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.

Free Trading Guides
EUR/USD
Mixed
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
Bullish
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • What are a few of the common trading mistakes made by traders? Find out from @WVenketas here: https://t.co/Q3sPmP2rya #tradingstyle https://t.co/sSU5q2ObQm
  • Missed today's Cross-Market Weekly Outlook webinar? See the recording here: https://t.co/d1rb3hCZTH We discussed: - US-China #trade deal - #Brexit outlook after the UK general election - US #Dollar outlook going into 2020
  • European Opening Calls From IG: #FTSE 7392 +0.53% #DAX 13346 +0.48% #CAC 5955 +0.60% #AEX 607 +0.74% #MIB 23509 +0.77% #IBEX 9622 +0.61% #STOXX 3754 +0.61%
  • Traders should know how to confidently approach, enter and exit both Bull or Bear markets. Need some insight into it? Get it from @nickcawley1 here: https://t.co/GhvvFrB3gz https://t.co/IbzSBk5Hb1
  • Join @DavidCottleFX 's #webinar at 3:00 AM ET/8:00 AM GMT for your weekly update on the top Asia Pacific market drivers that traders should watch this week. Register here: https://t.co/HNf3Axw8s5 https://t.co/iMMiza1J1d
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/im72E4Szmi
  • The Riksbank – the world’s oldest central bank - will exit its negative interest rate policy for the first time in known history as officials explore uncharted territory with unknown consequences. https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/16/Worlds-Oldest-Central-Bank-to-Exit-Negative-Rate-Policy-First.html
  • The Indonesian Rupiah, Malaysian Ringgit, Philippine Peso and Singapore Dollar may continue their rise against the US Dollar on global optimism amid a US-China trade deal #ASEAN #IDR #PHP #USD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/16/Indonesian-Rupiah-Malaysian-Ringgit-May-Rise-on-US-China-Deal.html?CHID=9&QPID=917702 https://t.co/GYaUYookwM
  • LIVE NOW: In this session, Currency Analyst @ZabelinDimitri will preview the upcoming week's main political themes and discuss their impact on financial markets. https://www.dailyfx.com/webinars/146770987
  • LIVE IN 30 MIN: In this session, Currency Analyst @ZabelinDimitri will preview the upcoming week's main political themes and discuss their impact on financial markets. https://www.dailyfx.com/webinars/146770987
Foundations of Technical Analysis: Mistakes to Avoid

Foundations of Technical Analysis: Mistakes to Avoid

2017-09-29 16:14:00
Michael Boutros, Technical Strategist
Share:

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

In this episode of our bi-weekly webinars series on the Foundations of Technical Analysis, we discuss specific habits / behaviors we want to avoid in our day-to-day trading. While some of these concepts may seem obvious, it’s always important to reflect back to see if you’ve fallen victim to these pitfalls- Odds are, you have at one point or another.

New to Forex? Get started with this Free Beginners Guide

Knowing your strategy, having a game-plan, and remaining discipline are the key elements every trader should always be mindful of. Alongside with these basic concepts we went over into more depth the significance of weekly / monthly / yearly opens and to how incorporate opening ranges as a simple way to assess trend. We also reviewed live setups on DXY, EURUSD, GBP/USD & USD/CAD that further exemplify some of the principles discussed today. Join us for the next Foundations of Technical Analysis Q&A webinar where we’ll discuss the intricacies of identifying and executing trade entries. Click here to register free!

Foundation of Technical Analysis Series

- 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

- Webinar-Foundations of Technical Analysis: Identifying Confluences & Opening Ranges

- Webinar- Foundations of Technical Analysis: Fibonacci & RSI

- Webinar- Foundations of Technical Analysis: Managing Risk

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.

DISCLOSURES

News & Analysis at your fingertips.