| Superb book, exceptionally
well written. Both the most comprehensive book on and a
standard reference for technical analysis. Provides
clear and lucid coverage of all major analytical
techniques. Major emphasis on charting as a basis for
price forecasting and trading. Selected by Market
Technicians Association as one of two basic texts for
those wishing to qualify as a Chartered Market
Technician. 556 pgs.
The following is quoted from the dust cover:
Designed to meet the need for a logical, sequential
reference on the subject, this book describes-for
beginners and more experienced traders alike---the
concepts of technical analysis and their applications.
In a down-to-earth style. John J. Murphy interprets the
role of technical forecasters and explains how they
apply their techniques to the futures markets.
The book starts with a discussion of the rationale for
and premises of technical analysis in demonstrating how
to track market behavior, it illustrates the full gamut
of methodologies---from Dow Theory's first application,
almost a century ago, to the latest computer technology.
Building on the basic concepts of charting theory, the
book shows how to construct daily bar and
point-and-figure charts and demonstrats the uses of
longer-range continuation charts in revealing tend and
price patterns. You will gain an understanding of
support and resistance, key reversal days,
head-and-shoulders patterns, flag and pennant patterns,
Elliott Wave theory, and the analysis of volume and open
interest as indicators of trend changes Moving averages
and oscillators of trend changes. Moving averages and
oscillators also are explained and illustrated.
Cyclic theory, the chartist's valuable tool for
factoring in the dimension of time in analyzing trends
and patterns, permits the analyst to predict how the
market is moving, how far it is likely to go, and when a
move is likely to end. Extensive charts examples show
you how time cycles enhance the effectiveness of the
various technical tools.
The book concludes with an especially useful discussion
of the respective roles, in the trading process, of
analysis, timing, and money management. It also cites
relevant bibliographies---both at the end of each
chapter and at the book's end.
Table of Contents
Philosophy of Technical Analysis
Dow Theory
Chart Construction
Basic Concepts of Trend
Major Reversal Patterns
Continuation Patterns
Volume and Open Interest
Long-Term Charts and Commodity Indices
Moving Averages
Oscillators an Contrary Opinion
Intra-Day Point and Figure Charting
Three-Box Reversal and Optimized Point and Figure
Charting
Elliott Wave Theory
Time Cycles
Computers and Trading Systms
Money Management and Trading Tactics
Checklist for Putting it all Together
Spread Trading and Relative Strength
Trading of Options
W.D. Gann: Geometric Angles and Pecentages
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