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Foundations of Technical Analysis: Mistakes to Avoid

Foundations of Technical Analysis: Mistakes to Avoid

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 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.