THE CANDLESTICK TRADING BIBLE - WordPress
THE CANDLESTICK TRADING BIBLE1
THE CANDLESTICK TRADING BIBLEContentIntroduction4Overview6History of Candlesticks8What is a Candlestick11Candlestick Patterns14The Engulfing Bar Candlestick16The Doji Candlestick Pattern20The Dragon Fly Doji Pattern22The Gravestone Doji Pattern25The Morning Star28The Evening Star Candlestick Pattern31The Hammer Candlestick Pattern34The Shooting Star Candlestick Pattern37The Harami Pattern40The Tweezers Tops and Bottoms43Candlestick Patterns Exercise47The Market Structure51How to Trade Trending Markets54Support and Resistance Levels58How to Draw Trendlines61The Ranging Market63Time Frames and Top Down Analysis70Trading Strategies and Tactics79The Pin Bar Candlestick Pattern Strategies812
THE CANDLESTICK TRADING BIBLETrading the Pin Bar Candle With The TrendTrading TacticsTrading Pin Bars with Confluence889296Pin Bar Trades Examples100Trading Pin Bars in Range Bounds Markets103The Engulfing Bar Candlestick Pattern109How to Trade the Engulfing Bar Price Action Signal112Trading the Engulfing Bar with Moving Averages117How to Trade the Engulfing Bar with Fibonacci Retracements120Trading the Engulfing Bar with Trendlines122Trading the Engulfing Bar in Sideways Markets125The Engulfing Pattern with Supply and Demand Zones130Money Management Trading Rules133The Inside Bar Candlestick Pattern137The Psychology Behind the Inside Bar Pattern Formation140How to Trade Inside Bars with Support and Resistance143Tips on Trading the Inside Bar Price Action Setup146Trading the False Breakout of The Inside Bar Pattern148Inside bar false breakouts trading examples151Trading Inside Bar False Breakout with Fibonacci Retracements154Trades Examples158Money Management Strategies162Conclusion1673
THE CANDLESTICK TRADING BIBLEIntroductionThe Candlestick trading bible is one of the most powerful tradingsystems in history. It was invented by Homma Munehisa.The father ofcandlestick chart patterns.This trader is considered to be the most successful trader in history, hewas known as the God of markets in his days, his discovery made himmore than 10 billion in today’s dollar.I have spent 10 years compiling, testing, organizing, and consistentlyupdating this method to create my own new version, which isconsidered to be the easiest and most profitable trading system.The Candlestick trading bible is the trading method that is going tofinally take your trading to where it should be, consistent, profitable,easy and requiring very little time and effort.This trading system is based on Japanese candlestick patterns incombination with technical analysis.All what you have to do is to spend as much time as you can to masterthe method that i’am going to share with you and use it to trade anyfinancial market.Learning Japanese candlestick is like learning a new language. Imagineyou got a book which is written in a foreign language, you look at thepages but you get nothing from what is written.The same thing when it comes to financial markets. If you don’t knowhow to read Japanese candlesticks, you will never be able to trade themarket.Japanese candlesticks are the language of financial markets, if you getthe skill of reading charts, you will understand what the market istelling you, and you will be able to make the right decision in the righttime.4
THE CANDLESTICK TRADING BIBLEThe easy to follow strategies detailed in this work will provide you withprofit making techniques that can be quickly learned.More importantly, learning the principals of market psychologyunderlying the candlestick methodology will change your overalltrading psych forever.The Candlestick trading bible has already proven itself. Fortunes havebeen made using the Japanese candlestick strategies.I congratulate you on taking the first step in your trading education,you are on the right path to become a better trader.However, this is actually just the beginning of your trading career, afterfinishing this eBook, the real work begins.Don’t read this eBook very fast, this is not a novel, you should takeyour time to understand all the concepts i discussed, take your notes,and go back from time to time to review the strategies i shared withyou.Remember, this is an educational work that will teach you professionalmethods on how to make money trading financial markets.If you got the skills that i shared with you here, you will changecompletely your life and the life of people around you.5
