Steve Nison Candlestick Course 3 Candlestick Charting Techniques

Steve Nison Candlestick Course 3

Candlestick charts are technical tools that consolidate data for multiple time frames into a single price bar. Candlestick charts are more useful than traditional open and high, low, and close bars instead of simple lines that connect closing prices. Once completed, candlestick charts create patterns that predict price direction. Color coding adds depth to this colorful technical tool, dating from the 18th century and used by Japanese rice traders.

In his popular 1991 book, “Japanese Candlestick Charting Techniques,” Steve Nison introduced candlestick charts to the western world. 

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Traders are now able to identify dozens of these formations, which have colorful names, such as bearish dark cloud cover, evening star, and three black crows. In addition, single bar patterns such as the Doji and hammer have been incorporated into dozens of long-side and short-side trading strategies.

Accept many small losses and stay still for few large gains

– Antoroy

Steve Nison candlestick course

Steve Nison’s candlestick course is the acknowledged western authority on Japanese candle charting. Traders can learn Steve Nison Candlestick Course from two internationally bestselling books, Japanese Candlestick Charting Techniques and Beyond Candlesticks, both of which have been translated into eleven languages.

Holisticly deploy enterprise.

00:00​ – Steve Nison explained trading triad

03:53​ – Windows the continuation patterns

04:10​ – Rising Window

06:40​ – Falling Window

09:12 – Mind the Gap

10:05​ – Example of rising windows

11:00​ – Theory of Falling window

13:45​ – Whole days action

17:37​ – Trading signals – High wave candle

18:33​ – Large window – big window

22:30​ – Powerful techniques

22:50​ – Powerful techniques of breakaway gap

24:40​ – Island top

26:07​ – Japanese candlestick charting technicals

28:55​ – Trend lines – Support/Resistance

29:10​ – Support and Resistance lines

31:00 – Western technical techniques

31:00 – Support Lines

35:23 – Change of polarity

Steve Nison’s biography 

He holds an MBA in Finance and Investments. Steve Nison was among the first to receive the designation of Chartered Market Technician (CMT) from the Market Technicians Association (MTA) and was nominated for the MTA’s “Best of the Best” for Price Forecasting and Market Analysis.

Theory of window:

In Japanese candlestick charting techniques, a Window is a space between the real bodies of two candles where their shadows do not overlap.

Rising Window Candlestick Pattern:

The Rising Window candlestick pattern depicts a price gap in an upward trend. This is a gap pattern. There are no frills or embellishments. It is a simple gap-up candlestick pattern. It is always a bearish signal when the price trend is rising the market price, and it occurs as a result of rising windows. This is a powerful trading signal.

Falling Window Candlestick Pattern:

The Falling Window candlestick pattern represents a price gap in a downward trend. This is a gap pattern. There are no frills or embellishments. It is a gap-down candlestick pattern. Falling Windows must occur when the price trend is falling, and it is always a bearish signal.

Japanese candlestick charting technicals

Charting techniques based on Japanese candlestick charts arose in Japan over a century before the West developed bar and point-and-figure charts. As Munehisa Homma discovered in the 1700s, while there was a relationship between the price of rice and its supply and demand, the markets were also heavily influenced by emotions.

With the help of Japanese candlestick charting, that emotion can be visually represented through different colors that represent the size of price moves. A candlestick trader uses the candlestick patterns to make trading decisions based on patterns that are regularly occurring and forecast the price direction in the short-term.

Trend lines – Support/Resistance

The angled and horizontal lines that define the three levels of support and resistance are called trend lines. The market price reverses and stalls in the same area on two consecutive occasions in succession, and a horizontal line is drawn to indicate that the market is struggling to move beyond that area.