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Books on chart patterns
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Books on chart patterns

  #1 (permalink)
Normal Wizard
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Books on chart patterns

Hi what are some good books on chart patterns and technical analysis?

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Encyclopaedia of Chart Patterns by Thomas Bulkowski


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In my notes I have a reference to "Trade Chart Patterns Like the Pros" by Suri Duddella. I have seen it referenced on this site and it is on my reading list for some future time.

I should also mention I have a copy of "Reading Price Charts Bar by Bar" by Al Brooks that I intend to read shortly.

I should also add that I take all these resources with a grain of salt always. I try to extract new ideas but I am always aware that there is no silver bullet or perfect approach.


Last edited by snax; May 7th, 2019 at 01:10 PM. Reason: added detail.
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"The Only Astrology Book You'll Ever Need" has 4.5 stars based on 732 reviews on amazon so by any measure it is a "good" book on astrology.

It is not going to be good though if you actually are trying to study astronomy.

Buying pull backs in a trend works if the trend continues (flag)
When volatility contracts betting on the mean reversion of volatility works (triangle)

Not much else IMO. Certainly not enough to write a few hundred pages about.

I feel like Evidence Based Technical Analysis was an important book for me even though it is basically "Quantitative Astrology".


Last edited by centaurer; May 7th, 2019 at 07:16 PM.
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This seems accurate...

to me.

I bet I've read a hundred books on TA over the last 25-30 years....almost all of them 20-ish years ago. Some of them were interesting, a few of them were useful. BUT, one thing that I believe it is important for folks to hear is that there is no secret sauce or special incantation or perfect settings when developing some type of non-colinear confluence or hierarchy of elements designed to affirm a tertiary trade decision.

Dan



centaurer View Post
"The Only Astrology Book You'll Ever Need" has 4.5 stars based on 732 reviews on amazon so by any measure it is a "good" book on astrology.

It is not going to be good though if you actually are trying to study astronomy.

Buying pull backs in a trend works if the trend continues (flag)
When volatility contracts betting on the mean reversion of volatility works (triangle)

Not much else IMO. Certainly not enough to write a few hundred pages about.

I feel like Evidence Based Technical Analysis was an important book for me even though it is basically "Quantitative Astrology".


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TickedOff View Post
Hi what are some good books on chart patterns and technical analysis?

A billion years ago I read "Technical Analysis of Stock Trends" by Edwards and Magee. It's been through many editions, and it's still available on Amazon for about a scrillion dollars: https://www.amazon.com/s?k=Edwards+and+Magee&ref=nb_sb_noss_2

If you're talking about "pure" technical analysis of chart patterns, it has long been a major book. (I read and have the fifth edition; the current edition is the eleventh, so I don't know how it compares with or differs from what I read.)

Someone has mentioned Al Brooks in this thread. I recall somewhere that he mentioned Edwards and Magee as a reference for the type of technical analysis he does. In terms of the chart patterns and such, I think he is correct. (His trading tactics are his own.)

I don't recall this being an easy read. I do think it's going to give you all the "classic" chart patterns, so it that's what you want, that's what you will get.

I do agree somewhat with a few of the comments in this thread about the uncertain value of chart patterns, but that's something for each person to decide for themselves. If you want to recognize them when you see them, and to know what is "supposed" to happen after them, this book will give you what you are looking for.

For what it's worth, I am glad I read it, although honestly I can't say that I recall that much of the detail. But I do know a lot of stuff that I wouldn't know without it, and I look at charts a bit differently than I would otherwise. So that's at least a semi-rave review.

Bob.

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I was just journaling about my reading list! I have finished two of Al Brooks' books. Although I don't think the word finished really applies. I've read them but will be pouring through them for a little while. They were really good, but pretty densely packed. I had also mentioned Richard Schabacker in my journal entry. His book is called Technical Analysis and Stock Market Profits. I think it's what the cavemen used for their analysis...it's old but good. That was the first book I ever read on technical analysis and it provided a good basis for understanding everything I've read since then.

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Hi what are some good books on chart patterns and technical analysis?

Why just books?
Why not seminars, videos, even audio?

But...
The best teacher is Screen Time.
Just open a chart and watch it move.
Become it's friend, know it's rhythm, know what it's habits are.
It is a living creature!

A book of chart patterns is like a stuffed puppy.
Your child will cuddle it and play with it.
But when you give him a LIVE puppy it will love him back.

Sent using the futures.io mobile app

Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
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finding patterns is easy


trading them is not so easy . they do not teach that in books . most all patterns you are fading or taking the brake out of a trend line . if you do not know how to trade when price interacts with a trend line , adding a pattern to the mix will not help much.

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