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How to Read Chart Patterns for Greater Profits

144 pages, by Clif Droke

ISBN# 0979257204  

Market technician Clif Droke explains the best methods used for spotting profitable, top-performing stocks. How to Read Chart Patterns for Greater Profits explains the how-to of predicting which stocks will rally or decline based on the formation of price patterns combined with the internal state of the market.

Using his experience as a chart reader and internal momentum expert, you will be lead on the path to successful chart reading. Actual chart examples of winning trades from the author's newsletter are among the explanations provided in the book in showing you how to profit from chart patterns *before* the breakout occurs.  Unlike classical chart pattern analysis (i.e., Edwards & Magee), the progressive techniques detailed in this book are based on anticipating stock moves before they occur.  This is done by a careful reading of the market's internals as well as the internal momentum of the stock sector in which the individual stock trades.  Easy-to-understand examples of this method are explained in the book along with instructions on how to create your own internal momentum indicators with minimal effort.

The "new style" of chart reading for today's fast-paced financial markets is both anticipatory and confirming in nature. A trader's approach should combine a top-down with a bottom-up style of market analysis.  That's the philosophy that underlies this book and is explained in depth throughout and richly illustrated with actual market examples.  As stated in the book, "To successfully read and trade a particular chart pattern with consistent accuracy, one must not only learn to read the conditions of the broad market but of the stock in which the trader is moving in."  Clif Droke will show you how it's done.

Here are the contents for How to Read Chart Patterns for Greater Profits:

Chapter 1: Triangle Type Patterns
Chapter 2: Internal Momentum
Chapter 3: Volume Climaxes
Chapter 4: The Channel Buster
Chapter 5: Accumulation Breakout Patterns
Chapter 6: Internal Correction Patterns
Chapter 7: Sector Divergence Patterns
Chapter 8: Earnings Breakout Patterns
Appendix: Dictionary of Terms

In this book you will also...

  • Determine the condition of the overall stock market as defined by the main trend of the major stock indices (especially the S&P 500) and the Two Second Rule.
  • Determine the condition of the specific sector of which the stock in question is a member as well as the condition of the sector versus the broad market (i.e., relative strength).
  • Determine the internal condition of the stock itself using a basic set of rules.  All of this is necessary before the chart pattern can be properly evaluated.
  • Discover which fundamental tools work best in chart trading.
  • Examine profiles in past chart pattern breakouts as the pattern was forming (these examples were taken from Clif's newsletters as recommended trades). See what technical/fundmaental signals were used to spot the breakout before it occurred and determine the best time for taking profits.
  • Find out what internal momentum is and why you absolutely need to know this crucial concept when trading stocks.  Internal momentum is perhaps the single most important element in successful chart pattern trading and it is explained in depth in Chapter 2 of this book.
  • Learn the best way to use trading volume when analyzing stock charts (it's not what Edwards & Magee taught!)
  • Find out how the MACD indicator can be used for maximum effect when analyzing chart patterns.
  • Learn the best way to use trading channels and moving averages in individual stock charts to spot entry and exit points in stock trades.
  • Discover a great way to make company earnings work to your advantage in the stock you're trading.

Order today to receive your autographed copy and a FREE 1-month trial subscription to the Momentum Strategies Report.  Published three times weekly, the MSR newsletter uses the method described in this book for making profitable stock trades.

Purchase your copy for $24.95 plus shipping!

How to Read Chart Patterns for Greater Profits
by Clif Droke
Published May 2007

Publisher: Publishing Concepts

Price: $24.95 + $2.65 USA Domestic

Price: $24.95 + $4.95 USA Priority

Price: $24.95 + $11.95 Canada
Price: $24.95 + $13.95 Worldwide (Global Priority)