Japanese Candlesticks

Resources: As I have said many times before, becoming good at reading candlesticks takes time, effort and practice, and is not something you can learn overnight. There are many different patterns and combinations that you will need to recognise quickly, particularly if your are trading short term timescales as a currency or futures trader.

You need to have some good resources and a live data feed on which to practice. Another very good way is to print some charts off, and then cover then up starting from the left hand side of the chart, and start to analyse the candlesticks as they appear and see if you can forecast what is likely to happen. Naturally this is better if someone can print them off for you, and best of all is watching live streaming data as the candlesticks appear. Currency charts are good to practice on, as most of them can be found free.

As I'm sure you know there are many books that have been written on Japanese candlesticks, and several by Steve Nison (most of which I have!!  one I purchased last year in hardback actually cost $85  )

However, last year I came across this technical analysis eBook which I think is one of the best resources available, and offers excellent value for money with four books in one. The four books provide a good grounding in the whole subject of trading using  a technical approach, balanced with an understanding of the importance of fundamental data in your trading.

The explanations of all the candlestick patterns is outstanding, and worth the price on it's own in my view. I even learnt one or two that I had not come across before. I rarely recommend products or books, but I have no hesitation in recommending these books to you - they are outstanding value and provide a superb platform for your trading knowledge. 

• A hands on guide to technical analysis
• Understanding technical indicators and fundamental analysis
• Candlestick patterns
• Understand trends and trend indicators

Click Here To Look At The Books In Detail

Once again, thank you so much for visiting the site - there are several others in the pipeline, including one on starting in Forex, online stock trading and online options.

For all of these you will need an excellent knowledge of Japanese candlesticks and technical analysis!!

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