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Beyond Candlesticks: New Japanese Charting Techniques by Steve Nison

By Steve Nison

This can be a solid addition to Nison's first ebook, and does include a few new candlestick details. There are a number of new styles Nison mentions that are diversifications of styles in his first booklet. He discusses genuine buying and selling innovations, ie whilst to shop for, promote, the place to place stops, which i discovered missing within the first e-book. i discovered this knowledge to be priceless, that is inside the first half the book.

The moment 1/2 the e-book offers normally in Kagi, Renko, and Three-Line Charts. i am not yes what to consider those. i do not be aware of if i'm going to ever use the data I discovered to attract charts by way of hand, however it is easily a brand new strategy to study and chart information. those charts primarily music exclusively the move of shares with no regard to time. the three Line holiday chart calls for a robust development to be good reversed prior to a brand new line will convey at the chart, consequently a brand new low should holiday three new highs' starting low so one can look at the chart. The Renko chart is identical yet a brand new line is drawn after a specific increase/decrease within the expense has been met (either nominal or percentage).

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

I think of the 1st part very priceless, and the second one part well worth the learn, yet i am not yes how worthy the knowledge can be to a private investor like myself. All in all, a superb e-book and solid learn. Nison offers back.

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Additional info for Beyond Candlesticks: New Japanese Charting Techniques Revealed (Wiley Finance)

Sample text

This doji is known as a gravestonedoji. It is said that those who buy at a high price level after this doji will die and become ghosts. (Thosefamiliar with candle patterns will note how this doji was part of a classic evening doji star pattern [this pattern is discussedin Chapter 3l). 41 shows how the small real bodies at 1 and the doji at 2 warned that the market was losing its upside drive. After trading in a lateral range for a few weeks, prices ascendedto new highs in late ]anuary. However, there were two clues that the rally might not be sustainable.

While the doji can mean the market may reverseits prior trend, traders should view the doji as echoing a market in transition rather than being an outright reversal pattern. Based on this, traders should wait until the next sessionor two after the doji to show them which way the market will move. If there is a doji during a rally, and if the market continues strong after this doji, it is a bullish indication sincethe market has resolveditself from the state of transition (as shown by the doji) to its new trend-up.

38(8), if the market just started to rise, it indicates there is less of a chance that the market is at a top. 38(C)we see how the emergenceof a doji after a precipitous decline could mean a bottom. 38(D)displays a market that has just begun to fall. In this scenario,prices may continue their descenteven after a doji. 38 is that doji become more important as a reversal signal the more overbought or oversold the market. 39,we notice a rally that startedin early November stalled after two doji following a tall white candle.

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