April 2008
Beginner to intermediate
358 pages
11h 48m
English
Content preview from Candlestick Charting For Dummies®
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Chapter 14
Using Technical Indicators Alongside Bullish-Trending Candlestick Patterns
In This Chapter
Combining trendlines with bullish-trending candlestick patterns
Making profitable trades with moving averages and bullish-trending candlestick patterns
You can combine candlestick patterns effectively with a variety of technical indicators to produce information that helps you decide when to put on and get out of trades. Like candlestick patterns, many technical indicators tell you when a trend is about to reverse, but several others can let you know that a prevailing trend continues. These indicators are powerful weapons that can add to the versatility of your trading arsenal.
If you understand how to use technical indicators in tandem with bullish-trending candlestick patterns, it’s easier for you to spot situations where buying to enter a long position is a wise move. And you can also use technical indicators to confirm market or individual security predictions that you’ve made based on candlestick patterns.
I cover all that and more in this chapter, and I focus my discussion on two of the most common technical indicators: trendlines and moving averages. If you need a refresher on those two indicators, flip back to Chapter 11. If you have a basic understanding of how they’re ...
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.