Japanese Candlestick Charting: A Contemporary Guide to the Ancient Techniques of the Far East
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Here at last, the background and practical application of the unique and powerful Japanese charting techniques--known as candlestick charts--are fully explained for the first time. These colorful and exciting techniques are hot on the lips of leading analysts and traders worldwide. The overwhelming response to the author's first Japanese candlestick article in Futures magazine, interviews of him by the Wall Street Journal and the L.A. Times, and numerous television appearances, in addition to the many charting services now offering candlestick programs to their clients, have all made it apparent that a comprehensive explanation of candlestick charts is sorely needed. Here it is--an inside look at the technical tools refined by over 100 years of use in Japan. Candlestick charts are older than bar charts, older than point-and-figure charts, and yet, they are virtually unknown in the West--until now. Completely informative and global in its outlook, Japanese Candlestick Charting Techniques provides the first -in-depth explanation of candlestick plotting and analysis in English. This exciting book exposes the reader to the author's years of study, research, and practical experience in this increasingly popular and dynamic area. Hundreds of examples that span the futures, fixed-income, equity, and foreign exchange markets show how candlestick techniques can be used in all of today's markets. Through such patterns as the "dark cloud cover" and "hanging-man lines" the reader will discover how candlestick techniques provide unique market insights that are unavailable anywhere else.
PrefacevAcknowledgmentsviiAbout the AuthorxiChapter 1Introduction1What's New in This Book2Why Have Candle Charting Techniques Captured the Attention of Traders and Investors Around the World?2Who Is This Book For?4Some Background5What Is in This Book?7Some Cautions8The Importance of Technical Analysis11Chapter 2A Historical Background15Part 1The Basics21Chapter 3Constructing the Candlestick Lines23Drawing the Candle Lines25Chapter 4Reversal Patterns31Umbrella Lines32Hammer34Hanging Man38The Engulfing Pattern42Dark-Cloud Cover49Piercing Pattern55Chapter 5Stars61The Morning Star62The Evening Star66The Morning and Evening Doji Stars70The Shooting Star and the Inverted Hammer74The Shooting Star75The Inverted Hammer77Chapter 6More Reversal Patters81The Harami Pattern82Harami Cross83Tweezers Tops and Bottoms87Belt-Hold Lines93Upside-Gap Two Crows95Three Black Crows97Three Advancing White Soldiers99Three Mountains and Three Rivers103Counterattack Lines109Dumpling Tops and Frypan Bottoms114Tower Tops and Bottoms119Chapter 7Continuation Patterns125Windows126Tasuki134High-Price and Low-Price Gapping Plays136Gapping Side-by-Side White Lines139Rising and Falling Three Methods142Separating Lines150Chapter 8The Magic Doji155The Northern Doji (Doji during Rallies)158The Long-Legged Doji (Rickshaw Man), the Gravestone Doji, and the Dragonfly Doji161The Tri-Star170Chapter 9Putting it All Together173Part 2Convergence181Chapter 10A Cluster of Candles187Chapter 11Candles with Trend Lines193Springs and Upthrusts199The Change of Polarity Principle205Chapter 12Candles with Retracement Levels213Chapter 13Candles with Moving Averages217The Simple Moving Average217The Weighted Moving Average219The Exponential Moving Average219Using Moving Averages219Chapter 14Candles with Oscillators225The Relative Strength Index226Computing the RSI226Using the RSI227Moving Average Oscillator229Computing the Moving Average Oscillator229Using the Moving Average Oscillator229Stochastics233Computing Stochastics234Using Stochastics234Moving Average Convergence-Divergence237Constructing the MACD237Using the MACD237Chapter 15Candles with Volume241Chapter 16Measured Moves249Breakouts from Boxes250Swing Targets, Flags, and Pennants255Chapter 17The Best of the East and West: The Power of Convergence263Conclusion267Glossary ACandlestick Terms and Visual Dictionary269Glossary BWestern Technical Terms279Bibliography285Index289
