The Secret to Candlestick Charting by Louise Bedford Book Review and Summary

Louise Bedford wrote a great book called “The Secret to Candlestick Charting”. This book will help you identify profit opportunities by analysing candle sticks.

There are different levels of analysis when it comes to analysing the sharemarkets and forex. The highest level is viewing chart patterns in the market. This is all about identifying the overall macro patterns in the market such as yearly, monthly and daily charts.

Chart patterns can range from double downs, double tops, cup and handles and more. Louise Bedford also wrote another book called Chart Patterns which covers this topic in greater detail.

The next level is analysing the charts using candlesticks.

Candlesticks was initially utilised by the Japanese as a form of accounting. This eventually spawned into the West and was later applied into the markets.

By analysing Candlesticks, you are viewing the market through a micro perspective according to price action. We can speculate the market all we want and use indicators, which lag, but to get a real time sentiment of the market, candlesticks are the way to go.

Louise Bedford gives us plenty of examples of the various candlesticks that exists in the market. There’s quite a lot to go through however I find that there’s a few candle stick patterns that always have a high probability of success.

In my experience, my favourite candles that tend to work well for me are the doji, hammer, engulfing and 3 soldiers. I’ve personally traded the market purely by candle sticks and found them to be invaluable tools to help you increase your probability of success in the markets.

The book comes with plenty of exercises where you can retain your learning upon the analysis of each candle stick pattern. I find that this method of writing down what you’ve learnt and taking notes help you remember these patterns a lot more effectively.

This goes to show that Louise genuinely cares for your success in the markets.

The Secret to Candlestick Charting by Louise Bedford is a great book that you can quickly reference and understand the short term movements of the markets and is highly recommended for any trader who’s serious in making consistent profits in the market.

Stay Strong and Be Relentless.

Khoa Bui

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Author: Khoa Bui

Khoa Bui is an author, trainer and chief editor of YouBeRelentless. He enjoys reading books on self development, success, productivity, money, relationships and leadership. When he’s not writing, he likes to enjoy a glass of red wine with a fine cuban cigar while watching the entire season of Entourage. You can check out Khoa’s work at www.khoa-bui.com.

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