Getting a feel for your options for charting

The Candlestick Trading Bible

Candlestick Trading for Maximum Profits

Get Instant Access

When it comes to alternatives to candlestick charting, the three main charting contenders are as follows:

1 Line charts: These charts are simple and helpful for short-term decisions, but they're quite limited in the amount of data presented.

1 Bar charts: These are much more useful than line charts and are the most common, but they're not as versatile as candlestick charts.

1 Point and figure charts: These are tried-and-true charting methods, and they're great for recognizing support and resistance levels, but they're far less dynamic than candlestick charts.

Each one of these charting methods can be used effectively to ratchet up the effectiveness of your trading strategy, but they pale in comparison to candlestick charts for a number of reasons, a few of which I describe in the next section.

Was this article helpful?

0 0

Post a comment