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Time your trades more accurately and reliably! The secret is to combine western technical analysis with eastern candlestick methods. In Profiting from Technical Analysis and Candlestick Indicators, top trader and best-selling author Michael C. Thomsett shows you how. Using more than 100 easy-to-understand visuals, Thomsett explains why candlesticks complement traditional resistance/support-based analyses rather than contradicting or competing with them. One step at a time, you'll learn how to use them together to identify crucial reversal and confirmation signals more rapidly and reliably. You'll learn how to use each system to gain cross-confirmation and strengthen the reliability of your predictions; uncover reversal signals in both systems; forecast pricing; recognize signal failures and false leads; profit from swing trading; and reduce risk. Profiting from Technical Analysis and Candlestick Indicators will be valuable to wide audiences of professional and institutional investors, experienced individuals or institutional portfolio managers, and all experienced traders who use technical analysis for guidance.
Introduction: The Self-Fulfilling Prophecy 1
Chapter 1: Charting Techniques--Predicting the Future 5
Chapter 2: Traditional Analysis--The Power of Pattern Recognition 17
Chapter 3: Candlestick Patterns--Recognizing Evolving Strength or Weakness 47
Chapter 4: Reversal Signals--Spotting the Turning Point 79
Chapter 5: Continuation Signals--The Mid-Trend Signs 91
Chapter 6: Combining West and East--Candlesticks and the Technical Signs 105
Chapter 7: Confirmation--An Essential Second Part of a Signal 117
Chapter 8: Support and Resistance--Key Price Points in the Trend 135
Chapter 9: Moving Averages--Finding Statistical Correlation 157
Chapter 10: Volume Indicators--Confirmation of Price 171
Chapter 11: Momentum Indicators--The Exhaustion Point 191
Chapter 12: Signal Failures and False Indicators--The Misguiding Signal 207
Chapter 13: Beyond the Signal--Candlestick Pattern Moves 227
Chapter 14: Risk Reduction Methods--Using Charting Techniques to Manage Risk 259
Appendix A: Hypothesis Summary 265
Appendix B: Hypothesis Testing 269