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Foundations of Technical Analysis: Confluent Support/Resistance Zones

Foundations of Technical Analysis: Confluent Support/Resistance Zones

Michael Boutros, Strategist

In this episode of our bi-weekly webinar on the Foundations of Technical Analysis we discuss how to identify key areas of confluence support & resistance using key lateral levels, Fibonacci and basic slope analysis (trendlines). Regions where these technical features converge often trigger more significant reactions in price and may offer favorable trade opportunities within a given trend.

Topics Discussed:

  • Horizontal / Lateral levels of significance
  • Fibonacci- the origins and examples of applications in live setups
  • Slope- Basic trendlines, parallels and pitchforks
  • Confluence Zone – how to find them and what to do there
  • 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 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 April 5th at 10am EDT- Register Now!

Recent Foundations of Technical Analysis Episodes

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

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

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