Technical Analysis - Chart Patterns Book

**tminus** · 14th-April-2010 06:04 AM

So far I have read these two books
Stan Weinstein's Secrets for Profiting in Bull and Bear Markets
Nick Radge's Adaptive Analysis for Australian stocks

Weinstein's was a great read and provided a good introduction to TA. Radge's book covered risk and Elliot Wave well.

Both books though didn't cover the TA "textbook" chart patterns in depth. I know there a sites on the Internet that cover them and I have read them. But I was wondering if there was book that covered these in detail and with case studies. Recently I have taken a liking to reading books, and I find the information is retained better.

Any recommendations on TA chart patterns would be appreciated.

thanks

**brty** · 14th-April-2010 08:17 AM

There are 2 on chart patterns that I would recommend....

Technical Analysis of Stock Trends, by Edwards and Magee.

Encyclopedia of Chart Patterns (2nd Edition) by Thomas Bulkowski

The problem I had with chart patterns was when what looked like a particular pattern often morphed into some other pattern once I put the trade on. Of course after a period of time, the final pattern looked like a monty and performed accordingly. Aint hindsight grand.

brty

**tech/a** · 14th-April-2010 08:18 AM

Encyclopedia of Chart Patterns.

http://www.amazon.com/Encyclopedia-C.../dp/0471295256

But this is the accepted BIBLE on Tech analysis.

http://www.amazon.com/Technical-Anal.../dp/0814406807

The Best of course are those which arent "mainstream"

Here is one very well respected.

http://www.amazon.com/Curtis-Arnolds.../dp/1557388776

Then you'll find after looking at 1000s of charts that you may well find your own.

Enjoy.

BRTY---Snap!

**>Apocalypto<** · 14th-April-2010 11:21 AM

Another one I have read and thought had a mass of information on chart patterns candle sticks and much more is..........

Technical Analysis of the Financial markets. By John Murphy.

http://www.amazon.com/Technical-Anal.../dp/0735200661

**>Apocalypto<** · 14th-April-2010 11:26 AM

Originally Posted by brty

The problem I had with chart patterns was when what looked like a particular pattern often morphed into some other pattern once I put the trade on. Of course after a period of time, the final pattern looked like a monty and performed accordingly. Aint hindsight grand.

brty

So true!

This the exact reason I don't back test or count past pips (set ups) any more... it's all perfect in hindsight!

shhhit, I should be a millionaire with 100% strike rate based on it!

**tech/a** · 14th-April-2010 12:16 PM

Patterns are simply Market participants---buying and selling or doing nothing---represented in Chart form (Bar,Candlestick,line,Renko,P&F---blah blah)

Participants have been observed to act simpilar in crowd formation.
EG
If a price rises or falls dramatically then the herd will almost always react the same.
If somthing is seen as a bargain or expensive---same again.
If they sit and watch others they are likely to react when certain levels of behaviour are manifested.(Support/resistance)
Its not the pattern itself or the bar---its a culmination of representitive bars which tell a story---one we can ANTICIPATE.

But like everything there are those who are very good at it and those that just cant see a thing!

**tminus** · 15th-April-2010 09:01 AM

Thanks for all the recommendations.

Unfortunately Amazon doesn't provide useful previews. But Google is there to save the day.

http://books.google.com.au/books?q=T...G=Search+Books

From looking at the preview pages I will most likely get
Technical Analysis of the Financial markets. By John Murphy.

and maybe the Encyclopedia of chart patterns to save on shipping costs.

Although I am just paper trading, I have had good success on ascending triangles and symmetrical triangles, pretty much made me want to learn more patterns.

**daki** · 15th-April-2010 10:01 AM

I'd recommend anything from Steven Nison and John Person

Candlesticks courses... there is a lot of video and audio tutorials from these guys... very usefull .... i try to read less and watch/listen more as reading takes

**Noddy** · 21st-June-2012 10:49 PM

Originally Posted by tech/a

Encyclopedia of Chart Patterns.

http://www.amazon.com/Encyclopedia-C.../dp/0471295256

But this is the accepted BIBLE on Tech analysis.

http://www.amazon.com/Technical-Anal.../dp/0814406807

The Best of course are those which arent "mainstream"

Here is one very well respected.

http://www.amazon.com/Curtis-Arnolds.../dp/1557388776

Then you'll find after looking at 1000s of charts that you may well find your own.

Enjoy.

BRTY---Snap!

Looking around to buy the "Bible"of technical analysis -
Technical Analysis of Stock Trends - Edwards and Magee
as mentioned above.
Local prices on line -
Dymocks $165
A & R $94.99

Bought a second hand hard cover for $15.53 from Better World Books
Includes delivery free from USA.

No wonder book sellers in Australia are struggling ???

**Boggo** · 21st-June-2012 11:09 PM

I have always found this site to be excellent -
http://booko.com.au/books/search?utf...product_type=1

**Gringotts Bank** · 21st-June-2012 11:09 PM

Bulkowski's "Getting started in Chart Patterns" is much more affordable and just as good as the Encyclopedia. The stats in the Encyclopedia are meaningless for our market.