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.
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Liz:
This book boils things down; it shows what works and what doesn’t. You don’t have to pay nearly five times what you’d pay for this, and not even use half of a half of what you read in the padded book. This book provides great explanations of candles that have the most force in the market.
Any mistakes that were in the book must’ve been rectified; I looked through the pages that were supposed to have mistakes on them, but they were perfectly fine.
31 October 2010, 11:02 pmSteve:
There are great references for candlestick usage to be found, for those knowledgeable about the subject (www.stockcharts.com) is one of the other sites out there with good information. It may be a great introduction to the topic. I suggest Steve Nison’s Candlestick Charting course if you want a good firm grasp on it – Mr. Nison is a guru of candlesticks, held by many in high regard.
31 October 2010, 11:03 pmEXCALiBUR:
Any trader should know twenty-one distinct candle patterns by name, and at least be familiar with the full one-hundred; if you know their names, then it is easier to spot and use them. When it really comes down to it, if you can pull the names of the candle patterns out of your mind where other traders can’t, you’ll be quicker, giving you the jump on them…a distinct advantage. This I would say is as good as Mr. Steve Nison’s candlestick work.
31 October 2010, 11:03 pm