Spotting Trend line , patterns books?

[Heyhi]

Does anyone know of a book that will teach me to identify trend lines and patterns? I've been doing some self studying and researching and I kind of understand what these things are but I'm having a really hard time to spot them on a chart.

 

[dbphoenix]

Does anyone know of a book that will teach me to identify trend lines and patterns? I've been doing some self studying and researching and I kind of understand what these things are but I'm having a really hard time to spot them on a chart.

See pp 4-8 in this pdf.

 

[Brumby]

Does anyone know of a book that will teach me to identify trend lines and patterns? I've been doing some self studying and researching and I kind of understand what these things are but I'm having a really hard time to spot them on a chart.

Post a chart and explain what you are looking for. Patterns are means to an end and not the end. Pattern recognition is just a form of analysis. Eventually with sufficient effort you may be good at pattern recognition but trading is not analysis. You have to decide whether you want to be an analyst or a trader. If you want to learn to recognise patterns for trading, you will have to learn it from the perspective of trading and not analysis. Patterns are easy to spot after the fact and that is what an analyst does. A trader takes a position based on an evolving situation (pattern) and decides whether to take the trade relative to risk and reward. Unfortunately books teach you patterns but do not teach you how to trade off them. If you do not get this point into y6ur system you will simply be chasing shadows.

 

[Bobbo1]

If you want to learn about patterns, I recommend taking a look at Bulkowski’s web page. As stated above they are a precursor to a trend change.Some knowledge of Elliot wave theory never hurts either. After reading Trading Chaos (the second edition) my ideas about trading have changed. Currently about to start reading The New Trading for a Living by Dr. Alexander Elder.

I believe both books focus on the psychology of trading. The first one does heavily. Psychology moves the markets.

 

[Bradtex]

Dynamic Trading: Dynamic Concepts in Time, Price and Pattern Analysis with Practical Strategies for Traders and Investors