In The Forex Chartist Companion, authors and active Forex traders Michael Archer and James Bickford provide a visual window into the behavior of the Forex market along with detailed information on the mechanics of day trading, market entry timing, and much more. With this book as your guide, you’ll not only become familiar with innovative software and charting systems that provide a graphical interpretation of the markets, but you’ll also discover how to instantly see patterns throughout those markets.
There are six major divisions in this book:
Part I: Much of the material in this section originally appeared in a collection of technical currency studies called Forex Charting Companion: Innovative Charting Techniques for Currency Traders by the same co-authors. Many of the charts along with the corresponding data have been revised to reflect the current personality of the spot currency market.
Part II: Point and figure (P&F) charting was invented in the 1890s and has since evolved into a highly respectable technical analysis tool for detecting market entry signals. Although P&F was originally designed for use on the stock exchange, all the examples in Part II focus directly on the spot currency markets (with some startling results). This section is actually a revised update of The Point & Figure Chartist’s:Companion: The Computer- Side Reference for Currency Traders and Analysts, also by the co-authors..
Part III: Like their sibling P&F charts, swing charts are also members of that genre of charts normally referred to as reversal charts. Their shared advantage is their ability to filter out minor price fluctuations and highlight the critical inflection points in a price chart. This section is also an update of an earlier work entitled The Swing Trader’s Companion: The Computer-Side Reference for Swing Traders and Analysts.
Part IV: Both Western and Japanese reversal charts are examined in detail in this section. Knowledge of unusual and exotic charting techniques can only benefit the currency day trader since this knowledge assists in scrutinizing the same data through a different perspective.
Part V: In this section, the authors examine the actual trading system of veteran trading guru Charles B. Goodman. His unique theories and hypermodern principles are accompanied by numerous practical studies and examples.
- Forex-Specific Charting Techniques
- Point and Figure Charting
- Forex Swing Charting
- Other Reversal Charts
- Goodman Swing Count System