Candlestick Charting Explained: Timeless Techniques for Trading Stocks and Futures

by Gregory Morris

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Product Description

Master this powerful trading system and identify the best trades

Inside this book you will discover candlestick charting, one of the most popular tools in technical analysis. Candlestick Charting Explained features updated charts and analysis as well as new material on integrating Western charting analysis with Japanese candlestick analysis, grouping candlesticks into families, detecting and avoiding false signals, and more.

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All Customer Reviews
Average Customer Review: 4 out of 5 stars

0 of 0 people found the following review helpful:

1 out of 5 stars

Rubbish! DO NOT BUY THIS BOOK!, 2010-02-12
This is one of the most poorly written technical books of any kind that I have ever read. I am quite sure that the author is fully conversant with candlestick charting. He is, however, not fully conversant with the English language and the demands of clear and concise writing.

The problems with this book are numerous. Here are the highlights:

1. Organization of book is incomprehensible and as useful as...well...you know. There is no rhyme or reason to the overall organization of the book.

2. General writing issues abound. I can barely find a coherent paragraph. Any good writer of technical material should understand the way in which people read, comprehend, and retain technical information. This author does not. Come on..the 3rd edition? This would imply the book has been edited. It has not.

3. The author sometimes describes something and then appears to contradict previous information. Again, I think this was an issue of no one of any competence as an editor actually read this book.

4. References to Nison and bar charts??? I bought this book I really did not buy it to hear what Nison had to say in his book. Otherwise I would have purchased Nison's book. Hmmm maybe I will now. Bar charts. The author seems to have a chip on his shoulder in that he constantly defends the superior quality of candlesticks over bar charts. I don't care. I did not buy this book to hear about the disadvantages of bar charts. I only need to know about candlestick charts.

5. The author routinely resorts to using technical jargon without defining the jargon. He assumes that you know all of the "buzzwords" he is using. I am sure that all of his friends nod in admiration when he speaks at parties but such pompous use of jargon in a book that he is selling is unforgivable.

6. The book is full of typos, format errors, capitalization errors, and punctuation errors.

What is also unforgivable is that the publisher let this piece of rubbish go to press without so much as one critical read of the material.

I did buy the Kindle version of this book, I hope I can return it. All I can think of is that if I had at least purchased the hard copy, I would have paper to start the fireplace on a cold winter's night.

So. Take a stand for literacy! Do not buy this book until they actually publish something that has been edited by a professional and competent technical editor.

0 of 1 people found the following review helpful:

5 out of 5 stars

Trading more confidently through an understanding of charting, 2009-12-05
I certainly appreciate the many hours these authors have taken to bring to me this work of historical and philosophical signifiance and interaction. Not a read for entertainment, but if technical analisis is your thing you will enjoy this work and keep it as I do for reference.

2 of 2 people found the following review helpful:

5 out of 5 stars

For the serious trader, 2009-11-14
This 513 page large format softcover book thoroughly explains candlestick analyses of stock and commodity activity charts. It is not a book you can read over the weekend and begin using Monday. It requires serious study. The author dedicated much energy in learning about this form of market analysis that originated in Japan over a hundred years ago, and even traveled to Japan to interview master traders who utilized the method. From the preface: "This is a book that not only covers the basics, but offers more detail into exactly how to identify and use the patterns." It does.

2 of 4 people found the following review helpful:

3 out of 5 stars

Systematizing candlesticks, 2009-08-21
Gregory L Morris is regarded as one of the gurus in the use of candlesticks in charting of stocks. The book is an excellent review of the different types of candlestick patterns. However, he makes the incredible statement on page 316: "With computers there is no way to handle the subjectivity that classic chart reading offers". This turned out to be nonsense, as Chapter 10 of the 3rd edition is devoted to the computerisation of candlestick patterns by Ryan Litchfield. Candlestick patterns had achieved a poor reputation because of such subjectivity. On the other hand, Litchfield states on p 392: " Candlesticks have been allowed to proliferate without proper perspective". Litchfield then systeamtically sets out to provide some perspective. He then commercialized his work, which can be seen on www.candlepower6.com. There are other sites which offer similar services including that provided by another candlestick guru Steve Nison www.candlecharts.com. Certainly the latter part of this book attemtps to overcome the poor reputation of candlesticks because of subjectivity of interpretation.

1 of 1 people found the following review helpful:

4 out of 5 stars

Candelsticks Enhance (But Don't Replace) Other Analysis Techniques, 2009-07-08
If you're already familiar with candlestick analysis, you'll still benefit from this book. The decomposition of multi-day charts, as well as the sentiment behind the indicators, was enlightening. The key take-away for me was to consider candlesticks an enhancement to other technical anaylsis, proving most valuable as sentiment indicators near support and resistance points. The added chapter for traders, authored by Litchfield, refined the data from prior chapters.

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