We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Silver, Gold, and $EURUSD thoughts from today's webinar - https://www.dailyfx.com/forex/video/live_events/2019/09/16/silver-gold-eurusd-forecast-JWweb-116.html
  • $EURUSD: Prices soon ripped-higher until resistance showed at a confluent area on the chart, as taken from the prior swing-low at 1.1109 that ran into a bearish trendline projection. Get your technical analysis from @JStanleyFX here: https://t.co/KlnCP4dpQ9 https://t.co/vu8AvJFvfa
  • 🇯🇵 JPY Trade Balance (AUG), Actual: N/A Expected: -¥346.3b Previous: -¥249.6b https://www.dailyfx.com/economic-calendar#2019-09-17
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude #oil prices? Find out from @ZabelinDimitri here: https://t.co/e91RRyBQ3z https://t.co/QJdJu2lNHf
  • The market for negative-yielding bonds has exploded in 2019 to a whopping $14 trillion against the backdrop of deteriorating global growth prospects https://t.co/kHqdF1ExbM
  • $ES_F $TNX https://t.co/AebApRQmlQ
  • 🛢 #CrudeOil and volatility analysis following Monday’s surge in petrol prices - via @DailyFX ➡️ Link: https://www.dailyfx.com/forex/technical/home/analysis/usoil/2019/09/16/crude-oil-price-spike-to-drag-volatility-higher-stocks-lower.html $USO $OVX #WTI #OOTT https://t.co/KiYJD4tTFN
  • How can traders avoid #FOMOintrading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/zXJ0j1YeAn https://t.co/xsAlM3Cqon
  • 🇳🇿 NZD Current Account Gross Domestic Product Ratio YTD (2Q), Actual: N/A Expected: -3.3% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2019-09-17
  • #USDJPY pivot points (daily) – S3: 106.99, S2: 107.49, S1: 107.8, R1: 108.3, R2: 108.49, R3: 108.99 - https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
Foundations of Technical Analysis: Seeing the Forest from the Trees

Foundations of Technical Analysis: Seeing the Forest from the Trees

2018-08-24 16:30:00
Michael Boutros, Technical Strategist
Share:

In this episode of our bi-weekly webinar on the Foundations of Technical Analysis we discuss the intricacies of trade execution as well as how and when to recognize proper trade entries. Its important to always keep in mind that you will never KNOW with certainty the performance of a given setup beforehand- the point is to look for as much evidence to support your thesis and adjust your trade size accordingly, always keeping risk management at the forefront. Being trigger shy is often a sign of over-leveraged trading or a lack of conviction- each setup should always be taken on its own merits and trade size should be based on how much evidence is available.

New to Forex Trading? Get started with this Free Beginners Guide

Topics discussed:

  • Capital preservation above all else
  • Multi-timeframe approach
  • Flexibility – being just as willing to go short/long depending on where price is in relation to trend
  • Significance of weekly / daily high / low closes
  • Conviction- how we make this determination- what constitutes a high conviction setup?
  • Using leverage as a tool – diversifying trade size based on the conviction level
  • Confluence regions- identifying areas of technical confluence support / resistance
  • Scaling into winners – NOT losers
  • Review of actual trades taken this week across the majors
  • Trading Q&A Session

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

Recent Technical Trade Setups

A review of the latest AUD/USD, Gold, EUR/USD and Crude Oil setups published earlier this month highlight live examples of how we utilize our technical approach to translate an idea into an actionable trade.

Join us for the next Foundations of Technical Analysis Q&A webinar on Friday September 7th at 10am EDT- Register Now!

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

Previous Foundations of Technical Analysis Webinars

Build Confidence in your trading with our Free DailyFX Guide

- Written by Michael Boutros, Currency Strategist with DailyFX

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

provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.