Table Of Content

Cloud Charts Trading success with the Ichimoku technique David Linton pdt ple psa House (tk oa Lowen sin TG ‘real tan Tea po g8r4 747 Fc ~44 02089743801 Emil enqiesuata.co.uk ‘Webi: msupestacouk Fst pub in oat Urn 2010 by Unde Croat Und pi “THe ght of Dad Lion to be Helios athe alisha been ass In avcrtancc wh eCopt Design ad Pets 198, IsBN 976-0.9888171-0-4 Ss irr Calin in ction Data | aldo rca ths bank can be ota fam Uo ish Library sights reser; opto ie eubfoios may te repre, sted neil yr cor tansitd any orm rb ny ns, lst, echnical platoppngrewrig or tense ‘haute pine rin permis Fubar. "is book ay now etre ied out or thre doen fb ey of dn any for ofbeing or oer olta ‘han tat in wich iis ublshed vit he gor wtf corsa te Pus Frnt and bord ty oan, trig Wels, Enola. Ne respi ss acasane to ay personor erate body air orfanin n act a eal ct cain the ate ibaccan he sce bythe Pils, by he Ah, tye emplvor af the ator Dest wademushs ns brans re he prop fli pete oars Far ma Innmston vit wm covszers.com About the Author Davie Linton META, David Linton horn and aio mse Melbourne, Ausra und studi engincering at King’ College, University of Louden inthe United Kingsom, fer eroding bs dealt sm Trad Cptions on the Loudon Staek Lxchange and developed computer soltare ‘or snalysing price behavious Ix 1991, David feunded Lpadts ple, based in Load, here bis Chief Exscutive Ofier Prfessional traders and analysts now use Uplta in over forty exunles uround the wor, David is 4 weil 10m commentator or nancial markets inthe UK, He has appeared on BBC television, ITN News, vember ad CNBC “nanessiabnels an Las writen for The Maul on Sunday, Shares Magavine and the Investors Chronicle. He has aught echnical Analysis wy housines of waar and investors iz Euspe ver the lito cade th ures rane nsatons employing hin to each ant sin her He is a member ofthe UK Society uf Technical Amabyns (STA) whers be teaches the ehimoka technique as pet af the STA Diploma Course and iss older of the MSTA desiguation Le isa merabe of the Associaton of Amiri Professional Teciical Analysts (APTA) and was enanded the Mastor Financial TeshnicalAualyst(MFTA} (qualia by tw Tternat onal Federation of Technical Analysts UFTA) fr his paper on the Oplimisatinn of Paling Stnp-lasss in 2008, David ves n London and Hs interests include skiing and yactuing, Contents Preface [Acknowledgements Tatroduction ‘About this booke PART { - Understanding Technical Analysis: Capt I= History Chapter» Basies of Technical Aaalysis ‘Chapter 3~ Moviag Averages ‘Chupler 4 Zaieatons ‘Chapter 5 ~ Point and Figure Charts Chapter 6- Candostick Charts Chapter? = Using Stop-Loss Bare Saormary PART 2 - Undrstanding Cloud Charis ‘Chapter §~ Cloud Chart Corsteuetion ‘Chapter 8 interpreting Cou Chins ‘Chapter 10 - Multiple Time Prame Analyt ‘Chapter 11 = Japanese Patten lenges ‘Chapter 12 Clcs Charts ith ether tchnisaes Part 2 = Sunrmary PART 3 - Advanced Cloud Chart Techniques ‘Chapter 13 -Iehinoku indicator teeniques ‘Chapter 14 - Back-teting and Cloud Trading Stratses ‘Chapter 1S = Cloud Market Brenth amass ar 3 - Surmary ‘Chapter 16 - Conetsion Appendix = Seaning, Bibviograpiy Inde, Preface This book reprosoms a rage in Tong journey to master the be2aviour of Saancial ‘markets. Tse ere @ lot oF people whe have impscted me along te was. his started. fut forme, 25 lenceer when T was almost obsessed wih proba ies and m.tcore fall thngs fname al. As student in he irl 198i ould say “he share pages of he Finaisial tres in Findon natcg ell the seocks that had jumped in price th proviaus da 1 was fasinates to undesstanc how a shate price could suddenly leap aud wanted 10 how hore twas posse tient sich moves. eine bend [My fs foray ina buying shares ioe nondng ee sere sips nthe weceend nevrsoapers nd ringing » stokbrokor firs thing on a Monday mamning, boying smal mounts oF al