Buy Encyclopedia of Candlestick Charts
Encyclopedia of Candlestick Charts Review:
Before I get to the slick marketing message, let me give you a few examples of how I use the information in my candlestick book.Imagine that price has been trending upward for 5 bars and you see a bearish engulfing candle pattern.
Looking up the candle in the book, you read that it acts as a bearish reversal 79% of the time (page 308), and that 74% of the time (page 312) price reaches its price target (the height of the candle projected downward).If you then see price begin to falter, like it is thinking of reversing, you can exit the trade ahead of everyone else.
For Apple stock (AAPL) on November 13, 2007, I found an above the stomach candle.The book says (page 89) that the candle acts as a bullish reversal 66% of the time.The upward target is 183.39 with a 61% probability of reaching 191.33 (page 93).
A downward target is 139.84 with a 53% probability of reaching 130.28.The current close is 169.96.After a bumpy start, the stock moved up in a straight-line run to 187.70 on November 30, 2007 before pausing for a few days.
It gives me an edge over other traders that do not have such information.In short, it helps me make money.
Never before has a book combined a comprehensive list of candlesticks with a statistical review of their performance...until now.
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