Japanese Candlestick Charting Techniques: A Contemporary by Steve Nison

By Steve Nison

Conventional Western equipment for chart research (the foundation of all technical analyses) use bar or issues and determine charts. but over a hundred years sooner than those equipment originated, the japanese have been utilizing their very own sort of technical research to be used within the rice futures industry. this system - often called the japanese Candlestick Charting options due to its shut resemblance to candlesticks - has lately been attracting realization since it presents distinctive insights into the industry. This paintings beneficial properties over three hundred charts that use candlesticks by myself and together with Western charting concepts, and explains their use.

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By Steve Nison

Conventional Western equipment for chart research (the foundation of all technical analyses) use bar or issues and determine charts. but over a hundred years sooner than those equipment originated, the japanese have been utilizing their very own sort of technical research to be used within the rice futures industry. this system - often called the japanese Candlestick Charting options due to its shut resemblance to candlesticks - has lately been attracting realization since it presents distinctive insights into the industry. This paintings beneficial properties over three hundred charts that use candlesticks by myself and together with Western charting concepts, and explains their use.

Show description

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Additional info for Japanese Candlestick Charting Techniques: A Contemporary Guide to the Ancient Investment Techniques of the Far East

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L= . 34.

In this sense, the open provides an early view of the battlefield and a provisional indication of friendly and opposing troops. At times, large traders may try to move the market on the open by executing a large buy or sell order. Japanese call this a morning attack. Notice that this is another military analogy. The Japanese use many such military comparisons as we shall see throughout the book. CANDLESTICK TERMINOLOGY AND MARKET EMOTION Technicals are the only way to measure the emotional component of the market.

The bears are watching the market with contentment. Then the market surges toward the close, managing not only to close unchanged from the prior day's close, but sharply above that level. The bears will be second guessing their position. Those who are looking to buy would say new lows could not hold and perhaps it is time to step in from the long side. The piercing pattern signal increases in importance based on the same factors (1) through (4) as with the dark-cloud cover, but in reverse. ) In the section on the dark-cloud cover, I mentioned that although some Japanese traders like to see the black real body close more that midway in the prior white candlestick, there is some flexibility to this rule.

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