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Technical Analysis Explained: The Successful Investor's Guide to Spotting Investment Trends and Turning Points Hardcover – 1 Mar 2002

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Product details

  • Hardcover: 560 pages
  • Publisher: McGraw-Hill Professional; 4 edition (1 Mar. 2002)
  • Language: English
  • ISBN-10: 0071381937
  • ISBN-13: 978-0071381932
  • Product Dimensions: 16.3 x 4.8 x 23.4 cm
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Bestsellers Rank: 440,123 in Books (See Top 100 in Books)

Product Description

From the Back Cover

Recommended for professional certification by the Market Technician's Association

The Original­­and Still Number One­­Technical Analysis Answer Book

Technical Analysis Explained, 4th Edition, is today's best resource for making smarter, more informed investment decisions. This straight-talking guidebook details how individual investors can forecast price movements with the same accuracy as Wall Street's most highly paid professionals, and provides all the information you will need to both understand and implement the time-honored, profit-driven tools of technical analysis.

Completely revised and updated for the technologies and trading styles of 21st century markets, it features:

  • Technical indicators to predict and profit from regularly occurring market turning points
  • Psychological strategies for intuitively knowing where investors will seek profits­­and arriving there first!
  • Methods to increase your forecasting accuracy, using today's most advanced trading techniques

Critical Acclaim for Previous Editions:

"One of the best books on technical analysis to come out since Edwards and Magee's classic text in 1948.... Belongs on the shelf of every serious trader and technical analyst."


"...Technical Analysis Explained [is] widely regarded as the standard work for this generation of chartists."

Traders and investors are creatures of habit who react­­and often overreact­­in predictable ways to rising or falling stock prices, breaking business news, and cyclical financial reports. Technical analysis is the art of observing how investors have regularly responded to events in the past and using that knowledge to accurately forecast how they will respond in the future. Traders can then take advantage of that knowledge to buy when prices are near their bottoms and sell when prices are close to their highs.

Since its original publication in 1980, and through two updated editions, Martin Pring's Technical Analysis Explained has showed tens of thousands of investors, including many professionals, how to increase their trading and investing profits by understanding, interpreting, and forecasting movements in markets and individual stocks. Incorporating up-to-the-minute trading tools and technologies with the book's long-successful techniques and strategies, this comprehensively revised fourth edition provides new chapters on:

  • Candlesticks and one- and two-bar price reversals, especially valuable for intraday and swing traders
  • Expanded material on momentum­­including brand new interpretive techniques from the Directional Movement System and Chaunde Momentum Oscillator to the Relative Momentum Index and the Parabolic
  • Expanded material on volume, with greater emphasis on volume momentum along with new indicators such as the Demand Index and Chaikin Money Flow
  • Relative strength, an increasingly important and until now underappreciated arm of technical analysis
  • Application of technical analysis to contrary opinion theory, expanding the book's coverage of the psychological aspects of trading and investing

Technical analysis is a tool, nothing more, yet few tools carry its potential for dramatically increasing a user's trading success and long-term wealth. Let Martin Pring's landmark Technical Analysis Explained provide you with a step-by-step program for incorporating technical analysis into your overall trading strategy and increasing your predictive accuracy and potential profit with every trade you make.

About the Author

Martin J. Pring is the highly respected president of Pring Research (, editor of the newsletter The Intermarket Review, and one of today's most influential thought leaders in the world of technical analysis. The author of McGraw-Hill's Martin Pring on Technical Analysis series, Pring has written more than a dozen trading books and has contributed to Barron's and other national publications. He was awarded the Jack Frost Memorial Award from the Canadian Technical Analysts Society.

Inside This Book

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First Sentence
In the Introduction, technical analysis was defined as the art of identifying a trend reversal at a relatively early stage and riding on that trend until the weight of the evidence shows or proves that the trend has reversed. Read the first page
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Most Helpful Customer Reviews

