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Foundations of Technical Analysis: Separating Observations from Noise

Foundations of Technical Analysis: Separating Observations from Noise

Michael Boutros,
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In this episode of our bi-weekly webinar on the Foundations of Technical Analysis we discuss how to see through the fog of news headlines & talking heads to focus on the story price is telling. We used the British Pound as an example to illustrate that despite the litany of dire headlines, price action has been relatively clear with Sterling topping the performance charts against the US Dollar year to date (+3.25%). The point is, as a trader, our focus is on the opportunities ‘price action’ has to offer and we must remain discipline to what we see, not what we hear.

Topics discussed:

  • Weekly Charts – a roadmap to our broader outlook / bias on a given asset
  • Identifying confluence regions of technical significance
  • Separating ‘investment’ news / headlines from trade-oriented developments in price
  • Identifying / defining ‘breaks’ of support / resistance on various timeframes
  • Review of basic trendline / pitchforks
  • Review of actual trade setups across the majors
  • Trading Q&A Session

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

A review of our latest setups in GBP/USD, EUR/USD and Gold that 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 February 8th at 10am EDT- Register Now!

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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

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