Foundations of Technical Analysis: Turning Observations into a Trade
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Foundation of Technical Analysis Series- Click here for the complete series and webinar archives
In this episode of our bi-weekly webinar on the Foundations of Technical Analysis, we reviewed setups we’ve been tracking throughout November that exemplify the core concepts and methodology presented in this series. Clear opening range breaks on multiple dollar crosses mid-month cleared the way for our direction bias heading into the close. But how do we execute on these trades once the break has been identified? Let’s break it down.
Topics discussed include:
- A review of November trade / December outlook
- Practical use of Opening Ranges – November examples and how they panned out
- Multi-timeframe Analysis
- When things go “Wrong”
- Identifying the break / reversal using price & time
- Examining Momentum (RSI)
- Q&A Session
- EUR/USD Price Analysis: Bullish Outlook Mired by Slope Resistance
- GBP/USD Breakout Faces First Hurdle- Bullish Above November Open
- EUR/NZD Carves Double Top Formation into Resistance
We also reviewed key technical levels and the weekly outlook for the DXY, AUDUSD & USDCAD that further exemplify some of the principles we’ve been covering in this series. Join us for the next Foundations of Technical Analysis Q&A webinar where we’ll take the entire session to answer your questions on trading. Click here to register free!
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---Written by Michael Boutros, Currency Strategist with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.