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#1
21st September 2005, 03:03 PM
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Candlestick Chart Analysis
Anyone having idea doing candlestick chart analysis. This analysis is gaining strength with western TAs as this is only practice that does forward analysis as all other TAs use EODs and do what has happened. They are not predictive.
Where as candlestick chart analysis guides you about what to come. This was developed by a japanese rice future trader some 400 yrs back. If someone has any practical expereince using it can share ideas,views,tools,books etc. 
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#2
21st September 2005, 06:13 PM
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Re: Candlestick Chart Analysis
I Have Purchased One Basic Book Candle Stick Charting Explained
It Is Very Good For Beginners Covered All Aspests Of Basic Candle Stick Formations Author Is Gregory.l.morris Published By Vision Books Cost 280/- (one Year Back)
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#3
21st September 2005, 08:04 PM
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Re: Candlestick Chart Analysis
Quote:
It will definately give good returns. Best Wishes.
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#6
22nd September 2005, 10:27 PM
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Re: Candlestick Chart Analysis
Quote:
Best wishes
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#7
24th September 2005, 12:23 PM
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Re: Candlestick Chart Analysis
Quote:
Those Who are really ineterested in candlesticks can go for Steve Nison's book : http://www.candlecharts.com/private-...-brochure.html Books Name Are Given in that .. Worth Giving a Try !! Steve Nison is one of the best in CandleStick Charting. Regards.
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#8
24th September 2005, 12:58 PM
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Re: Candlestick Chart Analysis
Dear All,
I have been using the candlestic charts for last 2/3 years now and have found it visually more attractive. 1.0 I find it allows me to understand whether on a particular day there were more bulls or more bears. 2.0 One should look for a 3 day formation and a confirmation of the formation from some other Tech Chart method like Stochastic,Williams R,or other Trend reversal methods before coming to any conclusion. 3.0 I am also a learner in this ,but I have not been able to predict the course of a share from Candle chart alone ,ihave to use other methods to do that. 4.0 One can try www.stockcharts.com site and look into chart school to gain more insight into this. 5.0 www.dlngroup.com gives charts in candle stic forms and also identifies any major candlestic formations. My best luck and happy learning. Jayant Naik Last edited by jnaik22 : 24th September 2005 at 01:02 PM. Reason: Spelling Errors
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#9
11th October 2005, 07:50 PM
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Re: Candlestick Chart Analysis
BULLISH PATTERN
This pattern signals continuation. You can identify it from the following points: The first day is a long white candle. The second day is a black candle, which gaps above the first day. The third and fourth days are small body candles that open and close within the range of the first day. The fourth day is a long white candle, closing within the range of the four previous candles. Psychology: Bears may conclude that a reversal will not occur and bulls will bide their time. This is a bullish trend which will continue for the next few days.
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#10
11th October 2005, 09:09 PM
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Re: Candlestick Chart Analysis
See attached images
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