Editor’s Note: This is the first of a three-part series. View the second in the series here.
Why in the world should you use an old-fashioned trading tool like candlestick charting to trade stocks when you have ready access to many more sophisticated trading tools?
Are candlesticks even still relevant?
Answer: YES… in a big way.
In many fields, sometimes a classic answer is the most satisfying answer. In music, think The Beatles. In trading stocks, candlesticks provide a classic approach to a perennial trading problem—timing—in an especially memorable format.
If you’re looking to identify particular moments in a certain trade, such as when to pull the trigger, remain in a trade or when to exit, candlestick charting offers a simple and elegant way to isolate the perfect moment….