of ther, It s0med percely logieal to me that thoy wold go up because Someone “in he know” sad they would and everyone reading wht Iwas 1eading would be buyers too. T sl give my wel” spoken heer any Hist af shaves io uy a fe feed [pounds in each, while he woud leave me es do with is sighs Jal Toss “smal fry Iinthose dyn wu week aoeeuntperid operled. yu bough shares lhe sant oF the account, you wauld hive to weeks before you wvold have wo senda chegus to your Iroher to py fs the, Ifyou sel efor ke ew Ube eeu pero wad nie pao you would receive aceque fom your stackbvoker Zor how aul you had made less theie Commissions and sarap day “The frst tm T dah 5 Treoeived a cheque fv over £200, ate track me that his sas the sient way to makes mamey in the wo. T would buy aha‘essaoh tight fon Mevniy grin ga sll faa at Se end of dhe azenunt pote en dhe Feiday aliernoen the follaving wesk, Jost as [3 strving to got uscd co the idea oF receiving aa cheque fiom my stackbroke: cack. ertight, something almost inconeeivabe toe, ‘nuppsned. Stocks hd fallea easily atthe end ofthe accourt periac ane Friday and Jud suffered a loss. Lrstead of rezeiving my cheque in the ml the following week, | pot ‘station of account that informed ate that 1 would aged te sead a cheqne “0 the broke, “This would cover te difference tetween the prices [sold ata few deys eater and those | bought al almost a couple cf weeks beloveiand as well as the comission and ‘axon the sanssetions. halo sel the stares aT could not afond to purchase dem ‘outright, and siden ide tht Ts hve to send a cheque Fr 2600 sounds almost ll Thad mace in the proceeding weoks, aul have aothing foe tml me Fel sick Lemained ina state of disbelief for wecks Tow ould every one ofthe shares tht wot tipped toy up, do exnery the rovers nnd fll? They were all grt companies, [bad ‘Tesequc thom in onder te doside on ms inveslnen! weightings, | mew ther prosucts ‘nthe toma es were, invoodurdervelued a8 the press had pinto. I ae Sent tw ms the ther pres fell un us the pain of the loss hd subside, 1 rotum tn ching tae prises in the paper each fay with as inereasmgneeolvs to profit rons ees ‘moves hile avoid:ng pain‘ failures, Inuying we get to tc brtom of ay fa lure 1 stra researching Ue ies of This wap the word that wes caning up in the apersasco wy the wankers hed fallen over the petiod I lol snney. 2 “ct teste marke wis ivearoring and mest of the stocks 1 fu! had eo soll were now higher ran th prices 1 had bo1g then a. Leyan 0 realise thet the direction in which the sek racket a5 2 whnke moved cov have as me of AnimpscL or biggcr, onthe slacks you chose to buy T visited libraries anu. bookshops Tookng for howks on this ea of sSntimet and sturtbed on the subjec" 0° Technical ‘Analvsi. There was ery File writen aout it but eveantal Tous af Oe Fata Moresby Johe, Mur andrews thal mome ton T sas comeniocd I Fa ound the mox effect ve wy to analyse financial murkels Tone John Murphy, who (have luce re fe times, hanks Fr this in ial enlightenment Avonna this ime I mnade after a cllage, Nick Gabel wi ha a sma insret in financial markots Ted Isl diseus the markets fx hours on end ax evento y swe agieed co trade fogetnt, By thea he Hal graluaed and became an uecoutan and Tes in my Enal year of sty 9 we ete bath prot busy espe thin. we deed lwlnale the more excirg ans loveraged Tendon Traded Options market, We berm patticulrly active and our broker was paying more ans mone aention co our Sealings T would always have tke FT 0% me and it Isclves would liste tothe *Shre Cheek" ith dan ear picee fn my personal nid, I would ofen sreak vata Licback of the oon al fur ba peyphone la dea. Nick ind [had asystom of ealing an snswexphove Ww he messages foreach alt, We sonld call in and rtriovs these List be“or> dealing ad leeve rosssages 70 whit ach of us ws doing wilh our teasing acount. Mir fl xe same