0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
More View more
Real Time News
  • 🇲🇽 Interest Rate Decision Actual: 4.75% Expected: 4.5% Previous: 5% https://www.dailyfx.com/economic-calendar#2020-08-13
  • Texas Governor Abbott says surge in virus positivity rate is under investigation - BBG
  • $Gold breaks the st sym wedge, next big question - what happens at 1985-2k https://t.co/pnF9DwmOGj https://t.co/EOPIoIt9RN
  • S&P 500, Nasdaq Price Forecast: SPY, QQQ Inch Towards All-Time-Highs https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/08/13/SPX-SPY-ES-Nas100-Price-Forecast-SPY-QQQ-Near-All-Time-Highs.html https://t.co/B5CRdXtgVT
  • Heads Up:🇲🇽 Interest Rate Decision due at 18:00 GMT (15min) Expected: 4.5% Previous: 5% https://www.dailyfx.com/economic-calendar#2020-08-13
  • Fauci: Health is primary concern for reopening schools - BBG
  • While the Dollar is under pressure, most USD pairs are still abiding recent congestion. $USDCAD is an exception, tentatively slipping a trendline support going back to 2012. That said, it is unlikely just one Dollar pair will run while others range https://t.co/tZLVa4gJNp
  • The British Pound has shown strength so far this week against both the US Dollar and the Japanese Yen.Get your $GBP technical analysis from @JStanleyFX here: https://t.co/GMt8FhWM66 https://t.co/AgSEA24Tp0
  • Fauci: US didn't have universal effort to contain COVID pandemic - BBG
  • US 30-Year Bonds Draw 1.406% Primary Dealers Awarded: 28.3% Indirect Bidders Accepted: 59.8% Direct Bidders Accepted: 11.9% B/C Ratio: 2.14 $TNX
Foundations of Technical Analysis: Identifying Confluences & Opening Ranges

Foundations of Technical Analysis: Identifying Confluences & Opening Ranges

2017-08-04 15:45:00
Michael Boutros, Strategist
Share:

- Part 1: Introduction to Basic Trendline Analysis

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

- Part 3: Introduction to Multi-Time Frame Analysis

- Webinar- Foundations of Technical Analysis: Trendline & Slope Analysis

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

In this bi-weekly webinar 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 convergences in horizontal support / resistance to identify key reaction levels in price. We also disuscussed the basic concept of opening-ranges.

In this webinar, we dressed a EURUSD chart from scratch, working our way down from the weekly, to the daily and then to the 4hour chart. We went into depth on the use of opening ranges as a way of offering further conviction on our near-term directional bias. This study of price action can be utilized on multiple timeframes and can be a great addition to your trading strategy.

We also discussed how to identify areas of confluence support / resistance as key reaction points in price. These convergences of slope with moving averages, key highs/lows or major Fibonacci levels can often times offer great opportunities, as seen during today’s webinar.

A review of the latest EURUSD & USDCAD setups published earlier this week highlight live examples of how we utilities 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. Next week, we’ll discuss the use of Fibonacci retracements & extensions. Click here to register free!

Want more information on technical 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.

DISCLOSURES

News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.