Foundations of Technical Analysis: Constructing a Trade Setup Part 1
See these tools & methodology used in practice, Join Michael for his Weekly Strategy Webinar on Monday mornings.
Foundation of Technical Analysis: Building a Trading Strategy- Click here for the complete series and webinar archives
In this episode of our bi-weekly webinar on the Foundations of Technical Analysis, construct a complete trade setup from scratch. Starting with a broader outlook on price action and drilling down into the intraday targets is the basis of our approach. Review a step-by-step walkthrough of how we go about identifying trend, confluence regions / targets and trade opportunities within a given set.
- Construction of a complete trade setup
- Multi-timeframe (Weekly, Daily, Intraday)
- Mapping out levels on BOTH sides of the market
- Identifying confluence regions of slope & key price levels
- Look for structure to both validate AND invalidate the near-term trend bias
- Using RSI to identify shifts the momentum profile
- Review basic concepts regarding trading the turn
- Review basic concepts regarding pitchforks / median-line analysis
- Trading Q&A Session
Why does the average trader lose? Avoid these Mistakes in your trading
Current Trade Setups
A review of the latest AUD/USD, Gold (XAU/USD) and Crude (USOil) setups published earlier this week highlight live examples of how we utilize our technical approach to translate an idea into an actionable trade.
- Weekly Technical Perspective on the Australian Dollar (AUD/USD)
- AUD/USD Technical Outlook: Trading the Aussie Price Recovery
- XAU/USD Technical Outlook: Moment of Truth for Gold Prices
- Weekly Technical Perspective on the Crude Oil Prices
Join us for the next Foundations of Technical Analysis Q&A webinar on Friday August 10th at 10am EDT- Register Now!
Send requests on topics for upcoming Foundations of Technical Analysis webinars to firstname.lastname@example.org.
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- Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex or contact him at email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.