The Benefits and Challenges of Downloading Beyond Candlesticks Ebook Pdf from Torrent Sites: A Review of Steve Nison's Book on Japanese Charting Techniques
Steve Nison Beyond Candlesticks Ebook Pdf Downloads Torrent
If you are interested in learning more about candlestick charting, one of the most powerful and popular tools for technical analysis, you may have heard of Steve Nison's Beyond Candlesticks. This book is considered to be one of the best and most comprehensive guides on candlestick charting ever written. But what is this book about and why is it so popular? And how can you download it for free as an ebook pdf from torrent sites? In this article, we will answer these questions and more. We will explore the history and benefits of candlestick charting, the contents and highlights of Steve Nison's Beyond Candlesticks, and the best and safest ways to download it from torrent sites.
Steve Nison Beyond Candlesticks Ebook Pdf Downloads Torrent
The History of Candlestick Charting
The Origin of Candlestick Charting in Japan
Candlestick charting is a technique that uses graphical representations of price movements in the form of candles. Each candle consists of a body that shows the opening and closing prices, and a wick that shows the high and low prices, of a given time period. Candlestick charting originated in Japan in the 17th century, when rice traders used it to analyze the fluctuations in the rice market. The Japanese rice traders developed a sophisticated system of candlestick patterns that reflected the psychology and emotions of the market participants. They also used candlestick charting to identify trends, reversals, support and resistance levels, and trading signals.
The Introduction of Candlestick Charting to the West
Candlestick charting remained a secret among the Japanese traders for centuries, until it was introduced to the Western world in the late 20th century. The person who is credited with bringing candlestick charting to the West is Steve Nison, an American technical analyst and author. Steve Nison discovered candlestick charting while working as a research analyst for a Japanese brokerage firm in the 1980s. He was fascinated by the power and elegance of candlestick charting, and decided to study it in depth. He traveled to Japan several times to learn from the experts, and translated many ancient texts on candlestick charting into English. He also wrote several books on candlestick charting, including his first and most famous one, Japanese Candlestick Charting Techniques, published in 1991.
The Evolution of Candlestick Charting Techniques
Since then, candlestick charting has become widely adopted by traders and investors around the world, as a versatile and effective method for analyzing any market or instrument. Candlestick charting has also evolved and expanded over time, as new patterns and techniques have been discovered and developed. Steve Nison himself has contributed to the evolution of candlestick charting, by introducing new concepts and innovations in his subsequent books. One of his most notable books is Beyond Candlesticks, published in 1994, which is the topic of this article.
The Benefits of Candlestick Charting
The Advantages of Candlestick Charting over Other Methods
Why should you use candlestick charting instead of other methods, such as bar charts or line charts? There are several advantages that candlestick charting offers over other methods, such as:
Candlestick charting provides more information and clarity than other methods. By showing the opening, closing, high, and low prices of each time period, candlestick charting reveals the full range of price action and the balance of power between buyers and sellers. Other methods, such as line charts, only show the closing prices, which can hide important details and nuances.
Candlestick charting is easier to read and interpret than other methods. By using different colors and shapes for the candles, candlestick charting makes it easy to distinguish between bullish and bearish periods, and to spot patterns and trends at a glance. Other methods, such as bar charts, can be more confusing and tedious to analyze.
Candlestick charting is more visually appealing and engaging than other methods. By using candles that resemble real objects, candlestick charting creates a vivid and dynamic picture of the market movements, that appeals to the human eye and brain. Other methods, such as line charts, can be more boring and dull to look at.
The Psychological Insights of Candlestick Patterns
Another benefit of candlestick charting is that it provides valuable insights into the psychology and emotions of the market participants. Candlestick patterns are not just random shapes, but reflections of the collective hopes, fears, expectations, and reactions of the buyers and sellers. By understanding the meaning and logic behind each candlestick pattern, you can gain an edge over the market, by anticipating its future direction and behavior. For example:
A long white candle indicates strong bullish sentiment, as the buyers are in control and push the price higher from the opening to the closing.
A long black candle indicates strong bearish sentiment, as the sellers are in control and push the price lower from the opening to the closing.
A doji indicates indecision and uncertainty, as the price opens and closes at the same level, or very close to it.
A hammer indicates a potential reversal from a downtrend to an uptrend, as the price falls sharply during the period but then rebounds strongly to close near or above the opening.
A shooting star indicates a potential reversal from an uptrend to a downtrend, as the price rises sharply during the period but then falls back sharply to close near or below the opening.
The Flexibility and Adaptability of Candlestick Analysis
A third benefit of candlestick charting is that it is flexible and adaptable to any market or instrument. You can use candlestick charting to analyze stocks, forex, commodities, indices, cryptocurrencies, or any other asset that has price movements. You can also use candlestick charting to analyze any time frame or interval, from minutes to months. You can also combine candlestick charting with other technical tools and indicators, such as trend lines, moving averages, Fibonacci retracements, oscillators, or volume analysis. Candlestick charting can enhance and complement any trading strategy or system.