Candlepower: Advanced Candlestick Pattern Recognition and Filtering Techniques for Trading Stocks and Futures

Morris, Gregory L.

ISBN 10: 1557384584 / ISBN 13: 9781557384584

Published by Probus Professional Pub, 1992

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Bibliographic Details

• Title: Candlepower: Advanced Candlestick Pattern Recognition and Filtering Techniques for Trading Stocks and Futures
• Publisher: Probus Professional Pub
• Publication Date: 1992
• Language: English
• ISBN 10: 1557384584
• ISBN 13: 9781557384584
• Binding: Hardcover
• Condition: new

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Synopsis

Of the many current market indicators used by investors, Japanese "candlesticks," which have been used for many centuries in Japan, have emerged as a powerful method for trading strategies in the Western market. Although Japanese candlesticks are similar in many respects to conventional charting techniques, they provide a great deal more information about the markets' underlying psychological conditions.
Author Gregory L. Morris shares his experience spent in Japan studying Japanese candlestick analysis in his new book, CandlePower: Advanced Candlestick Pattern Recognition and Filtering Techniques for Trading Stocks and Futures. As Morris delves into the theory, interpretation and application of Japanese candlestick charting and candle pattern analysis, he shows how candlesticks can be used to identify trends, continuation patterns, reversal patterns and tops and bottoms. He also integrates candle pattern analysis with conventional technical analysis tools such as oscillators and relative strength. After defining the inner workings of Japanese candlesticks, Morris applies a rigorous statistical test of candlestick patterns to determine their usefulness in trading.
CandlePower takes a direct approach to a new and exciting dimension of technical analysis. It addresses the basics, but at the same time it explains in detail how to identify and use the candlestick patterns. Morris demonstrates what is perhaps the single most important attribute of candlesticks: how candle patterns can be used as a filter, in conjunction with other technical tools, to identify high reward, low risk trades.
The best book on candlesticks written to date, CandlePower is destined to become the definitive text on this time-honored trading method.
Specific topics include reversal and continuation patterns, philosophy of candle pattern identification, reliability of pattern recognition, candlestick filtering, and derivative charting methods.