April 10, 2016 Moses Stock Analysis
Candlestick, Japanese Candlestick
In the west, astrology was used to read the future. In trading, Japanese candlestick is used as early as 17th century. Traders use candlestick to predict where the market is going, up, down or sideways. In December 1989, Steve Nelson wrote an introductory article on candlesticks. Steve introduced to the Western world in his book, Japanese Candlestick Charting Techniques.
High profit trading, Candlestick signals are more predictable. Candlestick is also called Japanese Candlestick sometime, as its development was credited to Japanese rice merchant Homma Munehisa (1724 – 1803). Homma is sometimes consider to the father of candlestick chart. He is consider to be the most successful Price Action trader in history. He was a rice merchant from Sakata, Japan. Homma traded in the Dojima Rice market in Osaka during the Tokugawa Shogunate.
In 1755, Homma wrote a book “The Fountain of Gold: The Three Monkey Record of Money”. He claims that the psychological aspect of the market was critical to trading success.
Candlesticks incorporate opening, closing, high and low prices. The four pieces of information tell us immediately the emotional of the market that is, bullishness, bearishness or indecision. In recent year with the computer, they are easily colour coded so that the emotion of the market become obvious.
I Ching 易經
Next discussion I Ching, Chinese divination. Please check this site for more.
Moses Stocks Analysis and Scan
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