THE CANDLESTICK TRADING BIBLEOverviewThe eBook is divided into the following sections:1-Candlesticks AnatomyJust as humans, candlesticks have different body sizes, and when itcomes to trading, it’s important to check out the bodies of candlesticksand understand the psychology behind it. that’s what you will learn inthis section.2-Candlestick patternsCandlestick patterns are an integral part of technical analysis,candlestick patterns emerge because human actions and reactions arepatterned and constantly repeated.In this section you will learn how to recognize the most importantcandlestick patterns, the psychology behind it’s formation, and whatdo they indicate when they form in the market.3-The Market structureIn this section, you will learn how to identify trending markets, rangingmarkets, and choppy markets. You will learn how these markets moveand how to trade them professionally.You will also learn how to draw support and resistance, and trendlines.4-Time frames and top down analysisMultiple time frame analysis is very important for you as a price actiontrader, in this section you will learn how to analyze the market usingthe top down analysis approach.5-Trading strategies and tacticsIn this section you will learn how trade the market using four priceaction trading strategies:-The pin bar strategy6
THE CANDLESTICK TRADING BIBLE-The engulfing bar strategy-The inside bar strategy-The inside bar false breakout strategy-Trades examplesI highly recommend you to master the previous sections beforejumping to this section, because if you don’t master the basics, you willnot be able to use these strategies as effective as it would be.In this section you will learn how to identify high probability setups inthe market, and how to use these candlestick patterns in trendingmarkets and ranging markets to maximize your profits.6-Money managementIn this section, you will learn how to create a money management andrisk control plan that will allow you to protect your trading capital andbecome consistently profitable.7
THE CANDLESTICK TRADING BIBLEHistory of candlesticksCandlesticks have been around a lot longer than anything similar in theWestern world.The Japanese were looking at charts as far back as the 17th century,whereas the earliest known charts in the US appeared in the late 19thcentury.Rice trading had been established in Japan in 1654, with gold, silverand rape seed oil following soon after.Rice markets dominated Japan at this time and the commoditybecame, it seems, more important than hard currency.Munehisa Homma (aka Sokyu Honma), a Japanese rice trader born inthe early 1700s, is widely credited as being one of the early exponentsof tracking price action.He understood basic supply and demand dynamics, but also identifiedthe fact that emotion played a part in the setting of price.He wanted to track the emotion of the market players, and this workbecame the basis of candlestick analysis.He was extremely well respected, to the point of being promoted toSamurai status.The Japanese did an extremely good job of keeping candlesticks quietfrom the Western world, right up until the 1980s, when suddenly therewas a large cross-pollination of banks and financial institutions aroundthe world.This is when Westerners suddenly got wind of these mystical charts.Obviously, this was also about the time that charting in generalsuddenly became a lot easier, due to the widespread use of the PC.In the late 1980s several Western analysts became interested incandlesticks. In the UK Michael Feeny, who was then head of TA in8
THE CANDLESTICK TRADING BIBLELondon for Sumitomo, began using candlesticks in his daily work, andstarted introducing the ideas to London professionals.In the December 1989 edition of Futures magazine Steve Nison, whowas a technical analyst at Merrill Lynch in New York, produced a paperthat showed a series of candlestick reversal patterns and explainedtheir predictive powers.He went on to write a book on the subject, and a fine book it is too.Thank you Messrs Feeny and Nison.Since then candlesticks have gained in popularity by the year, andthese days they seem to be the standard template that most analystswork from.Why candlesticks are important to your trading analysis?-Candlesticks are important to you trading analysis because, it isconsidered as a visual representation of what is going on in the market.By looking at a candlestick, we can get valuable information about theopen, high, low and the close of price, which will give us an idea aboutthe price movement.-Candlesticks are flexible, they can be used alone or in combinationwith technical analysis tools such as the moving averages, andmomentum oscillators, they can be used also with methods such theDow Theory or the Eliot wave theory.I personally use candlesticks with support and resistance, trend lines,and other technical tools that you will discover in the next chapters.-The human behavior in relation to money is always dominated byfear; greed, and hope, candlestick analysis will help us understandthese changing psychological factors by showing us how buyers andsellers interact with each other’s.-Candlesticks provide more valuable information than bar charts, usingthem is a win-win situation, because you can get all the trading signals9
THE CANDLESTICK TRADING BIBLEthat bar chart generate with the added clarity and additional signalsgenerated by candlesticks.-Candlesticks are used by most professional traders, banks, and hedgefunds, these guys trade millions of dollars every day, they can movethe market whenever they want.They can take your money easily if you don’t understand the game.Even if you can trade one hundred thousand dollars trading account,you can’t move the market; you can’t control what is going in themarket.Using candlestick patterns will help you understand what the big boysare doing, and will show you when to enter, when to exit, and when tostay away from the market.10
