Top 8 Candlestick Pattern Books – An analytical tool called a candlestick pattern is used in financial analysis to visualize daily price movement on a candlestick chart. It shows the entire one-day price movement of stocks, derivatives, and currencies, resulting in the formation of a pattern. Using past price trends, this pattern aids analysts in forecasting future price fluctuations. It is a powerful trading instrument, and numerous books have been written on it. Among the Top 8 Candlestick Pattern Books are :-
- How To Make Money Trading With Candlestick Charts ( Get this book )
- Candlestick Charting For Dummies ( Get this book )
- The Candlestick Course: A Marketplace Book ( Get this book )
- The Ultimate Guide To Candlestick Chart Patterns ( Get this book )
- Don’t Trade Before Learning These 14 Candlestick Patterns ( Get this book )
- Candlestick Charting Explained: Timeless Techniques For Trading Stocks And Futures ( Get this book )
- 21 Candlesticks Every Trader Should Know ( Get this book )
- Candlestick Patterns For Beginners: The True Price Action Series ( Get this book )
To understand the importance of candlestick patterns and how investors use them, let’s go through each book and its important features.
#1 – How To Make Money Trading With Candlestick Charts – By Balkrishna M. Sadekar
The book was first published in 2015 and gave a step-by-step process and execution plan to earn money by implying powerful candlestick patterns and techniques.
Book Review
The book is one of the best candlestick pattern books for beginners and professional traders equally and focuses on how the Japanese have used candlestick techniques for over four centuries to make huge profits. The book first explains the fundamentals of candlestick patterns and then discusses how to make money. Finally, the author describes how to take advantage of high probability trades and eliminate the factors like gluttony, emotional interference, etc.
#2 – Candlestick Charting For Dummies – By Russell Rhoads
The book came out in 2008 and explained the candlestick patterns in the most basic format. It enables new traders or investors with minimum knowledge of the stock market to educate themselves.
Book Review
A basic introduction to price movement, complex indicators, support levels, trend lines, moving averages, and other ideas and terminologies are provided in the book. This book provides a helpful guide for investors and beginner traders who want to learn more about candlestick patterns. The author also demonstrates how to use indicators and candlestick patterns together. He thinks that with the proper use of candlestick patterns, one can profitably determine the best time to trade (buy or sell).
#3 – The Candlestick Course – By Steve Nison
The book was released in 2003, and the author Steve Nison wrote it so that anyone could understand the way candlestick patterns work and their importance.
Book Review
The complexity of the patterns and how investors may use them to profit from the stock market in ways beyond just the fundamentals have been clarified by the author. He has an excellent record for researching candlestick patterns and charts. The book provides readers with practical insights and proven methods to enhance their investment habits without excluding theoretical knowledge. It acts as a one-stop resource for anyone seeking new-age investing.
#4 – The Ultimate Guide To Candlestick Chart Patterns – By Steve Burns and Atanas Matov
The book was released in 2021 and hence shares a new age perspective covering all the historical examples for new investors to learn from.
Book Review
With more than 30 specific candlestick designs and illustrations, the book explains a candlestick. Additionally, the writers provide trading advice, exit and entry options, and exclusive insight on how to read, examine, and understand candlestick patterns. One of the authors, Steve Burns, has written six prior books and has been investing in the stock market for almost twenty years.
#5 – Don’t Trade Before Learning These 14 Candlestick Patterns – By P. Arul Pandi
The book was initially published in 2021 and gave out 14 candlestick patterns that every investor must know about. It is regarded as one of the best candlestick pattern books for traders.
Book Review
There are two sections to the book. The structure and terminology of candlesticks are explained in the first section. The second part teaches how to recognize patterns and events as well as how to interpret them. The author presents 85% possibilities with up to 80% win ratio when analyzing market fluctuations, moving averages, and timing. This book explains candlestick trading from basics to more advanced strategies, making it easier for beginner traders to get started and generate consistent profits in the stock, index, commodity, forex, and cryptocurrency markets.
#6 – Candlestick Charting Explained: Timeless Techniques For Trading Stocks And Futures – By Gregory L. Morris
The book was published in 1995, and it is known for elaborating on Japanese tools to explain price movements in financial and commodity markets.
Book Review
The book provides insightful explanations and useful illustrations of how an investor might use candlestick patterns to increase returns. The book primarily discusses the idea of price movement, including how it occurs and how an investor can understand it. The book also discusses several candlestick types and their significance in relation to each component of the financial markets.
#7 – 21 Candlesticks Every Trader Should Know – By Melvin Pasternak
The book was originally published in 2006, and the author has highlighted some of the crucial candlestick patterns for people who are new to this field.
Book Review
The book explains many important questions that beginner traders and investors frequently ask regarding the significance of candlestick patterns and what can be learned by studying them. The author discusses these patterns, selects the top 21 from more than a hundred patterns, and provides readers with a thorough explanation of each one.
#8 – Candlestick Patterns For Beginners: The True Price Action Series – By Derby Matoma
The book was released in 2021 and hence shares some of the new and unique concepts and examples for beginners to relate to about candlestick patterns.
Book Review
Beginners will learn how to recognize and analyze various candlestick patterns from the book, as well as the kinds of patterns to study and keep in mind when examining charts and other technical indicators. The author also discusses using candlestick patterns along with technical indicators to indicate correct and accurate investing methods and exact execution. Although it is not a theory book, it can be applied to real-world situations.
These are Top 8 Candlestick Pattern Books, which we have reviewed, discussed, and explained why beginners should read them.
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