Topics Covered:

* Candlestick Charting (would you have guessed)

* Single Candles, Multiple Candles and Candle Addition

* Strategies for Trading The Australian Market

* Reversal and Continuation Patterns

* Fine Tuning Entry and Exit Signals using Candles

* Maximising Short Term Profits

* Gaps, trends and support/resistance

* Trading Psychology

Review

For a simple and easy book on Candlestick patterns that are useful in the Australian market this book is possibly the best. It is mentioned by many traders in different writings and when I read it based on the reviews I could see why it was popular. Louise Bedford is excellent at getting her understanding across to readers and the information is so easy to understand it almost makes it sound like it is too simple... Do not be fooled there is a lot of powerful knowledge in this small book.

The book is focsed, as the name suggests on candlestick patterns and learning to identify these. Identification of the most commonly discussed and useful candles here in Australia is covered but the beauty is once the pattern is shown in artwork to learn about it, Louise then shows how these actually tend to appear im charts which can seem quite different at first. Lousie covers single, two line and three line candle techniques in the book. (If you don't know what these are you will after reading the book).

Lousie ties everything regarding candlestick patterns to the psychology of the market. This is particularly useful for people who have always regarded a chart as just price action. At the end of each chapter is a set of review questions to complete. This is a great concpet as you can know whether you understand the major concpets that have been covered before trying to move on.

Once candle identification is covered the book moves in to looking at these candle patterns in reference to other chart patterns and line studies to find high probability trading opportunities. At the end of this book Louise interviews David Chia a well known broker and trainer that uses candlesticks and the interview provides and interesting insight in to his opinions of trading.

I found this to be a very simple and effective book. I believe it was Louises first book and the fact that she has written two more since and has become an authority in this country on candlesticks I think it speaks for itself. This is a very good book and I highly recommmend it to any one wanting to improve their knowledge on trading in general.

Rating