thing invidually atthe same Lime. (Gor strategy for buying and selling vas bascd on york we la dane with som basic sefbwane en an Amstrad PCN. Ile soon wae momelranse al the prt dots wate pone Dut athe time we felt we fd eal edge in the markel and we begem io trae bigger mounts, recall in early 1987 thal we manage! to turn £1C0 on fst rade ino £10000 nthe space nf weeks on options that were sockcting. IL was very exciting ime. But we Fad ove faimes ton nd ater sovenal moths ¢ had file a show from all our efforts, Thy Ce lea simmer of 1987 we decided to tae a break foun ding, Ir ssorxed the murbets were harder lo real ant very inflated. aud comity lime to crn, ws a0 boeming anise. As t peed, qite by heck, we v's nota all nvolved he sock. rmurket crash of Ooteber 1987, Fven now isis hand ta conscive prices 2rsass the hoard halving ins day or ovo. Las stunned a Lead the dtamati beadines inthe FL Trevtemer fcling an enuznzous sonss of ref tet Twas not involved in o's "87 but aso could noe hep thik Y hse mised a ‘axe in a etme” oppostuiy sefimume wh ‘om ofthe anes” put optiens. rash, sraling [Nick and I egurned to loking st markets ale I graduated and siarted to develog salle pivgtams whies would be more powerii this anything we hai come across. ne of fhe biggest hassle running this set oF analysis software in those days way entering ‘1 fre dat, Typing in yesterday's sae pres, ene by on, from the paper eae day was ‘auch a tring exercise, that by the time you had Quished yeu had virtually no appetit> left tr the late 1980s 30st private investor in the L. & looked at share prices ana serio lls leet. This ws att hace raring page service operated with a remote fontrol om a television. It cnrained mows Headlines, spor, rave information, rinute hota wiers d,s 9a shane arises Unt weve uped several test ay, Soon cucuit cards became available for personal computer wher, by plusging in a TY aerial, you vould view leletext pages on your screen. We sion reused atone hose pages were cn a cmputer sersen there rus be wy te stp the picas From the pages ari sors “hom. Suenly wo cl caraputerised chaes that were updated several nes ‘day aad we could 330 on simple program hal coxmnecsal pot L cate up wilh he tame Updata beens it took so maueh wus ot of updating prices to Ura chara we set upa business er fw ran hf sing 0 sell our sysem, Nick decide ts Teas te company snd [touk over Up and is bls, Having spoken to so many poteatial prospects fr the Updatapregram, Iwas lucky ‘nough to meet Ian Rodgers who had worked in the City foc mary vests. He anda couple offends agteed fo back de company and Jan became mer i Ce erly years fF geting Uplate ond, With all ahi rs Sr 2 on nl pO slong with w deep perm interes! lo see me sorceed, Updta wold be noting lk the busincs it his become toy: For thal I wil always be grate the company benefited om aumezous supperters Patrick Lileks, a fone ofour Gisteliznts and backers helped 1 get dus software sumiag in more demain (eading envizonments. Theo van Dora veteran in aecouatiag soware was a value ‘advisor beta he scenes. Sully he died a few years ago atl recy mis i “Theft Updatacolware rect vat ahead ie ia, wth a mama of ete Fr fncestnen sally in the UX, Dass leading in he uplating of He aniiare, yo eral se annus ras Tn, lil as site ssn fea MS-DOS yoga, had he fis ang toposes. which wore also mrause éivsn, and we syed vo boat ‘competing UK companies suc as Faishares and Indes, busncsses that Updata Tatar autre, We vee the sto move to Microsot Window's which was considcied a isk atthe time. We also berefited lnm being fe litt t sign a Jel with Teletest ancl otacr Providers of broseas atime data. These cays were vay bere it was fshionable to {oinan internet startup and may pevple came and worked fr wet low pay: People like [Neil Roodya aud Stephan Oneriime spent mans years with be business