By Felipe Tudela
An easy advisor for utilizing jap candlesticks appropriately, and profitably
Candlesticks have got loads of recognition in recent times, yet few investors really know the way to take advantage of them properly and profitably. with out the correct context, candlestick charting will not paintings. during this ebook, technical research professional Felipe Tudela stocks candlestick writer Sokyu Honma's nice marketplace Cycle idea. With the good industry Cycle, candlesticks demonstrate their strong and easy good judgment and provides investors the perception and context they should use them effectively. utilizing those insights, readers can be capable of alternate every one marketplace section based on his or her personal own strategy.
Felipe Tudela (Paris, France) is a researcher and expert in technical research, in addition to President of the heart of economic study in Paris.
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Extra info for The Secret Code of Japanese Candlesticks (Wiley Trading)
The thrust shows itself in a bar chart of a very long range. As indicated previously, examples of thrusts have been used in Western trading by masters like William Dunnigan, George Bayer, or Richard Wyckoff. Thrusts are one of the best and more powerful entries that we can consider when trading the long or the short side of markets. This is why our buying rule for San Sen is to wait for a long range or thrust to occur after our triple bottom. This confirms that the triple bottom that we are trading belongs to the past and that the market has truly changed direction.
Tops are made when markets change from a trend to a consolidation. In itself, a top does not represent a turning point or a reversal of the entire trend. Generally, a top is exceeded and the former trend continues. This is the case for most single tops that are simply swing peaks before normal reactions within a trend. A simple or double top is not enough to reverse a trend, although they sometimes do. A double top, or its variation, the head and shoulders, appears when the market changes from trending to nontrending and begins to test itself.
As we have seen, that is the first method to apply if one really wants to succeed in the market. This is such an important matter that, later in this book, we will devote further thought to it. At the moment, it is sufficient to say that this trading algorithm should never be used alone. 1. The five phases of market structure Phase of market Method Rule Conditions required Candlesticks San Zan Selling a triple top Selling a very long range at the close Very long black Marubozu or three black crows San Sen Buying a triple bottom Buying a very long range at the close San Ku Buy/sell a gap Buy/sell the close of the last gap San Pei Buy/sell a trend Buy/sell the close of the third consecutive time/price unit San Poh Buy/sell a correction Buy/sell the breakout from the range of the time/price beginning in the direction of the main trend Triple top + at least 3 ascending gaps, consecutive and non-intersected from the previous ascending trend Triple bottom and at least 3 descending gaps, consecutive and non-intersected, from the previous downtrend Three (or more) consecutive, non-intersected gaps from the previous trend Trend defined following a triple top/bottom and 3 consecutive and non-intersected gaps from the previous trend Three time/price units correction contained within the original price/time unit Very long white Marubozu blanc or three white soldiers Marubozu or three white soldiers or three black crows Three white soldiers or three black crows Three ascending methods and three descending methods THE BUILDING BLOCKS OF OUR ALGORITHM We can see that our tabular algorithm has five methods, the five Sakata methods, but with additional elements that help to confirm their validity.
The Secret Code of Japanese Candlesticks (Wiley Trading) by Felipe Tudela