This was recommended in the School of Pips and I’ve been seeing more and more people recommend analyzing Price Action over Indicators, so I figured I should increase my strength in Price Action w/ candlesticks.
The book is: Japanese Candlestick Charting: A Contemporary Guide to the Ancient Techniques of the Far East by Steve Nison
(http://amzn.to/1WMibJ7)
Is it worth the read? Is it not?
Any other Price Action books you would recommend?
Definitely worth the read, as so many strategies incorporate price action as an important element. Its not a strategy manual. Nison’s Beyond Candlesticks also worth reading for more advanced techniques.
Much of the meaning of candlesticks and candlestick patterns plus greater levels of practical trading guidance are given by Thomas Bulkowski. See his ThePatternSite.com.
So, when you say it’s not a ‘strategy manual’ will it be informative beyond candlestick basics. I dont want to read information of candlestick basics that I already know, or do not need - I’m looking to delve into real useful knowledge that I can use in my trading, will this book provide it?
Maybe Steve Nison’s book, The Candlesticks Course, is a better option?
Let’s run a test, this could be useful for lots of posters with similar needs. Referring to the strategies you might use or have in mind, post up a candlesticks query and I will look up what Nison and Bulkowski say in response.
Ahh the Japanese love there insects …! I like my steak
But the bucking bronco (the market) doesn’t care for either so I let it tell me what it wants and I follow untill it’s full. …
ye haaa …
I have read some of Nison’s stuff, very informative and very in depth. You may also take a look at the encyclopedia of candlestick formations and patterns. What I particularly like is you can look them up individually and get a percentage rating of its effective.
So with out going into the great depth of Nision and stuffing my brain with a lot of useless information I have narrowed the few patterns down and several candlesticks. of significance.