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.

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Topics Discussed:

  • 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

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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 mboutros@dailyfx.com.

Want more information on technical analysis and trading strategies? Check out ourFree DailyFX Trading Guides!

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