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