Stocks & Commodities V. 28:1 (38-43): Crude Oil And Candlesticks by Gary S. Wagner
Product Description
Crude Oil And Candlesticks by Gary S. Wagner
The rise and fall of oil prices have a global effect on all aspects of the markets. Here we look at this historical price movement through the eyes of candle patterns.
he underlying psychology of market sentiment is a complex structure. It is difficult to understand and more difficult to explain. Fundamental analysis can be best expressed through words, interpreting how new information might bring about change in market price, while technical analysis uses mathematics to explain price movement. All market analysts distill information from which they formulate their assumptions. The master market technicians will use a mixture of both for successful trading. What we call Japanese candlestick charts and patterns are the results of a trading system created hundreds of years ago and refined into its current form. The Japanese technician was one of the first to describe market sentiment as a battle between the bulls and bears. The outcome of the battle can be mathematically expressed as a single candlestick.
TRADER'S ATTITUDE
The candlestick technique teaches us to identify the trader’s attitude about the market. It is one of our earliest attempts to explain how traders believe a market will act. These patterns are the culmination of the original concept that over time were turned into identifiable patterns. By learning to identify these patterns, you can discover a systematic approach to recognizing both trends and reversals of the price of any stock or commodity.
The rise and fall of oil prices have a global effect on all aspects of the markets. Here we look at this historical price movement through the eyes of candle patterns.
he underlying psychology of market sentiment is a complex structure. It is difficult to understand and more difficult to explain. Fundamental analysis can be best expressed through words, interpreting how new information might bring about change in market price, while technical analysis uses mathematics to explain price movement. All market analysts distill information from which they formulate their assumptions. The master market technicians will use a mixture of both for successful trading. What we call Japanese candlestick charts and patterns are the results of a trading system created hundreds of years ago and refined into its current form. The Japanese technician was one of the first to describe market sentiment as a battle between the bulls and bears. The outcome of the battle can be mathematically expressed as a single candlestick.
TRADER'S ATTITUDE
The candlestick technique teaches us to identify the trader’s attitude about the market. It is one of our earliest attempts to explain how traders believe a market will act. These patterns are the culmination of the original concept that over time were turned into identifiable patterns. By learning to identify these patterns, you can discover a systematic approach to recognizing both trends and reversals of the price of any stock or commodity.
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