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Advanced Candlestick Charting Guide

This document provides an overview of an advanced candlestick charting techniques course. The course teaches traders how to: 1) Identify when to ignore candlestick signals and use intraday charts effectively. 2) Learn the P.R.O.F.I.T.S methodology and six principles every candlestick trader must know. 3) Discover new uses for the most potent candle pattern, the window, and effective money management concepts. The course includes interactive practice sessions to help traders refine their candlestick analysis skills and become "Samurai traders".

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723 views20 pages

Advanced Candlestick Charting Guide

This document provides an overview of an advanced candlestick charting techniques course. The course teaches traders how to: 1) Identify when to ignore candlestick signals and use intraday charts effectively. 2) Learn the P.R.O.F.I.T.S methodology and six principles every candlestick trader must know. 3) Discover new uses for the most potent candle pattern, the window, and effective money management concepts. The course includes interactive practice sessions to help traders refine their candlestick analysis skills and become "Samurai traders".

Uploaded by

অদ্ভুত ছেলে
Copyright
© © All Rights Reserved
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Advanced Candlestick

Charting Techniques:
Secrets to Becoming a
Samurai Trader

He who is well
prepared has won
half the battle

Slide 3

New refinements and enhancements for high success


trading with candle charts
See when to ignore a candle signal
Special section on on intraday charts
Uncover the one rule every candlestick trader ignores at
their own peril
The P.R.O.F.I.T.S methodology
Learn the six principles every candlestick trader must
know
Uncloak new uses for the most potent candle pattern - the
window
Effective money management concepts to maximize the
effectiveness of candle charts
Interactive practice sessions

3
3

Constructing the Candle Line

4
4

Candle or noses

5
5

Candles shine at Preserving Capital

A tall white candle pierces this resistance in early March.


For those who already are long this index, this was a green
light to remain long. But observe what unfolded the next
sessionthe doji. This doji line hinted the bulls had lost full
of the market (note: it does not mean that the bears has taken
control).

Warren Buffets Rules of


Money Management
Rule 1 Not to lose money
Rule 2 Dont forget rule 1
7

Nison Trading
Principle
Candlesticks do not give
price targets.

Gravestone Doji
This doji takes on extra significance
because it confirms a resistance level

Nison Trading
Principle
A candlestick line or pattern
requires two criteria:
The shape of the line or pattern
The preceding trend

10

Doji and Trend


Concept:
To use a northern doji as a
signal we need to have an
uptrend to reverse

11

Doji in a Box Range is


not a trading signal

Doji and trend


A doji in the middle
of a trading range has
no trend change
implications

Box Range

12

Doji

Northern and Southern Doji


A doji in an uptrend
is a Northern Doji

A doji in a
downtrend
is a
Southern
Doji

13

Southern Doji

14

Nison Trading
Principle
Candle signals must be
evaluated and acted upon
within the markets context

15

Doji in Context

Concept:
If a doji makes a new
high close for the move,
wait for bearish
confirmation with a close
under the dojis close

16

Need a
close
under
here to
turn
bearish

Doji in Context
Which of these
scenarios is a more
likely top reversal?

Scenario 1
17

Scenario 2

Doji, but New High Close

18

Doji, but New High close

19

Flexibility with Candles (and Confluence)

20

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