Thanks zenemini. I'm going to have to go away and have a think about what's been said, see if I can make some sense of it all. The market, as I'm seeing it on a chart like the one above, seems to be quite volatile (squiggly - for want of a better description) in any given area, before moving on and repeating the same action. I'm thinking it's clearing out/exchanging contracts at the squiggly areas because of the volume produced, but like I say, I'll have to look into this properly. Who knows, I may actually get to place a trade this year (wishful thinking) Trade well guys and thanks for the help!
I know this thread is getting old But “Steve Nison” work for understanding candles. Books or videos Some of his video stuff can be found on youtube also if you’re willing to dig deep enough. “Technical Analysis of stock trends” by “Edwards and Magee” for chart patterns. Since you mentioned online PDFs Nook version of this is only $15 bucks. Also if you live in a big city/metro you might be surprised by what your library has.
All the books mentioned here in this thread except for 1 + all the 100 I personally read, throw 'em all in a bundle and drop kick out the window. I did this, then had 5 beers and never looked back. You gots to take this like a college course of dedicated study/work to build yourself a foundation of strength. Technical Analysis of stock trends, 10 edition is not an easy book, it takes months/years to study, so therefore nobody at ET would ever bother with such a book because you don't need it at a dating/socializing site where nobody trades but they love to talk and teach it. Do it or don't do it, don't matter to me. But I wish I had some cat tell me years ago, don't buy any of these useless books. The editor of TA of stock trends is none other than Professor Charles Bassetti, Golden Gate University, San Francisco, student of Edwards/Magee, cott the trend from 2009 and is still LONG, while these retards at ET jump in and out like premature ejaculators on the 1-min chart. Yawn! http://www.edwards-magee.com/
Charles also wrote the STAIR STEP TREND following technique, a significant improvement to Dow Theory, which currently still has not given a sell signal, but Dow Theory HAS DONE so. Stair steps can be ordered separately although I recommend the entire package. What a waste Casting pearls ........................