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Foundations of Technical Analysis: Mistakes to Avoid

Foundations of Technical Analysis: Mistakes to Avoid

Michael Boutros, Strategist

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.

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