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|White soldiers is a bullish formation of three or more consecutive candlesticks moving upward and found after a downtrend. Each session opens within the range of the previous session and then closes higher. Amazingly, Bulkowski’s research concluded that the white soldiers leads to reversal 82 percent of the time. That makes this one of the best candlestick indicators.|
|Black Crows is the opposite of white soldiers. This one is a bearish formation found after an uptrend. It consists of three or more sessions, each opening within the range of the previous session and then closing lower. Bulkowski concluded that black crows will lead to reversal 78 percent of the time it is found.|
|In a bullish engulfing pattern, found after a downtrend, a black session is followed by a white session that opens lower and then closes higher. This leads to reversal 63 percent of the time, which is better than the 50-50 random outcome, but not as strong as some others, such as the bearish variety.|
|The bearish engulfing is opposite of the bullish. Found after an uptrend, a white first session is followed immediately by a black that opens higher and then closes lower. This one leads to reversal 79 percent of the time.|
| || 1. Dragonfly doji. |
This one, charted on Google (GOOG), is found on page 81. What makes it special is the nice confirmation. The dragonfly doji anticipated a downtrend, but just before it appeared, a second bearish signal--piercing lines--also appeared. These two signals together were exceptionally strong bearish warnings. In fact, they came right before Google’s price fell 70 points.
| || 2. Black crows. |
This is one of the more reliable of patterns. On page 47, the chart of Wal-Mart (WMT) demonstrated how the pattern appears. In fact, in about 45 days, black crows indicators showed up three times. Each signaled short downturns in price. It is unusual to find an example when such a pattern appears three times, making this one noteworthy.
| || 3. Bear abandoned baby. |
I really like the name of this indicator. Like so many candlesticks, the name itself is descriptive of the appearance. This one consists of a white session, an upward gap and then a narrow-range day, then a downward gap and finally, a black session. In the chart on page 37, Cisco Systems (CSCO) started out with a bearish abandoned baby. But it was followed by a delayed reaction in which the price rose. But ignoring a bearish signal like this can be dangerous, as the chart revealed. About 11 sessions after the abandoned baby, a large downward gap set up a new, much lower trading range in the stock.
Bloomberg Visual Guide to Candlestick Charting
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"It is refreshing to find a book that tackles a complex topic like candlestick chart interpretation and makes it crystal clear. Every chartist and technician should keep this book close at hand. The alphabetical and visual combination makes this the book of choice on candlestick charting."
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The Bloomberg Visual Guide to Candlestick Charting is designed for anyone who wants to know more about this effective way of visualizing price movements. Written by acclaimed financial expert Michael C. Thomsett, the book serves as a guide to the most frequently used charts. Arranged in an easy-to-use manner, it provides a quick reference for those looking to learn more about candlestick charts as well as those entering the field for the first time. Highly visual and arranged alphabetically, the book features over two hundred candlestick and related terms, making it an invaluable resource that presents sometimes confusing concepts in a format that is easy to understand and digest.
The Bloomberg Visual series covers today's most relevant finance and trading topics ina comprehensive, yet easy-to-follow style.The content truly lives up to the series nameby examining concepts in a highly visualmanner—all charts are in color and presented in a large format for ease of use. Other strong visual attributes include consistent elements that function as additional learning aids for the reader, such as: Key Points, Definitions, Step-by-Step, Do It Yourself, and Bloomberg Visual series functionality.
And for e-reader users, the Bloomberg Visual series is available as an enhanced e-bookoffering special features, like a Test Yourself section where you can test your newly honed knowledge and skills. The enhanced e-book version also includes video tutorials and special pop-up features. It can be purchased wherever e-books are sold.See all Editorial Reviews
This was a great book to read as a stand alone and as supplemental reading. It's simple, clear, concise, and very helpful. Great for novicePublished on March 20, 2013 by RRA