Candlesticks are everywhere now. Twenty years ago, they were non-existent. They have taken over all of the major trading and charting services and applications. This visual representation of those 4 data points has been in use in Japan, going back hundreds of years, unknown to the western world. It is widely recognized that this changed through the work of Steve Nison , with his book that came out in called Japanese Candlestick Charting Techniques.
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You can change your ad preferences anytime. Greg morris candlestick charting explained. Upcoming SlideShare. Like this presentation? Why not share! Japanese candlesticks charting tech Embed Size px. Start on. Show related SlideShares at end. WordPress Shortcode. Full Name Comment goes here. Are you sure you want to Yes No. Register now for a free report. Go here to experience this majestic sound gifted to us from a "higher plane. Here's How. Show More. Chai Lor. Marcelo Dias.
Prapakorn Chaisri. Rodrigo Linhares. No Downloads. Views Total views. Actions Shares. Embeds 0 No embeds. No notes for slide. Greg morris candlestick charting explained 1. I am a collector of first editions of books.
My specialties include astron-omy texts written before , such as Percival Lowells classic Mars, thefirst published speculations about the possibility of life on the red planet which inspired Jules Verne to write The War of the Worlds , and a strangelittle tome from that claims astronomer William Hershel spottedsheep on the Moon with his telescope. My collection also includes about business books written by au-thors I have interviewed through the years.
But my sentimental favorite is a beat-up old chart book of the DowJones Industrials and Transportations Averages going back to December18, , the day the modern Dow Jones averages were born. Triviaquestion: Where did the Dow Industrials close after its very first day oftrading? Answer: Back then, the Industrials only had 12 compo-nents, and the Transports, with 20 issues, were known as the Rails. A year-old FNN viewer from Virginia offered it to me in the fall of Foreword Foreworddepression which was a tempering influence against excessive enthusi- I remember the first time I interviewed a technical market analyst inasm.
This "At age 90 my activities are confined to growth stocks and safe analyst spoke of day and week market cycles and head-and-shoulderinvestments. I am no longer interested in speculation. I thought it was so much mumbo-jumboI would be interested in his chart book. I gladly accepted in exchange for a signed copy of one fundamental analysts were still bemoaning the depths of the recession thatof Joe Granvilles books. That was when I realized the technicians The book was published in by Robert Rhea, the famed disciple of may have something there.
Charles Dow and of the oldest form of technical analysis, the Dow Theory. He doesnt know it, but Greg Morris taught me a lot about technicalIt covers the years , with each page devoted to one years analysis.
Or, more accurately, his N-Squared software did. For a coupletrading of both averages. Its heavy cardboard covers are held together by a couple of I used N-Squared to build charts and draw trendlines. I hadnt yet learnedrusty screws. I browse through it once in awhile, marveling at its simplicity. Each The slow, painstaking process gave me a hands on, almost organic, feeldays closing value is designated by a single horizontal hash mark meticu- for the markets.
And watching various repetitive chart patterns unfold onlously notched on the graph paper. Nothing fancy. No intra-day highs and the computer screen was a great lesson about supply and demand andlows, no trendlines, no points or figures; just a simple daily record of the about market psychology.
I think I understand how technical analysis works. Its the why that There is the market panic in December of , when the Industrials still puzzles me. I understand the supply and demand implications ofplunged from 76 to 58 in just 13 trading days. Eerily, half the page But I still marvel at what ultimately makes technical analysis work:devoted to that year is blank.
The market is tired, they say. Or theber 3 at Or the market always knows the The book means a lot to me. Between its covers there is a bit of news before the newspapers do. It has taught me much about a discipline that I once considered which I suggest American technicians tend to ignore. Technical analysis voodoo. But too many analysts have a Good journalists are supposed to maintain an open mind about the mathematical blind spot, and I blame that on computers.
Yes, charts rep- stories they cover. Political reporters, for example, should be neither Re- resent numerical relationships. But they also depict human perceptions publican nor Democrat. And successful financial reporters should avoid and behavior. And they should also be familiar with both Enter Sakatas Candlesticks, which combine the highly quantitative fundamental and technical analysis.
ForewordJapanese philosophy. Greg Morris has more than ably turned his attentionto this fascinating charting style with this book. It occurs to me that Japanese Candlesticks are the perfect form oftechnical analysis for the 90s.
I happen to agree with authors JohnNaisbett and Patricia Aburdene. In their bestseller Megatrends , theywrite that were headed for the age of spirituality. It wont necessarily bean overtly religious period, mind you, but rather one subtle, intuitivepower we may all develop that allows us to sense things before theyactually happen.
It will be a period that embraces a kind of hybrid Easternphilosophy and Western practicality without all the New Age hocus-pocus. Just right for Candlestick analysis. The system is precise and exacting,but it charms with its haiku-like names for chart patterns: "paper um-brella," or "spinning tops," for example. But Ill let Greg Morris tell the story from here. I just hope my Japanese candlestick charting and analysis is definitely a viable and effecyear old friend is still around to read it.
I think he would like it. That is a bold statement, especially when you consider the universe of analysis techniques that are being promoted, offered, sold, used, abused, and touted. Other than Nisons work, the only problem has been the lack of detailed information on how to use and identify them. Not only will this book solve this problem, but it will also provoke an intellectual curiosity in candlesticks that will not easily disappear. Japanese candlesticks provide visual insight into current market psy- chology.
There is no ancient mystery behind Japanese candlesticks, as some promoters would have you believe. They are, however, a powerful method for analyzing and timing the stock and futures markets. That they have been used for hundreds of years only supports that fact.
When candlesticks are combined with other technical indicators, market timing and trading results can be enhanced considerably. It is almost regretful that this sound analysis technique was introduced to the West using the word "candlesticks" instead of some more appealing or appropriate terminology, such as Sakatas Methods or Sakatas Five Methods.
If candlesticks Western debut had focused on the uncovering of an ancient Japanese analysis technique called Sakatas Methods, I believe their acceptance would have been quicker and more widespread.
None of 5.
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