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| Beyond Candlesticks, New Japanese Charting Techniques Revealed - Steve Nison |
A chart is like a map, the more information each one provides, the better
the chance of reaching your destination safely. Candle charts display a
more detailed and accurate map of the market than do bar charts. A
Japaneseb ook that I had translated stated, "It is not an exaggeration to
say that candlesticks are the best in the world and a very exquisite creation
for charts."l This is because, as detailed below, candle charts oPen
new avenues of analysis and offer many advantages over bar charts:
Candle charts will pictorially display the supply-demand situation by
showing who is winning the battle between the bulls and the bears.
Bar charts do not.
Like bar charts, candle charts will show the trend of the market, but
candle charts add another dimension of analysis by revealing the force
behind the move.
Bar chart techniques can often take weeks to transmit a reversal signal.
However, candle charts will often send out clues of imminent reversals
in one to three sessions. The result is that candle charts often provide
the opportunity for more timely trades.
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