Charting Week 1
INTRODUCTION TO ELEMENTARY CHARTING ( Japanese Candle Sticks )
AND TECHNICAL ANALYSIS
WEEK-01
- Viewing a blank (naked) chart shows us clear price movement without interpretive distortions.
- The shape of each bar ( candle stick) reveals some vital information about price movement: O-H-L-C (Open- High- Low- Close )
- Lines connecting extreme points of price movement may reveal significant levels of Support/ Resistance and future Direction
- Price Movements create patterns that may be indicative of future movements
- Candle shapes may reveal significant information about underlying trading psychology and future price movements (see Steve Nison, top expert on Japanese Candle Sticks )
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