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Chart Patterns (Bloomberg Market Essentials: Technical Analysis) (Bloomberg Financial)
 
 
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Chart Patterns (Bloomberg Market Essentials: Technical Analysis) (Bloomberg Financial) [Hardcover]

Bruce Kamich (Author)
3.9 out of 5 stars  See all reviews (7 customer reviews)

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Book Description

1576603008 978-1576603000 December 16, 2009 1
Chart Patterns gives traders the first step toward applying charting, one of the oldest and most widely used tools in the market. Once a trader learns to recognize the patterns in charts,charting becomes a truly powerful technical analysis tool. Flags, head-and-shoulder patterns, double bottoms, and more are detailed to help the trader know when a breakout is coming or when a trend is continuing. The Bloomberg Market Essentials: Technical Analysis series covers the key elements of technical analysis tools, bringing traders quickly up to speed on each method—what it is, how it works, and how to use it.

"Price is a fact. And price leaves patterns. This wonderful book will give the reader insights into what investors are really doing by identifying and following their buying and selling patterns. Learn about the pioneers who identified these patterns and where they typically form during a stock's normal life-cycle."—Ralph J. Acampora, CMT, Director, Altaira Wealth Management, S.A.

"Kamich's Chart Patterns is the perfect resource for those not yet using candlesticks, and for those who are. Whether you use Nison candlesticks or bar charts, the tactics and strategies you use in the market should be clear, and Kamich does a great job of detailing these. While candlesticks (if properly used) excel at giving reversals, they do not give price targets. And using price patterns is a prime way we determine targets for our clients."—Steve Nison, CMT, President, Candlestick.com, and author of Japanese Candlestick Charting Techniques

"Chart Patterns takes us through the thought process an analyst or trader should use. Kamich looks at myriad patterns, illustrating how they work, when they work, how to use them, and what to do when they don’t work. Any serious student of trading and investing will benefit from this methodical study of chart patterns."—Philip J. Roth, CMT, Chief Technical Market Analyst, Miller Tabak & Co, LLC


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Editorial Reviews

About the Author

Bruce M. Kamich is Vice President at Morgan Stanley Smith Barney's Technical Analysis Group and coauthors their flagship publication the Daily Technical Market Letter. He also teaches technical analysis to various Morgan Stanley Smith Barney trading desks. He is an adjunct professor at Baruch College and has also taught at Rutgers University, as well as being a guest lecturer on many other campuses. He has twice served as president of the Market Technician's Association (MTA) and is currently president of the MTA Educational Foundation. Kamich is also the author of How Technical Analyisis Works (NYIF/Prentice Hall Press, 2002).


Product Details

  • Hardcover: 208 pages
  • Publisher: Bloomberg Press; 1 edition (December 16, 2009)
  • Language: English
  • ISBN-10: 1576603008
  • ISBN-13: 978-1576603000
  • Product Dimensions: 9.5 x 6.4 x 1 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (7 customer reviews)
  • Amazon Best Sellers Rank: #454,942 in Books (See Top 100 in Books)

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Customer Reviews

7 Reviews
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Average Customer Review
3.9 out of 5 stars (7 customer reviews)
 
 
 
 
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12 of 12 people found the following review helpful:
1.0 out of 5 stars Is this all?, September 2, 2010
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This review is from: Chart Patterns (Bloomberg Market Essentials: Technical Analysis) (Bloomberg Financial) (Hardcover)
A rather thin book on different patters found in the bar chart (e.g. head and shoulder, triangles) using daily charts. This is classic territory, since the bar chart ruled the world before the candlesticks entered in the 90s. The patterns can naturally also be applied to candlesticks.

As a description of the standard patterns this book is as good as any, but since the patters have been described in very similar fashion for at least 50 years, I expected something more from this book. I would have liked (1) a description of why the patterns happens, (2) an insightful understanding of what has changed over time, or (3) a discussion of intraday charts. Maybe it wouldn't fit with the book's objective to deal with 5 min charts, but hourly charts should definitely have been covered. He states that he isn't really familiar with intra-day charts. I'd say it's time to learn!

I don't get the feeling that the author really "lives the markets". The book feels very mechanical and there is no passion in the author's voice. The author doesn't try to probe deeper by adding something novel in his book. He seems perfectly happy writing a book that could have been written 50 years ago. Out of the four people that recommend the book on the back cover, two are also thanked for their contribution to the book. It would have been much smarter to solicit reviews from people that were not involved in providing support to the author.

Alternatives?
The classic book on chart patterns is Technical Analysis of Stock Trends by Robert D. Edwards and John Magee. The latest version book is really too thick and I would advice to get an edition prior to the mid 1980s. (That's right - very old!). I find the latest editions really too wordy and messy. The old editions are also too wordy, but less so. In addition the old editions (at least the early 80s edition) are also beautifully bound - something that looks good in your bookshelf. That cannot be said about the latest ugly version.

I would also buy Brandt's "Diary of a professional commodity trader" (sorry product link does not work), which contains kind of a running commentary of which patterns are still useful, etc. Brandt considers himself an Edwards & Magee follower, but he also states that traditional chart patterns are no longer as valid in the past. More discussion on the topic throughout Brandt's book.
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15 of 16 people found the following review helpful:
5.0 out of 5 stars An Excellent Contribution to the Field, January 19, 2010
By 
This review is from: Chart Patterns (Bloomberg Market Essentials: Technical Analysis) (Bloomberg Financial) (Hardcover)
This is a well written, edited, and organized book on a subject close to advanced investors and active traders. The author focuses on the principal chart patterns that, having stood the test of time, predominate, and whose analysis can be rewarding. It is not an encyclopedia of chart patterns.

The author documents some of the historical background surrounding the use of chart patterns, an element that shows the author's indepth level of research in this subject. Each pattern is described and explained with excellent examples, and references are provided for those interested in further study.

The book is not the heavy, lengthy tome that often characterizes this subject. The writing is first class adding to its educational value and distinguishing it from the hard reading that often marks technical analysis. It is an excellent source to have in one's library.
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7 of 8 people found the following review helpful:
3.0 out of 5 stars Generic overview of the same old stuff, May 13, 2010
Amazon Verified Purchase(What's this?)
This review is from: Chart Patterns (Bloomberg Market Essentials: Technical Analysis) (Bloomberg Financial) (Hardcover)
This is just a generic overview of chart patterns. The information in the book does talk about more recent events such as the Lehman collapse and the recession of 2008. For just about every chart there are 3 pages of long-winded explanations. The author doesnt bring up any new ideas or patterns. Most of the information can be found for free over at investopedia if you are willing to do a little digging.
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