instrument. The reason I recommend reading this book over more well know candlestick charting books, is because everything in this book is explained in a very simple easy to use way, which makes it ideal for beginning price action traders. What Ive always liked about this book is the focus on the inner mechanics of how financial markets works. While Al Brooks describes a system of analysis with less focus on exact trading setups, Bob Volman explains seven clear trading setups. In simple terms, support is defined as the price level where price has bounced up from after it had been moving downwards. Although volume is a key ingredient in Dow Theory, most traders find it hard to truly understand the impact of volume in their trading. And notably, Al Brooks does not feature volume in his trading methods.
A Complete Guide to Volume Price Analysis by Anna Coulling I decided to include this book because many price action traders use volume in their price analysis. Encyclopedia of Chart Patterns by Thomas Bulkowski Wondered if chart patterns are reliable? Many traders place their stop just beyond these levels and often times traders will be hit by a stop run that takes them from their trades and then price movement continues in the direction the trader wanted. Price Action Trend Determination, one of the basic ways of using the movement of price is to determine the trend of the market you are looking. After explaining the dynamics of market structure, it zooms in on uncluttered charts and explains clear trading setups while highlighting the art of trading. Little attempted in his book is commendable. In fact the foreword of the book contains a piece written by Paul Tudor Jones ( another really famous forex beanie baby value finder trader ) in which he says Investment strategies from the man Barrons calls The Ultimate Wall Street Pro Victor Sperandeo is gifted with one of the.
It is organized and concise. Bob Volman focuses on a specific price action trading style that is not suitable for everyone. While information on candlestick patterns is easily found online for free, they are loosely organized and hardly comprehensive.
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