June 2006
Beginner
352 pages
7h 6m
English
book
Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
by Michael N. Kahn
Content preview from Technical Analysis Plain and Simple: Charting the Markets in Your Language, Second Edition
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Bar Chart
The bar chart is the main market analysis tool in the western world and a key component of technical analysis worldwide. In East Asian countries, a form of charting called “candle charting” is the major tool, but the data series they both use are the same. Candle charts are covered in their own chapter at the end of this book.
Daily bars use open, high, low, and close data to summarize trading activity for each day. They are plotted together in a vertical line each day, as can be seen in Figure 4.1. Over time, the bars rise and fall to form the chart patterns that will be explained later.
Figure 4.1. Five-day Bar Chart of France Telecom
Figure 4.1 shows a five-day bar chart of France Telecom. The high and low prices are connected ...
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