developing ‘ne ech: Upadta mn very rent company tay and we havea gre fralened . Y hao great eam of talensed people Sami Khan, Richart Tel, Nigel Shan, Arres Monéic,Jeromy du Pees ‘ama! .tgem and Fira Rabnow have en with us Ror years and helped as stay atthe foveitux. Newer member of staff have played Deir prt in making gor business 3¢0%7 {th point where our cnssomers na irclude moa of the tp Financial irsiitions in the world seross more than forty eountres We wasn not ave boon able to make he strides we Lave mn Technical Tending systems ‘suo: to thonsends of prime cunlnets over the years. Many uf theses people stil Hs ty coer rechioebs ida reoinssidilig RAaatincio paving: oe a eysiete ith dor. (Our custucers keep us clean by paying us lect ad we work arn ths clock tn make as arany of Cie enhancements Hat they ask fr ts poss “There have boon many peulessional clients way have inf nenced may work ir Technical Analyasu the developricn of our products; ef! Tlochman at Fidei in ond Robin Griffis at JP Morgau Cazenove, Rob Brand ut ARN Amro, Adan Sorab at COS ‘Management, David Snedilon at Creit Suisse, Dave Keller at Fide ity in Boston, Cys Taudillaet Cxane BNP Paria, Carlie Morris at HSI, Kevin Lggeley at Caxton. FFurope, Axel Rudolph at Convaetzbank, Alan Joanson a iraband Securities. Tim parker at PH Partner, Jean-Charles Gand at Societe Gevenale, Greg Moms at Stagion ‘Maney Ranagomen. and Louise Varna st 1Y advisors in New York. These people and ‘ary olbers tha | wil have fie! to mention, have al had ar nfluence, offen greaces ‘han they could now. Witunt them this book would mot have been possibi. Over the last Tov yaar Ihave delivered a series of training courses to mtket professionals in x number Crests amd Tam alse grateful totem for ther fsedboek in developing lots oF rhe Ideas in this buck. ‘he turn behind the Udita sofbvure ase deserve special mention. Ths book would have toon impossible to produce within it end the speed al which I have been able te produce the charts, anate ther al explore nes ideas hax zonstanty reminded me aloo the ‘ray how much af an incredible product Cpdata is. Sure, Ta hinged, but Lalso know raving Lind ct people around ce work! would agree, Tor this special thanks to Tern ht Plessis, Satu Khan, Nigel Sw and Andrew Mekendrick at Usa ple {would peobably not bs writing this book wthout two people i particular Rick Rensignor, at Mergan Stanley 1 New Yor aspired ims frst interes m the Iebimsku technique veyeral years ayo. John Cemeron, Head of Fucation atthe UK. Soviely uf Technical Anaysta encouraged ms t teacs he subject hich, i sur, pasted sue f lear av mac a Tule about it In termsnf my work 9 Tahal Analyst, ne person has nfluenesel my knowledge te {fav higaor exten hn anyine ad Lave heen fortune to ak with hr for seeeel Jars Jeremy dy Plesi, Heae of Technical Aralysis isthe most earned pronorent of thc overall subject ha: Phare encountaced. He's we ots mol qualified tehicians laf US as2 Yellow ofthe Sacoly 6” Technical Analysts (HSIA nd 9 Chartered Marler “behnician (CMT), a cesenation wide roeugnised inthe USA. Fe is probably che worl leading exper onthe Poi se Figure chasing teimigque ao the author of ihe Deflve Cade te Pont ad Figure. Vhave bee lucy 00 have hed Jeremy to hued iver the yeas to curnest any milakes nd misunuestanctings in ny yak in Techniel Srulysis, Had it nok beea for working with Jeremy. you would alos ceraity be reali ‘ammuch essor book: her, Soto him Tam grate“ “There are nuactus frends unl sollexgues ty thane for their support aver the yeas and in arvcula, ey porches wio bite always provided their encouragement and never presusod fre te gel'a proper job when T pen years Working to yet pata off the ground. Teh dnd all other sriends who have helped me, thank you. etre Acknowledgements ‘smn po eben ie unkown ho shen a ane co fou i sal murs ou ore belo pple Aleta tT op ae Ladvo aun ine mel gure sone exe i ‘or hbo, fey di Psy er Show er Tee snd Ga “Etyemn tet Cs tones Sue kr Somes nee frei Ue open na Tolls poss ets eto Comme Lal, yng tren gh ss, mh masa gma oath ak wi her editing. . memokwi “Theve is. saying tha Fgh and Aner ao two GounsTies separates by the sa Janguge. Th fil eden oft book i writen in LK Lagi, not American Faglish CCanseguevily worl soe color ate sel “colar. Lapolagse in advance to renders fin America. Lan also grateful othe lee Lidenobu Sle fr his honk in Taparsse on Ichimoky. 