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Technical Analysis Of The Finanical Markets by John J. Murphy

This book, although over 500 pages long should be compulsory reading for anyone interested in trading or investing money professionally or for themselves personally. It was first published in 1986 and is considered by many in the market to be the “Bible” of technical analysis.

The book covers many different trading techniques and technical indicators or approaches.

For example, topics covered include: Chart Construction, Trend Concepts, Reversal Patterns, Continuation Patterns, Stock Market Indicators, Time Cycles, Point & Figure Charting and Elliot Wave Theory.

The author has done an excellent job of bringing many technical analysis concepts together in one summation in an easy to understand format. This book is a must read for any person wanting to incorporate technical analysis into their investing or trading. The book emphasises the importance of having a trading plan in addition to understanding the various technical analysis methods available.

At Cadence we believe the concept of identifying a chart trend pattern (up or down) is paramount to successful investing.

This book offers techniques to help identify the trend forming process, which in turn enables the investor to focus on successful capital management strategies.