Before beginning a study of the actual techniques and tools used in technical analysis, it is necessary first to define what technical analysis is, to discuss the philosophical premises on which it is based, to draw some clear distinctions between technical and fundamental analysis and, finally, to address a couple of criticisms frequently raised against the technical approach.

This is one of the few books that will remain on your books collection, an highly recommended for all any type of traders. FOR WHAT IT IS INTENDED - an excellent reference on technical analysis.

It covers all the basic aspects of Technical Analysis: philosophy, chart construction, fundamental vs. technical analysis, trends, major technical pattern recognition, moving averages, oscillators, times cycles, computer trading systems and much more. He also covers different methods of charting, including bar, point and figure and candlestick. What you must know about trends and the building blocks of chart analysis; price patterns, including major reversal and continuation patterns; methods of analysis - moving averages, oscillators, contrary opinion, and other indicators; and time cycles, market interrelationships, money management, and trading tactics

This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.

it written clearly, simply and logically. It uses many graphical examples that SHOWS the reader what to look for. It does not rage on about the merits of Technical Analysis (which many investors feel is complete hooey) but how to apply basic (and sophisticated) Technical Analysis techniques.

It expands upon and updates Murphy's classic Technical Analysis of the Futures Markets. Packed with some 400 real-life charts that clarify every key point, it covers: the fundamentals of technical analysis and chart construction;." "Beginners and experienced traders alike will find a wealth of immediately useful information in this authoritative, yet easy-to-follow guide."

If one could read only one book on technical analysis, this should be the one. And if you need further reading about other John J. Murphy's Technical Analysis book you could look my older post CLICK HERE

Happy charting!

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