By Steve Nison
From the "Father of Candlesticks"--penetrating new eastern innovations for forecasting and monitoring industry costs and bettering marketplace timing Steve Nison has performed it back. the fellow who revolutionized technical research by way of introducing jap candlestick charting thoughts to Western investors is back--this time with a quartet of robust eastern recommendations by no means ahead of released or utilized in the West. Stunningly potent all alone, those new ideas pack a good larger wallop whilst teamed up with conventional buying and selling, making an investment, or hedging innovations, and Steve Nison indicates you the way to do it. past Candlesticks presents step by step directions, precise charts and graphs, and straight forward assistance on monitoring and interpreting results--everything you want to decide up those sharp new instruments and take your house on the leading edge of technical research. severe compliment for Steve Nison's first e-book . ". destined to develop into the vintage reference at the subject." --Charles Lebeau and David Lucas Technical Trader's Bulletin "I think Steve Nison's new candlestick booklet is destined to develop into one of many actually nice books for this time period.. even if you alternate futures, commodities, or equities, day exchange or carry positions in a single day, this e-book is a must." --Lee Siegfried Investor's Library, info Broadcasting Corp. "It is tough to be too effusive in regards to the caliber of NiSon's paintings . this is often truly the best funding books ever written when it comes to protecting a topic with pedagogical skill and writing ability. The association is impeccable . examining it was once a pleasure." --Commodity investors customer file
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Additional info for Beyond Candlesticks : New Japanese Charting Techniques Revealed (Wiley Finance)
3tZE6D "He WhoseRanksare United in PurposeWiIl Be Victoious" Dince the publication of my first book, I have had new ]apanesematerial translated, have met new Japanesetraders, and have continued my dialogues with those japanese traders who have previously helped me. As a result, I have gleaned new insights and conceptsthat will be conveyed to you in this chapter. This chapter will not be a reference to all the patterns that are in my first book. Instead, my aim here is twofold. For those new to candles, this chapter will reveal how some of the more common and important candle patterns can provide powerful insights into your market analysis.
2. Use the high of the candle pattern (in other words, the top of the highest upper shadow) as the high of the blended candle. 3. , the bottom of the lowest lower shadow) as the low of the blended candle. 4. Use the close of the last sessionof the candle pattern as the close of the blended candle. 27 (A) is a bearish combination. This is becausethe blended candle shows the bearish aspectsof a long uPPer shadow and small real body near the bottom of the range. 27 (C) Anchor charts-Those who draw the candle charts by hand and are tracking many markets or are restricted in time may find this task to be burdensome.
This oscillatorcompares today's closing price to that of ten sessionsago. For this example, I show the ten day ROC. This compares today's close to that of ten days ago. This reflectsthat the market's upside momentum is growing as prices are ascending. This underscoresa slackening of the upside drive. Thus, the ROC oscillator helped reinforce the bearish implication of doji 2. As further confirmation of a top, there was the long black candle on the day after doji 3. A few days after this black candle, the ROC oscillatorfell under 0 (some techniciansview that as a time to sell).