THE CANDLESTICK TRADING BIBLEWhat is a candlestick?Japanese candlesticks are formed using the open, high, low and closeof the chosen time frame.-If the close is above the open, we can say that the candlestick is bullishwhich means that the market is rising in this period of time. Bullishcandlesticks are always displayed as white candlestick.The most trading platform use white color to refer to bullishcandlesticks. But the color doesn’t matter, you can use whatever coloryou want.The most important is the open price and the close price.-If the close is below the open, we can say that the candlestick isbearish which indicates that the market is falling in this session.Bearish candles are always displayed as black candlesticks. But this isnot a rule.11
THE CANDLESTICK TRADING BIBLEYou can find different colors used to differentiate between bullishand bearish candlesticks.-The filled part of the candlestick is called the real body.-The thin lines poking above and below the body are called shadows.-The top of the upper shadow is the high-The bottom of the lower shadow is the low.Candlestick body sizes:Candlesticks have different body sizes:Long bodies refer to strong buying or selling pressure, if there is acandlestick in which the close is above the open with a long body, thisindicates that buyers are stronger and they are taking control of themarket during this period of time.Conversely, if there is a bearish candlestick in which the open is abovethe close with a long body, this means that the selling pressurecontrols the market during this chosen time frame.-Short and small bodies indicate a little buying or selling activity.12
THE CANDLESTICK TRADING BIBLECandlestick shadows (tails)The upper and lower shadows give us important information about thetrading session.-Upper shadows signify the session high-Lower shadows signify the session lowCandlesticks with long shadows show that trading action occurred wellpast the open and close.Japanese candlesticks with short shadows indicate that most of thetrading action was confined near the open and close.-If a candlestick has a longer upper shadow, and short lower shadow,this means that buyers flexed their muscles and bid price higher.But for one reason or another, sellers came in and drove price backdown to end the session back near its open price.-If a Japanese candlestick has a long lower shadow and short uppershadow, this means that sellers flashed their washboard abs andforced price lower. But for one reason or another buyer came in anddrove prices back up to end the session back near its’ open price.13
THE CANDLESTICK TRADING BIBLECandlestick patternsCandlestick patterns are one of the most powerful trading concepts,they are simple, easy to identify, and very profitable setups, a researchhas confirmed that candlestick patterns have a high predictive valueand can produce positive results.I personally trade candlestick pattern for more than 20 years; i can’treally switch to another method, because i tried thousands ofstrategies and trading methods with no results.I’m not going to introduce you to a holy grail, this trading systemworks, but be prepared to lose some trades, losing is a part of thisgame, if you are looking for a 100% wining system, i highly recommendyou to stop trading and go look for another business.Candlestick patterns are the language of the market, imagine you areliving in a foreign country, and you don’t speak the language.How could you live if you can’t even say a word? It’s tough right?Thesame thing when it comes to trading.If you know how t
considered to be the easiest and most profitable trading system. The Candlestick trading bible is the trading method that is going to finally take your trading to where it should be, consistent, profitable, easy and requiring very little time and effort. This trading system is based on Japanese candlestick patterns in
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Candlestick chart is a kind of a bar chart defined by opening, closing, high, and low prices. If the opening price is lower than the closing price, a hollow candlestick is drawn indicating uptrend (Bullish). In the other case, a filled candlestick is drawn showing downtrend (Bearish). (A) Bullish candlestick (B) Bearish candlestick
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Bullish Candlestick Patterns Free PDF Download[/caption] Bullish Candlestick Patterns Free PDF Download Candlestick patterns are one of the most important tools in a trader's toolbox. They can be used to identify potential reversals, continuations, and breakout opportunities. There are many different candlestick patterns, but some are .
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