By Russell Rhoads

ISBN-10: 0470178086

ISBN-13: 9780470178089

Are looking to achieve a buying and selling area with candlestick charts? locate them a bit complicated? No concerns! Candlestick Charting For Dummies sheds gentle in this time-tested strategy for locating definitely the right second to shop for or promote. It demystifies technical and chart research and provides you the instruments you want to determine buying and selling styles — and pounce!

This pleasant, sensible, consultant explains candlestick charting and technical research in simple English. very quickly, you’ll be operating with universal candlestick styles, reading buying and selling styles, predicting industry habit, and making your smartest trades ever. You’ll detect the benefits candlestick has over different charting equipment and study the secrets and techniques of mixing it with different technical signs. You’ll additionally get conversant in alternative ways to reveal and interpret fee motion, together with pattern strains, help degrees, resistance degrees, relocating averages, and intricate signs. notice how to:

  • Construct candlestick charts
  • Identify and interpret easy patterns
  • Trade in bull and endure markets
  • Work with complicated styles and indicators
  • Avoid fake signals
  • Understand the parts of marketplace activity
  • Deal with bullish or bearish single-stick, stick, and multistick patterns
  • Identify and interpret complicated patterns
  • Use signs to figure out the market
  • Outperform the marketplace in any conditions

Don’t comprehend no matter if to snatch the bull by means of the horns or simply grin and endure it? learn Candlestick Charting For Dummies and get it correct the 1st time.

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Additional info for Candlestick Charting For Dummies

Example text

If a security opens at a certain price and then drops in price steadily throughout the course of the session, you won’t see any wick at all extending above the candle. If, on the other hand, the security opens at a certain price and increases in price during the session without ever dropping below the open, you won’t see any wick extending below the candle. How low (or high) can you go? Deciding on a high and low price As with opening prices, high and low prices can be tough to nail down because of the various electronic trading venues operating today.

This is actually how the commodity markets function. The stock market, or at least the floor of the New York Stock Exchange (NYSE), is more like a giant bank lobby with each stock having a particular place or post where transactions for that stock take place. The person in charge of manning this post is known as the specialist, and his job is to facilitate trading of a particular stock between the multitudes of buyers and sellers in an orderly manner. A specialist takes all the buy-and-sell orders and attempts to match them up.

Volume In trading lingo, volume is the number of shares traded during a certain period of time. A volume measurement usually appears in the bottom quarter to bottom third of a chart. Figure 3-3 is a chart of Google showing roughly 60 days leading up to July 19, 2007. In the bottom of the chart in Figure 3-3, daily volume for Google’s stock has been between 1 and about 11 million shares per day during this period. Notice the second trading day in July, which was July 3, just before a midweek Independence Day holiday.

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Candlestick Charting For Dummies by Russell Rhoads


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