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Ichimoku Charts: An introduction to Ichimoku Kinko Clouds (Harriman Trading) Kindle Edition
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Top Customer Reviews
Elliott's book is much better, but it is not for everyone. This book is written for a very specific audience -- professional technical analysts who want to understand what their Japanese competitors are doing. If that's your situation, this is the book for you; otherwise look elsewhere.
Because of the book's intended audience, it has almost no discussion of trading. It simply discusses the indicator and how a Japanese analyst would interpret it. If you work at the forex desk of a bank, this information will help. If you are the typical trader, it won't.
Regrettably, there are no truly outstanding English books on the subject. If you can read Japanese or work with someone who does, you should just get Hidenobu Sasaki's Ichimoku Kinko Studies (Toshi Raider Publishing 1996). Otherwise, as of 2010, this seems to be the best book on the subject available.
I'll provide a brief overview of the book's contents for those considering it:
After a brief historical overview in Chapter 1, the book spends Chapter 2 explaining how the charts are constructed. The information available on the internet is probably better, but one important difference this chapter brings out is that the Tenkan-sen and Kijun-sen lines are constructed as moving averages of daily midpoints (halfway between the daily high and low).Read more ›
Nicole Elliot's book on Ichimoku Charts (aka Cloud Charts) completely fails at methodically building up the reader's knowledge of the theory, practical application, and utility of each component of the chart. Without a thorough grounding in the building blocks of Cloud charts it becomes impossible to interpret these charts and extract their value.
I was drawn to Cloud charts because of my great desire to find a chart that would incorporate extremely powerful Japanese Candle Stick analysis, but also "supposedly" have built in moving averages and even make use of Fibonacci number sequences. The former combination seems like it would make for a robust technical tool if only it could be explained / decoded using a modicum of plain english.
As someone who developed a real passion for technical analysis from reading the extremely well written works of Steve Nison and John Murphy, Nicole Elliot's book completely fails to transmit any meaningful knowledge of Cloud charts to the reader.
I don't even think the books title is appropriate as one could get the same depth of Nicole Elliot's "introduction" or "pamphlet" on Ichimoku charts through a Google search of free articles on the web.
I still believe these charts hold real promise if the right author comes along to unlock their value for interested readers.
The only other book published on the subject is in Japanese, and is over 300 pages. Unfortunately, I am an English only person.
Anyway it is worthy reading this book since there is not enough material regarding Ichimoku.
Most Recent Customer Reviews
learning these charts can be challenging. This book really goes into to details about the Ichimoko charts. Its very helpfulPublished 24 days ago by Rhoseanda Tookes
Best book on the Ichimoku clouds. A lot of practical tips from a professional trader. Very practical if you understand what Nicole is saying and you use your creativity to combine... Read morePublished 16 months ago by Amazon Customer