11 have misialerpreled vr miosed anything, {em sorry, and woe be stateful lo 3e informed by cnyone in apn wh fas further Findings an the says Peter Shaw at Updcta hauled mst ofthe logistics of publishing ane distributing lis of publishing anc distriouing the book. Chis tec! at 521 Pasig. Matt Spencer Sai ad Alber Becker at Green-On ‘worked io an impossibly tight sehecule on Ci desi, layout ard printing, Weis thasks them thst this Fil color book looks 30 good. Fiat hana du fami and alli es mgs avy tor is took prt forte etn wun T wet tay ne wer Chistes 2000, My gilt, Darra Grah bsg fy Gehan, ws al voglalynepetel a pa wl we throughuut, ‘Thank you so much Honey! * r Feedback ‘welcome feedtuck a: Dawiddiclowietarts som Al cars ih bok ne prod using Upsara Poiona. Te ate fc mary hee sia courtesy of Bloomberg LE. Introduction Lyery your round he ond ef October the Inismational Federation of Technica! Analysts (FTA) olds its annual conference. Members trom technical malysts societies around the world wader w share dheirwxperionce and hear the atest idsas in presoutaions over the course of a few dvs. In 2004, itwes the nun ofthe Azociacién Bspatiola de Atalists Téemieas to host the IFT conrorence in Madd. I was a mexnosale even nit wis grea o bse <0 may esteemed fecnicians in one gahering By nature, running sllyare company that eavors 30 many’ bags in technical analy snd tavelling the world un niet some ofthe bes anaes in the business a eis desks, iis rare thet a conference preseratin breaks uew axoune, But, as with reading a hk, you never know wit gem you wil pick yp bused deep within the cimtent. One of the speakers atthe Madrid conference was Rick Densiguor. wv ws then Chief Technical Strtezisl at Worgan Staley and his presentation ss wbx Ihirelen Kinkho He tars, [bd seen these “Clea Chane" before ind est poeple spe eon thom in aher prescuations, but un that November moraing, Rick preserted them in a way that made ‘heat understandable to ay’ of us in the audience for he fist time. Tat is where this ured for me su aevul Lau grateful to Rik ensign fr suring my interest the Iebimk technique Soon ater Madrid | started looking a these elarts more and mone and T ws kee {fing out as muha gould abel thera The cals seemed ta display natu ienomenon in nipping the pres of iran insurer with a uncanny degeee oF aceureey Tite to hie hy this wis, so T seach te itera ely to Bad ddesericions on thsi constuction, whic is elegauly simple as we shall see ia et 2 ‘here wss areal ack of material that exp ore these charts in any meaningtu. depth 1 vited Rick: in New York and mel up wid hima subsequent TFTA cotlerences in Swilzrlanc and Egy. Ispoke with ole: technical analysts baved it Landon who wed ‘hem. | app-oached the Jgpanese deleyaies a tbe IFTA.zonferences each year ina Bid to find ont how they used hers. Did they have any Further gems of wis? Did they kre of anyone ia apa T shoul speak i? Tyas ding blinks, Many of the Westermens 1 spol o implied tha there waa bigger secret ad while ts Japanese analysts wore slays politely enthusiastic, I sensed tha they lso might he boldingsomeching back. ‘My curicsty toviands Cleod Charts coincided withthe: increasing appearance in ray ‘work, They were becoming 4 regular part of my wsokly comunentaies ua markets, and Seauured in my monly