Price Action & Candlestick Charting Practice Guide

Improve the ability to understand general price action in various market contexts.Enhance candlestick charting analysis through the use of detailed cases studies.Experience 100s of scenarios from stock, currency, and commodity futures charts to fully comprehend market movements before, during, and after their development.

Author’s Note:

Understanding price action is a core skill that enhances the analysis of any price chart. Candle charting provides simple yet detailed insight into the state of market conditions that can be applied to clarify the context of past, present, and future price action. That is why candle charting is a primary component underlying price action analysis. Learning about price action and candle patterns is quite straightforward but using them effectively in real live market conditions takes plenty of time and practice in order to build experience and develop skill. Studying and practising with chart examples is a great way to condense years of experience in the market. That is why the majority of content here is focused on detailed case studies that outline price action and candle patterns before, during, and after their development. In doing so a clearer understanding of charting can be gained due to the process being very similar to real live market conditions, except in a more convenient and condensed experience without the need to spend time searching and studying charts over the course of many years.

Note that the examples will primarily take place from 2015-2020 but the generally applicable knowledge can be applied in the study of other time periods in the past or future. So the examples will grow old over time but the usefulness of their lessons will constantly remain applicable. As well the charts are primarily of American stocks but there are also an assortment of charts from other regions of the world and other markets such as currencies and commodity futures, which further demonstrate the universal principles of candle charting throughout various time periods and markets.

It is most productive to understand the implications of general price movement “formations” rather than focusing on memorizing and searching for strict “candle patterns.” For this reason the first section will focus on general price action and how it relates to the main principles of candle charting. Next those basic ideas behind price action and candle charting will be applied to the most common and effective candle patterns. Understanding the logic of general price action movements and formations allows for a relatively easy grasp of the multitude of candle patterns that are covered in a detailed discussion with plenty of diagrams. Finally the bulk of the material examines dozens of case studies encompassing 100s of scenarios and situations to go from theoretical ideas to real live market conditions. The chart examples found in the case studies are divided into several sections that focus on particular types of price action and candle patterns Then the last section comprises an assortment of various price action and candle patterns that enables for enhanced charting practice since the exact price action and candle patterns being examined won’t be known ahead of time. Thus allowing for further practice of quickly identifying key price action and candle patterns to apply towards better understanding of market conditions.

Price Action eBooks

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