Saturday, September 30, 2006

How far that little candle throws his beams!

Book Value

Candlesticks Explained
Martin J. Pring
Tata McGraw-Hill (www.tatamcgrawhill.com)

Many terms used in candlestick method are battle oriented

Portia wonders in The Merchant of Venice, "How far that little candle throws his beams! So shines a good deed in a naughty world." Quite far, you can also say of candlesticks as charting technique for price prediction. For, their source is Japan; it was in the 1700s, that ‘the earliest forms of candlestick charts were originally used to predict rice price,' as chapter 1 unravels. "In 1750, a wealthy Japanese merchant, Munehisa Homma, began trading at his local rice exchange in Sakata using his own personal candlestick analysis."

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