Japanese Candlesticks

Japanese candlesticks is such an extensive topic in the trading-related literature that it deserves its own category here. It’s the modern charting standard in many markets to represent the price changes with the Japanese candlesticks. Books on them often try to describe the popular patterns formed by the candles, provide some statistics on such patterns or feature some advanced strategies that are based on Japanese candlesticks.

Profiting in Forex by Steve Nison — Free Download

Profiting in Forex is actually a set of presentational slides by Steve Nison that explain how to use the candlesticks to catch the next move on the Forex market. It’s done in a very descriptive manner — all slides are very easy to read and understand, while each of them consists of a complete thought or advice about trading. The e-book covers all sorts of topics connected with candlestick trading. It’s a real practical manual without any theoretical lectures. You will find out the best-working patterns specifically for Forex market and you will also find out what patterns rarely work in Forex. I consider this e-book a real treasure for all those Forex traders that like me don’t like to use multiple indicators and prefer bare charts. The end chapter of the book is a bonus — «Steve Nison’s Forex Trading Lab», where the series of chart pattern examples are given in a question and answer type of study.

Beyond Candlesticks by Steve Nison

Beyond Candlesticks — New Japanese Charting Techniques Revealed is trading book by Steve Nison that follows his previous works Japanese Candlestick Charting Techniques and The Candlestick Course and goes deeply into the candlestick patterns and supporting methods and techniques. In this book author continues to view the Japanese candlestick charts as the best map of the market situation a trader can use, but it proposes not to limit oneself with the basic patterns and move on to applying other price charts techniques to the usual trading. The book features the basics on candlesticks, the patterns, the summarization of the candlestick patterns and charts, moving averages and the candlesticks, three-line break charts, Renko charts and Kagi charts. Recommended if you are fan of the Japanese candlestick charts and want to learn new ways of interpreting.

21 Candlesticks Every Trader Should Know by Melvin Pasternak

21 Candlesticks Every Trader Should Know is both the learning book and the handbook in one. First, it will teach you how to interpret the Japanese candlestick charts, where to spot anticipation patterns, why it works at all and the basic rules of trading with the patterns. Second, it thoroughly describes 21 candlestick patterns that allow Forex (and not only Forex) traders to perform profitably on any type of markets — ranging, trending or a sideways saw. It starts off with the easy and popular chart patterns — such as doji stars and inverted hammers and finishes with some rather exotic candlestick patterns as black crows or harami. The exceptionally good thing about this book is that it doesn’t contain any extra information, it’s not very long and you can always keep it somewhere near your trading workplace to consult it when you spot some interesting chart pattern.

Japanese Candlestick Charting Techniques by Steve Nison

Japanese Candlestick Charting Techniques is a first book of Steve Nison (a second book is also available) — a man who did a lot to the popularization of the candlestick trading in the financial markets. This book introduces readers to the candlestick patterns, candlestick technical analysis and various issues regarding the Japanese candlesticks that are at least quite interesting to read. The first part of this book presents the methods of reading and interpreting more than 50 different candlestick chart bars and patterns. The second part describes how to combine the tradition Western technical analysis with the power of the candlestick patterns analysis. All candlestick patterns and techniques are supported with the graphical examples. The examples of the market behavior with a pattern analysis for the given period will also help the readers to understand how the candlestick analysis works.

Candlesticks, Fibonacci and Chart Pattern Trading Tools by Robert Fischer and Jens Fischer

Candlesticks, Fibonacci and Chart Pattern Trading Tools reveals the strategy that according to the authors of this book is capable of improving trader’s performance, reducing his risk and increasing his profits. Trading tools are used with conjunction with many vital rules that are explained throughout the book. Any signal should be produced and executed with the extreme precision and accuracy. Not only the candlesticks, Fibonacci levels and various chart patterns should be considered valid systems, but other approaches may be added. One trading approach should be applied to more than 5 various trading products to reach the desired diversification level. Stop-loss, as well as the planned profit target, is a crucial part of any trading signal. A given trading approach should only be used in the appropriate market conditions.

The Candlestick Course by Steve Nison

The Candlestick Course is a handbook of candlestick chartist. And if you are not the one, after reading the book you’ll probably become a devoted follower of Japanese candle charting and trading. According to Steve Nison candlesticks display the current demand and supply situation on the market, show trends better than the common bar charts. According to the author, trading signals (especially reversal signals) are depicted better and recognized easily using the candlestick charting. The good news for all bar traders is that common bar patterns popular in the Western trading style can easily be transferred to candlestick charting. This course will help you determine the patterns on any type of market — commodities, stocks, Forex, bonds etc. Any timeframe can be targeted with candlesticks — from a 1 minute Forex scalper’s trading to the long-term weekly charts of the government bonds.

Profitable Candlestick Trading by Stephen W. Bigalow

Profitable Candlestick Trading is another trading book about Japanese candlestick trading. Like the others presented here it extensively explains the candlestick patterns and their usage in technical analysis. Stephen Bigalow is thoroughly convinced that the candlestick charting significantly surpasses the all other methods of technical analysis. Japanese candlesticks are the effective tool to extract the profits from all kinds of markets. The only thing that should be done to use this method successfully is to gain the understanding how the candlestick signals work. The educated trader should know not only how certain signal formed by candlestick pattern looks like, but also the inner logic of the reasons that formed this signal. The main idea of the book is that the signals are created by the change in the investor sentiment, thus understanding the signals gives you an advantage before the investors en mass.

Candlestick Charting Explained by Gregory L. Morris

Candlestick Charting Explained — this book can be considered a holy book of the candlestick chartists. Despite its author confusing Jules Verne with H. G. Wells in the preface to this book, he knows a lot about candlestick patterns and all possible ways of their recognition. Japanese candlesticks are one of the simplest and yet powerful methods of technical analysis. The only problem that they bring to the chart analysis is the pattern recognition. Gregory Morris believe that recognizing the candlestick patterns is not that difficult and can be brought down to limited set of known patterns that must be applied minding the current market context. The book gives extensive examples for every chart pattern; the strength of each pattern is also described in accordance with other patterns. Pattern combinations are shown and explained too.

17 Money Making Candle Formations

17 Money Making Candle Formations — a Forex book that describes 17 most recognized Japanese candlesticks patterns in Forex charts. Japanese candlesticks are one of the oldest and fundamental ways of representing the trading data on all sort of charting software. Japanese candlesticks are made two parts — body and shadow. Body is the difference between the open and close prices. The rising candle’s body and the falling candle’s body are of the different colors. The candlestick can have two shadows — one is the difference between open and high values for the period (open and low for the rising candle) and the other one is the difference between close and low values for the period (close and high for the rising candle). Various combinations of candles’ body and shadow sizes can be considered as the strong indicators of the current market situation and are widely used by professional Forex traders. This Forex book will show you some of the most interesting candlestick formations and will teach you how to use them on Forex market.