Technical Charting

Just completed 2 books by Steve Nison - Candle Stick Course and Beyond Candle Sticks. i wish to recommend these two books to all readers as it is easy to read and understand. These books reveal the basic of candle stick charting which was use by the Japanese since 18th century among rice traders.

The main advantage i found the japanese candle stick charting over the western charting concept is that is easy to understand with less technical and all the mathematical explanations. Example, try to read the meaning of MACD, Fibonacci & Elliot Waves, by their bombastic names are already confusing enough. Whereas for Japanese candle stick all you need to know is the basic high, low, open and close which form a candle stick. The most interesting part is, by recording these four parameters daily, you are able to build a series of daily candle sticks that has the ability to tell you the "behavior" of particular stock. it is a useful tool to understand the collective strength of two market direction ie BULL vs BEAR.

Now, to back track a bit, the basic four parameters, HLOC, amusingly can transform into various patterns and forms which carry useful signals for traders to make decision. Broadly, they are three forms of signals traders is looking for, reversal, continuation and side-way.

I wish to invite all newbies (learners) to exchange opinion here and post whatever question you here and hopefully they are sifus out there give your inputs as well.