Candlestick Charting For Dummies

by Rhoads, Russell

• ISBN13: 9780470178089
• ISBN10: 0470178086
• Edition: 1st
• Format: Paperback
• Copyright: 2008-04-07
• Publisher: For Dummies

Summary

Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! Candlestick Charting For Dummies sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns - and pounce!This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, you'll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. You'll discover the advantages candlestick has over other charting methods and learn the secrets of combining it with other technical indicators. You'll also get familiar with different ways to display and interpret price action, including trend lines, support levels, resistance levels, moving averages, and complex indicators. Discover how to: Construct candlestick charts Identify and interpret basic patterns Trade in bull and bear markets Work with complex patterns and indicators Avoid False signals Understand the components of market activity Deal with bullish or bearish single-stick, two stick, and multistick patterns Identify and interpret complex patterns Use indicators to determine the market Outperform the market in any conditionsDon't know whether to grab the bull by the horns or just grin and bear it? Read Candlestick Charting For Dummies and get it right the first time.

Author Biography

Russell Rhoads is a trader and analyst for Peak Trading Group in Chicago. His career in trading and market analysis covers over 17 years. He has a BBA and MS in Finance from the University of Memphis and has done graduate level work in Financial Engineering at the Illinois Institute of Technology. Russell also holds the Chartered Financial Analyst designation.

Table of Contents

Introduction

Getting Familiar with Candlestick Charting and Technical Analysis

Understanding Charting and Where Candlesticks Fit In

Getting to Know Candlestick Chart

Building a Base of Candlestick Chart Knowledge

Using Electronic Resources to Create Full Charts

Working with Simple Candlestick Patterns

Working with Straightforward Single-Stick Patterns

Single -Stick Patterns That Depend on Market Context

Working with Bullish Double-Stick Patterns

Utilizing Bearish Double-Stick Patterns

Making the Most of Complex Patterns

Getting the Hang of Bullish Three-Stick Patterns

Trading with Bearish Three-Stick Patterns

Combining Patterns and Indicators

Using Technical Indicators to Complement Your Candlestick Charts

Buy Indicators and Bullish Reversal Candlestick Patterns

Sell Indicators and Bearish Reversal Candlestick Patterns

Using Technical Indicators Alongside Bullish-Trending Candlestick Patterns

Combining Technical Indicators and Bearish-Trending Candlestick Patterns

The Part of Tens

Ten Myths about Charting, Trading, and Candlesticks

Ten Tips to Remember about Technical Analysis

Index

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