Foundations of Technical Analysis: Constructing a Trade Setup Part 1

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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.

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.

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– Written by Michael Boutros, Currency Strategist with DailyFX

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

https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2018/07/05/Weekly-Technical-Perspective-on-the-Australian-Dollar-AUDUSD-Price-Outlook-Chart-Analysis.html?ref-author=Boutros