Foundations of Technical Analysis: Sticking to the Strategy

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Foundation of Technical Analysis: Building a Trading Strategy- the complete series and webinar archives

In this episode of our bi-weekly webinar on the Foundations of Technical Analysis, we dissect a few of the setups we’ve been trading into the close of the week/month/quarter. It’s always fun reviewing profitable trades that went well, but breaking down a losing trade can be a much more effective drill to objectively assess your performance and to help identify issues with your strategy.

Sometimes you can be right, but at the wrong time- bottom line, recent trade performance shouldn’t filter into your analysis and maintaining an objective outlook on price is key. Here’s a review the week’s performance and a look at what worked, and what didn’t.

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Topics Discussed:

• US Dollar outlook- DXY
• The multi-timeframe approach
• Price action analogs
• Candlestick formations / significance of weekly & daily closes for validation
• Impact of end-of-month/quarter flows on near-term price action.
• Review of Fibonacci basics
• Maintaining disciple- Staying objective (big picture) despite recent trade performance
• Trading Q&A Session

Why does the average trader lose? Avoid these Mistakes in your trading

A review of the latest USDC/CAD, EUR/USD, USD/JPY & GBP/USD setups published earlier this week highlight live examples of how we utilize our technical approach to translate an idea into an actionable trade.

• USD/CAD Price Analysis: Canadian Dollar on the Offensive
• EUR/USD Price Analysis: Euro Breakdown Targets 2018 Lows
• Weekly Technical Perspective on the Japanese Yen (USD/JPY)
• GBP/USD Technical Outlook: Sterling Threatens Larger Price Reversal
• US Dollar Reversal Under Review– USD Setup We’re Tracking This Week (Webinar)

Join us for the next Foundations of Technical Analysis Q&A webinar on July 13th at 10am EDT- Register Now!

Send requests on topics for upcoming Foundations of Technical Analysis webinars to mboutros@dailyfx.com.

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 Michael on Twitter @MBForex or contact him at mboutros@dailyfx.com