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Russell Rhoads - Candlestick Charting For Dummies

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Candlestick Charting For Dummies: summary, description and annotation

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Want to gain a trading edge with candlestick charts? Find them a little confusing? No worries! Candlestick Charting For Dummies sheds light on this time-tested method for finding the perfect moment to buy or sell. It demystifies technical and chart analysis and gives you the tools you need to identify trading patterns and pounce!

This friendly, practical, guide explains candlestick charting and technical analysis in plain English. In no time, youll be working with common candlestick patterns, analyzing trading patterns, predicting market behavior, and making your smartest trades ever. Youll discover the advantages candlestick has over other charting methods and learn the secrets of combining it with other technical indicators. Youll also get familiar with different ways to display and interpret price action, including trend lines, support levels, resistance levels, moving averages, and complex indicators. Discover how to:

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    Candlestick Charting For Dummies by Russell Rhoads Candlestick Charting For - photo 1
    Candlestick Charting For Dummies

    by Russell Rhoads

    Candlestick Charting For Dummies Published by Wiley Publishing Inc 111 - photo 2

    Candlestick Charting For Dummies

    Published by
    Wiley Publishing, Inc.
    111 River St.
    Hoboken, NJ 07030-5774
    www.wiley.com

    Copyright 2008 by Wiley Publishing, Inc., Indianapolis, Indiana

    Published simultaneously in Canada

    No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, 222 Rosewood Drive, Danvers, MA 01923, 978-750-8400, fax 978-646-8600. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions.

    Trademarks: Wiley, the Wiley Publishing logo, For Dummies, the Dummies Man logo, A Reference for the Rest of Us!, The Dummies Way, Dummies Daily, The Fun and Easy Way, Dummies.com and related trade dress are trademarks or registered trademarks of John Wiley & Sons, Inc. and/or its affiliates in the United States and other countries, and may not be used without written permission. All other trademarks are the property of their respective owners. Wiley Publishing, Inc., is not associated with any product or vendor mentioned in this book.

    LIMIT OF LIABILITY/DISCLAIMER OF WARRANTY: The publisher and the author make no representations or warranties with respect to the accuracy or completeness of the contents of this work and specifically disclaim all warranties, including without limitation warranties of fitness for a particular purpose. No warranty may be created or extended by sales or promotional materials. The advice and strategies contained herein may not be suitable for every situation. This work is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If professional assistance is required, the services of a competent professional person should be sought. Neither the publisher nor the author shall be liable for damages arising herefrom. The fact that an organization or Website is referred to in this work as a citation and/or a potential source of further information does not mean that the author or the publisher endorses the information the organization or Website may provide or recommendations it may make. Further, readers should be aware that Internet Websites listed in this work may have changed or disappeared between when this work was written and when it is read.

    For general information on our other products and services, please contact our Customer Care Department within the U.S. at 877-762-2974, outside the U.S. at 317-572-3993, or fax 317-572-4002.

    For technical support, please visit www.wiley.com/techsupport.

    Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books.

    Library of Congress Control Number: 2008923126

    ISBN: 978-0-470-17808-9

    Manufactured in the United States of America

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    About the Author

    Russell Rhoads is a trader and analyst for Peak Trading Group in Chicago. His career in trading and market analysis covers over 17 years. He has a BBA and MS in Finance from the University of Memphis and has done graduate level work in Financial Engineering at the Illinois Institute of Technology. Russell also holds the Chartered Financial Analyst designation.

    Dedication

    To Bobbie, Dusty, Maggie, Emmy, and especially Merribeth.

    Authors Acknowledgments

    The most thanks must go to my wife Merribeth who through a very difficult year, that included producing this book, always was willing to yield to the time I needed to complete this project. Maggie, my daughter, was also always a helpful participant by working quietly alongside of Daddy when he needed to work. To Emmy, who discovered how to push buttons while this book was being written, thanks for not turning the computer off when Daddy hasnt saved his work.

    Thank you to a few current professional associates whove been very helpful recently: Mike Wilkins, Bill Annis, and Patrick Guinee. Also, there are some people that I professionally lost touch with that helped guide my career, and I feel Ive never properly thanked them: R. Patrick Jones, Mickey Hoffman, and Michael Orkin. These people stand out the most in my mind, so Im taking this opportunity.

    As far as the mechanics of putting the book together, Stacy Kennedy, Acquisitions Editor, Chrissy Guthrie, Senior Project Editor, and Carrie Burchfield, Copy Editor, were extremely helpful for this non-writer. Tim Brennan, the technical editor, did an excellent job pointing out areas that needed some improvement. Brittain Phillips gets a special thank you for taking what Im trying to say and making it readable. Also, I cant go without acknowledging Michelle Hacker, Editorial Manager, who introduced me to the people at Wiley Publishing, Inc. Without her I never wouldve had the chance to produce a book.

    Publishers Acknowledgments

    Were proud of this book; please send us your comments through our Dummies online registration form located at www.dummies.com/register/.

    Some of the people who helped bring this book to market include the following:

    Acquisitions, Editorial, and Media Development

    Senior Project Editor: Christina Guthrie

    Acquisitions Editor: Stacy Kennedy

    Copy Editor: Carrie A. Burchfield

    Editorial Program Coordinator: Erin Calligan Mooney

    Technical Editor: Tim Brennan

    Editorial Manager: Christine Meloy Beck

    Editorial Assistants: Joe Niesen, David Lutton, Leeann Harney

    Cartoons: Rich Tennant (www.the5thwave.com)

    Composition Services

    Project Coordinator: Katie Key

    Layout and Graphics: Carl Byers, Reuben W. Davis, Alissa D. Ellet,Stephanie D. Jumper

    Proofreaders: John Greenough, Penny Stuart

    Indexer: Potomac Indexing, LLC.

    Special Help: Tim Gallan, Natalie Faye Harris, Megan Knoll

    Publishing and Editorial for Consumer Dummies

    Diane Graves Steele, Vice President and Publisher, Consumer Dummies

    Joyce Pepple, Acquisitions Director, Consumer Dummies

    Kristin A. Cocks, Product Development Director, Consumer Dummies

    Michael Spring, Vice President and Publisher, Travel

    Kelly Regan, Editorial Director, Travel

    Publishing for Technology Dummies

    Andy Cummings, Vice President and Publisher, Dummies Technology/General User

    Composition Services

    Gerry Fahey,

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