Foundations of Technical Analysis: Seeing the Forest from the Trees
What's on this page
- Foundation of Technical Analysis: Building a Trading Strategy- complete series and webinar archives
- Check out our 2018 projections in our Free DailyFX Trading Forecasts
- See these tools & methodology used in practice, Join Michael for his Weekly Strategy Webinar on Monday mornings.
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.
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- 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.
- Near-term Setups in EUR/USD, USD/JPY and USD/CHF
- Gold Price Outlook: XAU/USD Reversal Constructive Above 1180
- EUR/USD Price Outlook: Euro Constructive Above 1.14
- AUD/USD Price Outlook: Aussie Recovery Faces Major Resistance Hurdle
- Crude Oil Price Analysis: Sell-off Approaching Key Support Targets
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 email@example.com
Previous Foundations of Technical Analysis Webinars
- Constructing a Trade Setup Part 2
- Constructing a Trade Setup Part 1
- Sticking to the Strategy
- Examining Near-term Price Action
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- Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex or contact him at firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.