Candlestick Charting Explained - Timeless Techniques for trading Stocks and Futures

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Master this powerful trading system and identify the best tradesInside this book you will discover candlestick charting, one of the most popular tools in technical analysis. Candlestick Charting Explained features updated charts and anal...
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Master this powerful trading system and identify the best trades

Inside this book you will discover candlestick charting, one of the most popular tools in technical analysis. Candlestick Charting Explained features updated charts and analysis as well as new material on integrating Western charting analysis with Japanese candlestick analysis, grouping candlesticks into families, detecting and avoiding false signals, and more.


Product Details

Paperback: 550 pages


    Editorial Reviews

    From the Back Cover

    The classic Japanese candlestick reference, updated with all-new insights and tools to improve your predictive accuracy

    Candlestick Charting Explained takes the subjectivity out of Japanese candlestick analysis by providing you with standardized, straightforward coverage of 89 powerful candlestick patterns. Inside you will learn what they indicate about current trader behavior and how you can use each to instantly improve your market knowledge and analytical precision.

    In this revised and expanded third edition, candlestick expert Greg Morris updates his influential guidebook with valuable new material and patterns to give you:

    • Thorough coverage of candlestick patterns to allow instant analysis of investor attitude and probable market direction
    • Methods for integrating candlesticks with traditional Western charting analysis for enhanced signal verification
    • Completely new section by Ryan Litchfield dedicated to "Trading with Candlesticks"
    • Current insights into trader psychology, and how it impacts interactions between buyers and sellers

    Its in-depth exploration of traditional as well as all-new candlestick charts, Candlestick Charting Explained will show you how to make candlestick charting a logical, understandable, and profitable component of your current trading program.

    Empower your trading with Japanese candlestick charting

    Japanese candlestick charts dramatically improve your understanding of short-term (less than a week) market sentiment, making you a much more informed and focused trader of stocks, futures, and indices. The bestsellingCandlestick Charting Explained focuses on the patterns themselves and highlights the key facts you need to know to apply each pattern to your trading. For each of 89 distinctive candle patterns, its standardized format provides you with:

    • Commentary--Description of pattern and significance of its name, insights into unique features, and other concise explanation
    • Rules of Recognition--Simple rules for quick, accurate identification along with precise, day-by-day descriptions of pattern development
    • Scenarios and Psychology Behind the Pattern--Trading scenarios that could have led to the pattern's development, with general discussion of the psychology of each
    • day's action
    • Pattern Flexibility--Situations that change the pattern's effectiveness with explanations of allowable deviations from the classic pattern
    • Pattern Breakdown--Instructions for reducing the pattern to a single candle line and whether or not outside confirmation is suggested or unnecessary
    • Related Patterns--Patterns that have similar formations, could be considered variations, or are a part of this pattern
    • Example--A graphic example of the pattern to both aid in recognition and eliminate costly confusion in pattern identification

    Additional information and insights present different interpretations of candlesticks based on intraday instead of end-of-day events and action, improving signal reliability. The author's unique candle pattern filtering concept, instrumental in answering the "how" question, is updated to utilize today's larger universe of stock data. An all-new chapter provides practical application and perspective traders need to view candles in the context of today's computer-driven marketplace.

    For millions of traders, candlesticks have become a key tool in creating and verifying trading signals. Candlestick Charting Explained is the only book you need to start integrating their proven versatility and effectiveness into your technical trading program.


    About the Author

    Gregory L. Morris is a portfolio manager for PMFM, Inc., managing the PMFM Core Advantage Portfolio Trust mutual fund. One of the world's leading experts on candlestick charting, Morris is a consultant and the former CEO of, which he and a partner founded and later sold to He is the author of The Complete Guide to Market Breadth Indicators, along with numerous articles for professional publications, and has spoken to thousands of traders and investors at industry conferences around the world.

    Most Helpful Customer Reviews

    89 of 91 people found the following review helpfulBy Vira Lata on September 14, 2008
    Format: Paperback
    I had already read this book and Steve Nison's Japanese Candlestick Charting Techniques.

    If you want to buy a book about candlestick both books have the same content about all the candlestick patterns and the descrition about them.

    Japanese Candlestick Charting Techniques:
    - has chapters about the relationship of candlestick with Volume, Support and Resistence, trendlines, Indicators (MACD,IFR,etc). This is VERY GOOD. Realy good.
    - It has many examples discussed too. More than this book.

    This book has:
    - a chapter about Trading with Candlesticks that has content about trendlines, supports, etc.
    - a lot of statistics of the patterns.

    One great difference is that this book is easier to use. It has a standardized format for all the patterns with Commentary, Rules, Psychology Behind the Pattern, Flexibility, Pattern Breakdown, Related Patterns, Examples. This is VERY GOOD. It's only search the pattern and read what you want to know. It has a table with a resume about the pattern too.

    Steve Nison's book isn't objective and it is not hands-on. You are reading an example, but... where is the picture?? You have to turn the pages searching the picture and them back to the curretly page to keep going. To do that for more than 300 pages is very, VERY BAD. Really. Trust me. You need to have a lot of patience.

    Well, if you read one of these books, don't worry: you will know all about candlesticks. But this book is easier to use and to consult.
    And it is cheaper than Steve Nison's book.

    2 Comments  Was this review helpful to you?  YesNo
    67 of 70 people found the following review helpfulBy AK on April 17, 2007
    Format: Paperback
    I am quite surprised at how useful the book is for my trading. I'm currently a day trader that trades momentum. I have been starting to use Candlesticks in the last year or two to try to enhance my entries and exits. My profitable trade percentages are increasing and my trade exit timeliness is getting better (thanks to candlesticks). The whole candlestick concept was hard for me to swallow but the more I got into it, I realized it was a visual pattern recognition concept. The book does a great job of explaining all of the useful candlestick formations as well as backing the explanations up with examples. I really liked the second half of the book that did a very thorough statistical analysis of the candlestick signals over multiple timeframes. I learned alot from the book and will add its extensive data into my stock trading techniques. Well done....


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