Technical
Analysis of the Financial Markets by John Murphy
Superb book, exceptionally well written.
Both the most comprehensive book on and a standard reference for technical
analysis. Provides clear and lucid coverage of all major analytical
techniques. Major emphasis on charting as a basis for price forecasting
and trading. Selected by Market Technicians Association as one of two
basic texts for those wishing to qualify as a Chartered Market Technician.
556 pgs.
The following is quoted
from the dust cover:
Designed to meet the need for a logical,
sequential reference on the subject, this book describes-for beginners and
more experienced traders alike---the concepts of technical analysis and
their applications. In a down-to-earth style. John J. Murphy interprets
the role of technical forecasters and explains how they apply their
techniques to the futures markets.
The book starts with a discussion of the rationale for and premises of
technical analysis in demonstrating how to track market behavior, it
illustrates the full gamut of methodologies---from Dow Theory's first
application, almost a century ago, to the latest computer technology.
Building on the basic concepts of charting theory, the book shows how to
construct daily bar and point-and-figure charts and demonstrates the uses
of longer-range continuation charts in revealing tend and price patterns.
You will gain an understanding of support and resistance, key reversal
days, head-and-shoulders patterns, flag and pennant patterns, Elliott Wave
theory, and the analysis of volume and open interest as indicators of
trend changes Moving averages and oscillators of trend changes. Moving
averages and oscillators also are explained and illustrated.
Cyclic theory, the chartist's valuable tool for factoring in the dimension
of time in analyzing trends and patterns, permits the analyst to predict
how the market is moving, how far it is likely to go, and when a move is
likely to end. Extensive charts examples show you how time cycles enhance
the effectiveness of the various technical tools.
The book concludes with an especially useful discussion of the respective
roles, in the trading process, of analysis, timing, and money management.
It also cites relevant bibliographies---both at the end of each chapter
and at the book's end.
Table of Contents
- Philosophy of
Technical Analysis
- Dow Theory
- Chart Construction
- Basic Concepts of
Trend
- Major Reversal
Patterns
- Continuation Patterns
- Volume and Open
Interest
- Long-Term Charts and
Commodity Indices
- Moving Averages
- Oscillators an
Contrary Opinion
- Intra-Day Point and
Figure Charting
- Three-Box Reversal and
Optimized Point and Figure Charting
- Elliott Wave Theory
- Time Cycles
- Computers and Trading
Systems
- Money Management and
Trading Tactics
- Checklist for Putting
it all Together
- Spread Trading and
Relative Strength
- Trading of Options
- W.D. Gann: Geometric
Angles and Percentages
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