Technical analysis - the new science, Thomas R. Demark.

Thomas DeMark's book is truly a standout among technical analysis textbooks. However, I'd like to point out that this textbook is more suitable for those with a basic understanding of the subject.

Despite the complexity of the subject, "Technical Analysis: A New Science" is written in a very readable style, covering virtually all areas of technical analysis.

Furthermore, some attention is paid to practical trading issues, making the book an easy read despite some adaptations to the English translation.

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. The main sections you will be able to get acquainted with:

1. Trend lines - constructing supply and demand lines that characterize the trend depending on its direction. minimums and maximums as a basis for constructing trend lines, as well as the selection of other basic points.

2. Trend correction - its components, calculation formulas and application of the obtained results for the most successful market entry.

3. Overbought and oversold - as the main indicators of the state of any market, rules of determination, signs and signals of an imminent change in the existing trend.

4. Wave analysis - the general concept of this method of studying financial markets, the tools for its implementation.

5. Accumulation and distribution - or, to more fully characterize the content of this chapter - Working with trading volumes. The importance of the total volume of completed transactions and how it affects the change in trend direction.

6. Moving Averages - description and analysis of a well-known technical analysis indicator. The effectiveness of its application and various calculation methods.

7. Sequential – the formation of so-called setups, which are used as the basis for market entry. In simpler terms, these are common Forex patterns that can be discovered by analyzing historical price movement data.

8. Price gaps – the conditions for their occurrence and the impact they can have on the prevailing trend.

9. Forecasting price ranges – it is quite important to know the price potential or how far it can travel in a certain amount of time. These indicators are used both for calculating potential profits and for placing stop orders.

10. Stocks – types and trading features using them.

11. Options – as a simplified way to earn money on Forex or other financial markets.

The textbook " Technical Analysis - A New Science, Thomas R. DeMark" is truly worth attention; even a professional trader will be able to glean a lot of new and useful information from this book.