23 of 23 people found the following review helpful By A Customer on 26 April 2003
Format: Hardcover
I would recommend this book for Chapters 1,3,4,5,6,7,8,15,22,27 and 28 (!!),since the basic and crucial concepts Support 'n Resistance,Volume and Pattern Formations are nicely covered(plus a nice discussion on crowd psycology) .
In particular,his chapter on Two-Bar Patterns was worth the book in itself,it is not something i have found discussed anywhere else to such a helpful degree.
(His lack of enthusiasm for "Triangles" was a suprise.)
You may like the more complex Chapters yourself,but i just wanted to learn the basic principles of Charting in order to better time my investing,yet not from a cheaper Primer,but from a leading player/book in the field.
The aforementioned chapters gave me that insight.
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1 of 1 people found the following review helpful By Charilaou Kyriakos on 19 Jun. 2010
Format: Hardcover
This book really tought me a lot. As a technical analysis specialist in back-testing trading systems this book really helped to elaborate on my technical analysis research findings and improve my trading system a lot. I strongly recommend it to people who are technical analysis researchers for more than 4 years.
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Most Helpful Customer Reviews on (beta) 33 reviews
81 of 84 people found the following review helpful
Good reference; poorly edited 4 April 2005
By Jijnasu Forever - Published on
Format: Hardcover
Though the book is detailed and fairly comprehensive, the poor editing mars the quality of the book. Even the acknowledgement page contains 4 typos. That is a certain embarrassment. It is difficult to overcome the initial impression of sloppy editing and the book seems to have been rushed to meet some deadlines.

If you can get past the editorial issues, the book is a good collection of almost any interesting technical indicator that is available. While this book cannot be a substitute for the classic book by Murphy on technical investing, it is still a good resource for any investor. Of specific interest to the reader who is already aware of the technical investing (and a Murphy fan), the sections on "psychological strategies" is an interesting read. Other than that the book presents information from a huge variety of sources that has anything to do with indicators and oscillators. If you want to invest in only 1 book on technical investing, the book by Murphy is a better bet, with its better organization, editing and use of examples. This book, however, is a welcome addition, and not necessarily a must-have.
127 of 135 people found the following review helpful
There is wisdom in there, if you can find it 5 Nov. 2003
By Michael H. Blank - Published on
Format: Hardcover
This text is well known and required by the MTA for its CMT program. Its author is well studied and an expert at technical analysis and has a good historical approach. HOWEVER, his writing style is horrid. I am a fully licensed securities professional and have done technical analysis for a considerable amount of time. Even when I know what he is trying to say I personally find it almost impossible to understand some of his paragraphs. Throw in some typographical errors and some paragraphs are too obtuse to bother trying to decipher. Further, the charts in this book are not the best. They are all so compressed his examples are difficult to find and seldom marked. Its hard to find the early part of a year when the whole year is about an tenth of an inch. Buy this book if you have to or if you can read his style easily that you see in the sample provided. If not there are equally good books on the same subject out there.
75 of 80 people found the following review helpful
Comprehensive - but oh, the typos! 3 Nov. 2003
By Dilmun - Published on
Format: Hardcover
This book has become one of the classics for the beginning technical analyst, and is one of the two texts set for the first level of the Chartered Technical Analyst exam. I'm working my way through it, but I've found myself as frustrated as informed. Certainly you will find some information about almost every technical indicator that you will hear about in the press or on the web, but the attempt to be comprehensive means that the treatment of many issues is cursory at best.
Worst of all, though, is the almost total absence of editing in the first half of the book. Some random examples - the RSI formula is misstated, the text refer to charts that don't exist, charts are mislabelled (e.g a Microsoft chart labelled as WalMart). One important table has the column headings offset by one column. The accompanying workbook suffers from the same problem (e.g reversing answers to multiple choice questions). And to add insult to injury, the book is falling apart! Martin Pring's contributions to technical analysis is unquestioned - unfortunately the poor editing and presentation of this expensive book does poor service to his reputation.
52 of 64 people found the following review helpful
Everyone else is too nice... 11 Dec. 2004
By T.Mohnke - Published on
Format: Hardcover Verified Purchase
One person mentioned typos. Another mentioned poor writing. Still another mentioned how Pring seems to give no clear stance ("the price will always move up if the chart looks like this picture, but it might move down" <--- read that 4-5 times a page and it gets ridiculous!). Now allow me to mention what you SHOULD buy instead of this book: an interactive CD that Amazon sells for almost half of what the producing-company sells for on their website and it is incredibly instructive: InTeLyze.

I am not associated with InTeLyze in any way and I was thoroughly impressed --- right after being severely disappointed that I wasted my money on Pring's book. I am very educated and have a finance background, but pretty new to TA... and I felt like a complete idiot reading Pring's book. It wasn't me... it was horribly poor teaching.
7 of 9 people found the following review helpful
Major Layout Problems! 13 Mar. 2007
By Eric Kovalak - Published on
Format: Hardcover
While the book is generally well organized and presents materials helpful to the beginning technical trader in simple terms with examples, visual organization of the book leaves the reader page flipping and frustrated. Rarely are the graphics or charts which are referred to in the text on the same or nearby page. I constantly find myself having to turn pages and search out which chart is being referenced, a very detracting exercise when trying to study technical analysis!
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