Steve Neeson – Famous traders

 

steve nison - Steve Neeson - Famous traders

Steve Neeson has gained his fame due to the popularization in the West of the Japanese method of technical market analysis, called “Japanese candlesticks”. It is believed that the introduction of “Japanese candlesticks” in the technical analysis of the U.S. and Europe has become a revolution for modern traders, as it allowed, analyzing the market using this method, to extract much more useful information, in particular, about who dominates the market – bulls or bears. This information can be obtained by analyzing the rectangular marks on the charts, which are called “Japanese candlesticks” because of their similarity to candlesticks. Steve Neeson is the author of two popular books on this topic – “Japanese Candles” and “Beyond Japanese Candles”.

Besides the trader’s, he is also engaged in consulting activities, advising all over the world, including the Federal Reserve and the World Bank. Consulting activities also include Internet seminars and consulting services to various organizations.

Opportunities that open Japanese candles

Analyzing the size and color of the candlestick body, you can extract data about the traders who dominate the market at the moment and whether there is a tendency for the market to lose momentum. The latter is possible if the price at the opening and closing of the session was the same (or almost the same). In this case, the actual body of the candlestick is absent, which indicates that the market lost its momentum. These candles that don’t have a body are called dodgers.

If the candlestick has a body, its color may indicate the prevailing traders in the market: white candlestick – in most cases bulls, black candlestick – dominated by bears. In addition to the analysis of the candlesticks themselves, this technical analysis also considers the length and position of their shadows and the variants of candlesticks such as “hammers” and “falling stars”.

“Japanese Candles” are quite popular now. For many traders they are the only objective source of information. So if you’re serious about trading, you won’t be able to avoid learning Japanese candlesticks.