reports and in prescmurions 1 would show them in te evison interviews anc wcbeasts and foond myselP using then to explain wh ws zing om when Siteng a ving desea with inctimtionaleliens. The LK Saiety Technical Analysts (STA) asked me eo peal on the subject ancl hen insirdme to prepare al present Indule forthe STA Diploma evening course, aught af th etart of every yer in London, A erowing aumber af poople ver furning @ mo lo explain the leh chine mone fully. Part of me felt uncomforile hat Tmigbt not Lnow all there was to the subjce, hile anviber side uf me questiv.ed iT there wes eny mone Io tay way For Chrisucas 20M, lew to Tayo with Ua ain of Bing oatas much a8 sould ‘bout the Fchianokn lecnique, Nothing quite prepares you Tur your fist fie ariel a Wetmer i Japan, If yo take a .d5.on the suber system you mre coutouted with sun of spaghel tha has ka character all over Frying to find ~E.2 8k ohio qh Japanese) on the spine af bcoks in rows of shelves in the bigger beok shops in Tokyo ‘as an even bigger ste, In fuimess everyouo was very polite and spoke Finish, bat Communication was sil dificult This was probaaly ava sult of toy poor pocmun rlehinmvhs Finkho lye oe mp slempt at replicarin of fe ebaracters an piewe of paper spurt om finding Japanese books on Cloud Chars Tresolved to see as many sake Srofesionals a8 I could in Tokyo, L bad four meetings with different sient: on Boxing ‘ay an each ane startin wiry te samse manner. The elient would sa to, Hgo-wha ext you tell me about trove Tehimoka charts" The person | most ane cet was idonobu Saseki. He wth man that Japanese delegates at IFA contrences host revomumenied. Le lel word for number 0lesding fm, won swore ae had {ert hooks on finance, One of is Lyoks season He Fehimoke lechnigus wud ad Inchaged to abtamn a copy. Despite severe ttempls [was unable i most Ne Sava T guoss he had boon hounded m pan wor Tehitmokw is a big flowing. Sally he tied Sentenber 2098 and perhaps sone Ichimoka secrets, over and hove wt Is bas published have been lost Foner. tion Lost in translation ‘he most prefered tnsatl tile uf Sasa’ beak seems to be “Table of il m fa glance although it is sometimes reterred w as “Tcinmok bones ct”in Japan. ‘Ac we will come o ee she names aro apt descriptions oF sohjec. While do hav ‘tir Tapancse hoaks that cover Cloud Chars, including a volums by Givichi Hosoda Soho devised the chars, Sasek' isthe bost west yl do my best tn neath it and a ood deal mors bosices. | eel a this pont that T should cinphasize sora ofthe difculy in ting the avecuble jnfoumstion mn sapanese of is Japansse cectunique and rescuing fin Eapish. the problem is eoo-fod. Fete translations tht Ihave hal douss whi ar by no means ‘lhaustive, vary Fon tanslalor to tensatoe when explained in Fnglish Th Fact that ‘Sauk book title yoes bya numberof ils in English a escent wo this, Ask several Ispanese peop t tell you what iL means in English and yeu get 9 number of answers. “This nly a refletion oo te difficulty in conducting literal uansation £m tapanese te Eaglnk So fr this book T hav had fo 0 my best at reading between the lines fm seme The second cults is cultural, The varaous in trslations dn have a common ten: fn he concepts and znetaphors de Japanese seem to use i he subjet This Japanese gti mye sao herne fiom the "winy warrior-ike rams given to = various pattems ia Camtlstck chars, They clea bave arich Japanese cultural heritage, In eR ee oe a a ttacoak ode ans Soc tiaaiah te thn dice Gs veRs wae, in English, Thave not had the tenelo meen wr apamese master he jet who could clarify unocrtainties in ha ena eae, The einai ehngus smn owe, Tasca thea ovr eps slate, ane documetuio lays parol nse acl ga fea poems and suck aa agi much ose Taba pan rma selon lossy athe end of this book. = i 7 In rocent years se many people eve mated why I haven't writen this bouk. Professional