oscillator 229 Stochastics 233
Computing Stochastics 234
Using Stochastics 234
Moving Average Convergence-Divergence 237
Constructing the MACD 237
Using the MACD 237
Chapter 15 CANDLES WITH VOLUME 241
Chapter 16 MEASURED MOVES 249
Breakouts from Boxes 250
Swing Targets, Flags, and Pennants 255
Chapter 17 THE BEST OF THE EAST AND WEST:
THE POWER OF CONVERGENCE 263
CONCLUSION 267
Glossary A CANDLESTICK TERMS AND VISUAL DICTIONARY 269
Glossary B WESTERN TECHNICAL TERMS 279
BIBLIOGRAPHY 285
INDEX 289
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