Trade Chart Patterns Like The Pros

[Soultrader 12]

After receiving this book from Suri Duddella himself (author), I must say I was highly impressed. Previously reading two volumes of Bulkowski's, Encyclopedia of Chart Patterns, I was quite stunned to learn various chart patterns I was never exposed to. Suri's book contains over 65 chart patterns, most of which was new to me. For a purely technical based trader relying on pattern recognition, this book is a gold mine. Packed with illustrated charts, Suri goes into depth on entries and exit points as well.

 

From NR7 breakouts, Globex pivots, channels, M & W patterns, etc... Trade Chart Patterns Like The Pros explains things easily even for the novice trader. There are alot of technical analysis books out there on the market but this book was perhaps one of the easiest to understand. I recall reading Technical Analysis of Stock Trends by Edwards and Magee my first month entering the trading world and it was quite overwhelming.

 

I personally am not a chart pattern based trader but many intraday traders I come across here in TL have done an amazing job trading intraday technical patterns. I highly recommend this book for both the seasoned and novice trader to expand your knowledge of technical price patterns.

 

A few examples of patterns explained in the book:

 

1. Three Hills and a Mountain Pattern

2. Bearish and Bullish Bat Pattern

3. Fractal Pattern (interesting reversal pattern)

4. Various Channels (rectangle, donchian)

5. Symmetry Patterns

6. 3 Bar Patterns (MSL and MSH)

[Soultrader 12]

Stocks and Commodities Magazine (Nov. 2007, Books for Traders)

 

"This is a collection of chart patterns by real traders to make real trades. The idea is that knowledgable traders recognize patterns that have led to successful trades, and once you can recognize the patterns your trading will improve. This book is not a collection from random stories or highly tweaked magic oscillators. Infact, there are no oscillators in the book. It concentrates on making it possible for you to see and understand the pattern, and then use that knowledge to make money in the markets."