tnalers ask melo eaplein Cloud Charts wher | vist dir desks, Nuasexous peop. in the Werle nanvial entres now have Cleud Chanson tise sereus without much ‘understmding of hwy to use them. Tam approached at confexences aad trang. | have found sso gomg aver i with so many people, eae afer another, tht the ti has come to est it all down, ‘As nuh as possible 1 save tied t rake this suet understudy to vote ew Wo ‘ne world of tetunical analysis. [have ou ined the mast sul toebnigues in Pas Las ‘an ovsrview. to the suet tw help you understand how Claud Chats ate best ase as an atonal 1901 The more experienced toehncal analyst may choose wo zlos over the ‘acca, bur if you are looking fo Further inormstien, seme ofthe best bows i Leehnicn! analysis arc highlightod in the Biblicarapy: sue ie Long he a ely ena Cd Chars fra 09k ‘he tecalque seis ely belie and ue ralghformr But re Abd ace eopl af tsing clue acing cust remy forget he spent 9 aot Tndesstaudiag these chars, antil vorexme enlightened me, ‘ Hopefully, I ean do the same fer you! David Linton ‘March 2010, Tonoa About this book Part ‘The boo is split nna trea pas, Pat Lis desigmad ta give yo enue knowledge technical alysis inde’ Mt you may filly understand Cloud Chats, somp srontary techniques and mare adved iden. Ii no means a comprehensive uid to the ‘whole subject, The beter your understanding of toch ica analysis, ts easier yo wil id uundersiandine Cloud Charts tshould be possible to ge: up-nd-rumning with using Cloud (Charts fm tos buok alone. The explanations of support snd resistance, moving averages and basie Candlestick eherts m these cert chagtois ae all fail csseatial to uadeesidiag Cloud Chars Welave also covered basis teeanica. analysis indcatars in Pare} yon may gain an nderstndmie oPhow they are applied 'm more acsarest Cond Char teohniqus onic in ‘ant 3, Thers is wchapler in Point ard Figure chaeing as this really paserfal techn que often ‘aggoes with what Cloud Chart tellus shout an instrument. We show the powcr ef using, Cloud Chas end Point and Figurs together Itc i the Bok, ‘Towards -heerd of Part 1, top-lsses and money managemene are covered. While “he tals shia here are no tilly technical uli Lectniqaes they are a vita ol Var amy rade. “There wi be umes wire teal suc ae sop-ioses lake precedence aver other tzchmigues schabmy Ghoul Charis a we will come to ne, Understanding naimg Sop-lewses wl 250 te helpful when we come to explae the ides of loud stps-lnsaes in Part 2 you are already se experienced techiian, you may choose fo skip Pt |. Duta yuick ‘vision of Ue subjeot una be use au ght uncer suave things you dd nor fly aponseite. Pat Thi soec on ofthe hank alesse the hnsios af using Cloud Charts yew ae ay inecested ir getting to grips with the tchique ad ising i, you could get on this section the book alens. The constuction chepler is import! ty tel understand thee chats nnd upply thom at covered in Chpter 10, Ths caper a lime Horan is vite or snamisingthe value of Chul Chats for nudiple ink Fra ly. Cayton 12. lcs at using Cloud Charts alongside athe ech ques wih sorte practical example, Pans "he inal pare ofthe bosl looks al sme mors actanced analysis ideas and trating strategies, Many at these ideas aro derived fromm ppWving he stanéan techniques sovered in Par 10 oud Chars. While you oi esily conduet cloud aralysic fr only reading Pat 2, Pare night inspire an extzaidca or to, Tpefully you will find some of te row material in this Ena set ou original wad giuundlycaking enough fa want to epply to your own ding, Software and Systems set important Fring steiner iy seroma Part 1 - Understanding Technical Analysis “T know all this has heen said before, but 1 need to say it anyway” }laeques Rousseau 1712-1778 swrsenpdara.co.nkiprivate vith il lst of lost est and foe Financ loueCharts.com que ad itis ik to ev Cloud Chae techniques aad