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Foundations of Technical Analysis- Trendlines & Slope Analysis

Foundations of Technical Analysis- Trendlines & Slope Analysis

Michael Boutros, Strategist

- Part 1: Introduction to Basic Trendline Analysis

- Part 2: Introduction to Basic Pitchfork / Median-line Analysis

- Part 3: Introduction to Multi-Time Frame Analysis

See these tools & methodology used in practice, Join Michael for his Weekly Strategy Webinar on Monday mornings.

In this bi-weekly webinars series on the Foundations of Technical Analysis, we discuss the methodology of constructing a basic trade setup. In this session, we review how to use slope-lines and simple multi-timeframe analysis to identify key reaction levels in price.

Remember that the most important aspect of trendline analysis is identifying the proper slope or gradient of the market. The more points of contact price has on a given slope-line, the more significant that line becomes. Parallels of an identified slope extending off key highs / lows in price are extremely helpful in projecting where price may ultimately encounter support / resistance.

While these methods can be used on almost any timeframe, it’s important to always have a broader opinion on the market within the context of the primary trend- otherwise your flying blind! Once that is established, drilling down into closer timeframes helps you to identify with more accuracy the timing of when to trigger a given trade.

A review of the latest USDJPY & AUDJPY setups published earlier this week highlight live examples of how we utilize this type of analysis to translate an idea into an actionable trade.

In future webinars we’ll be discussing how to integrate basic slope analysis with various overlay & momentum indicators, classic candlestick formations and proper risk management to create a more holistic trading approach. Click here to register free!

Want more information on technical analysis and trading strategies? Check out our Free DailyFX Trading Guides!

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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