Beyond Candlesticks: New Japanese Charting Techniques Revealed by Steve Nison is an invaluable contribution to the field of technical analysis and charting techniques. Building on the foundations laid in his seminal work, “Japanese Candlestick Charting Techniques”, Nison further explores and demystifies a wide array of Japanese charting methods that were previously unknown in the West.
In “Beyond Candlesticks”, Nison introduces several lesser-known, yet highly effective Japanese charting techniques, including Renko, Kagi, and Three-Line Break charts. Each technique is presented in an accessible and easy-to-understand manner, making it a suitable guide for both novice and experienced traders.
The book starts by revisiting the basics of candlestick charting, setting the stage for the introduction of these new techniques. Nison explains how to construct each chart type, how to interpret them, and most importantly, how to effectively use them in trading scenarios.
One of the standout features of “Beyond Candlesticks” is the practical application of these techniques. Nison supplements theoretical understanding with real-world examples, providing a thorough walkthrough of how these charting methods can be used to predict market movements and improve trading decisions.
Beyond the charting techniques, the book also delves into trading psychology, emphasizing discipline, patience, and emotional control as crucial elements of successful trading. It also provides useful tips on risk management, further solidifying its place as a comprehensive trading guide.
In summary, “Beyond Candlesticks” is a robust guide for any trader or analyst looking to expand their knowledge and toolkit. Steve Nison’s unique blend of technical knowledge, clear instructional style, and practical trading advice makes this book a significant resource for anyone seeking to enhance their trading strategy and performance.
