Here is a treasure trove of easy to use tools for mapping your
course through today’s market. Whether you’re using online charts
or a professional charting software program, these techniques from
master technician John Murphy can increase your trading success.
‘One of the greatest benefits of technical analysis is its
applicability to any and all markets … charts can be an extremely
valuable tool-if you know how to use them. This booklet is a good
place to start learning how.’
–from the foreword by John Murphy
Renowned market technician John Murphy presents basic principals
of technical analysis in easy-to-understand term.
He covers
* All types of chart analysis
* ‘Need to know’ concepts, including trendlines, moving averages,
price gaps, reversal patterns, volume & open interest spreads,
and more!
* Price forecasting and market timing applications
* A full resource guide of technical analysis aide
* How to use the industry’s top tools to obtain a better
understanding of what charts can do-and how they can help you grab
your portion of today’s trading profits.
Table des matières
Introduction ix
Chapter 1. WHY IS CHART ANALYSIS SO IMPORTANT? 1
Market Timing 2
Chapter 2. WHAT IS CHART ANALYSIS? 3
Charts Reveal Price Trends 4
Types of Charts Available 5
Any Time Dimension 5
Chapter 3. HOW TO PLOT THE DAILY BAR CHART 7
Charts Are Used Primarily to Monitor Trends 7
Chapter 4. SUPPORT AND RESISTANCE TRENDLINES AND CHANNELS 9
Chapter 5. REVERSAL AND CONTINUATION PRICE PATTERNS 13
Reversal Patterns
The Head and Shoulders 13
Double and Triple Tops and Bottoms 14
Saucers and Spikes 15
Continuation Patterns
Triangles 16
Flags and Pennants 20
Chapter 6. PRICE GAPS 23
Chapter 7. THE KEY REVERSAL DAY 25
Chapter 8. PERCENTAGE RETRACEMENTS 27
Chapter 9. THE INTERPRETATION OF VOLUME 29
Volume Is an Important Part of Price Patterns 30
On-Balance Volume (OBV) 30
Plotting OBV 31
OBV Breakouts 32
Other Volume Indicators 32
Chapter 10. USING DIFFERENT TIME FRAMES FOR SHORT- AND LONG-TERM VIEWS 35
Using Intraday Charts 35
Going from the Long Term to the Short Term 36
Chapter 11. USING A TOP-DOWN MARKET APPROACH 39
The First Step: The Major Market Averages 39
Different Averages Measure Different Things 40
The Second Step: Sectors and Industry Groups 41
The Third Step: Individual Stocks 41
Chapter 12. MOVING AVERAGES 45
Popular Moving Averages 45
Bollinger Bands 46
Moving Average Convergence Divergence (MACD) 46
Chapter 13. OSCILLATORS 47
Relative Strength Index (RSI) 47
Stochastics 47
Any Time Dimension 49
Chapter 14. RATIOS AND RELATIVE STRENGTH 51
Sector Ratios 51
Stock Ratios 51
Market Ratios 52
Chapter 15. OPTIONS 53
Option Put/Call Ratio 54
Contrary Indicator 54
CBOE Volatility Index (VIX) 54
Chapter 16. THE PRINCIPLE OF CONFIRMATION 55
Chapter 17. SUMMARY AND CONCLUSION 57
Investing Resource Guide 59
A propos de l’auteur
John J. Murphy has authored three best-selling books on technical analysis, including Intermarket Technical Analysis and The Visual Investor. His latest work, Technical Analysis of the Financial Markets(1999), is a revised edition of his 1986 classic which has been translated into eight languages. He is president of MURPHYMORRIS.COM which produces interactive educational products on technical analysis and online analysis for investors. As the former host of CNBC’s Tech Talk show and a speakeer at all the major trading and investment forums and conferences around the world., Mr. Murphy is one of the most recognized and highly respected technical analyts of our time.
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