The Secret of Candlestick Charting: Strategies for Trading ... - Amazon
| Feature | Bar Chart | Candlestick Chart | | :--- | :--- | :--- | | | A vertical line with a left/right tick. Shows OHLC but requires mental interpretation. | A "body" with upper and lower "wicks/shadows". Instantly shows if the Open or Close was higher. | | Market Sentiment | Requires calculation to determine if buyers or sellers won the period. | A clear colored body : A white/green body shows buying pressure (Close > Open). A black/red body shows selling pressure (Open > Close). | | Pattern Recognition | Difficult to identify specific patterns like "Doji" or "Engulfing" without recalculating the data points. | Visually intuitive . A "Doji" is instantly a cross shape. "Bullish Engulfing" is a large green body consuming a small red body. | | Best for... | Precise plotting of price levels and volatility. | Fast visual analysis of market sentiment and spotting reversal or continuation signals quickly. |
The Secret of Candlestick Charting by Louise Bedford Category: Technical Analysis / Finance / Trading Key Takeaway: Bridging the gap between ancient Eastern technical analysis and modern Western trading psychology. The Secret of Candlestick Charting Louise Bedford.pdf
Before diving into the book's secrets, it is helpful to understand the fundamental difference between the tools Bedford discusses. Most traders start with standard bar charts or line charts. However, Bedford argues that candlestick charts offer a superior visual representation of market psychology because they encapsulate four key data points in a single, easy-to-read shape: the .
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While there are countless books on candlesticks, "The Secret of Candlestick Charting" by Louise Bedford is frequently singled out for several reasons:
AI responses may include mistakes. For financial advice, consult a professional. Learn more | A "body" with upper and lower "wicks/shadows"
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