Global currency markets combine unparalleled leverage, high short-term volatility, low execution costs, and significant long-term trends in an atmosphere of laissez-faire regulatory oversight to create the nearly perfect trading environment. Multinational corporations and multibillion-dollar hedge funds have long relied on these markets to efficiently hedge risk while taking advantage of its many rapid profit opportunities.
Now, with Internet services and networks providing direct access to the interbank foreign exchange market, retail speculators of all sizes and bankrolls are discovering the profitable advantages of FX trading. Technical Analysis of the Currency Market shows you how to combine classic technical analysis tools with hard-won knowledge of FX market trends, trading ranges, and player’s behaviors to dramatically expand and improve your trading possibilities.
This dynamic and all-inclusive FX trading primer provides you with a practical, market-proven arsenal of currency trading weapons and solid tactical knowledge. From a focused look at how the FX market works to specific trading setups designed to produce high-probability profits in the widest possible range of market situations, Technical Analysis of the Currency Market explores:
- Important similarities and differences between the FX market and equity, option, and other financial markets
- Five key themes that drive the currency markets and which technical tools traders can use to best exploit them
- Technical analysis insights and examples for both trend and range trading setups
- Five chart patterns, well known to equity analysts, that have proven effective in currency trading
- Oscillator strategies for spotting quickly developing divergences between momentum and price
- Methods for spotting common price patterns that are the building blocks for understanding and interpreting price flow
Many of today’s most successful traders garner the bulk of their profits in the currency market. Technical Analysis of the
Currency Market will show you how to eliminate costly learning-curve mistakes and—whether you are new to currencies or a seasoned trader—give you the skill and confidence you need to carve out a small but profitable niche in the global currency market.
Contents of the book:
Chapter 1 - FX 101 1
Chapter 2 - Is It All Just Random? 25
Chapter 3 - The Secret to Trading 29
Chapter 4 - Show Me the Data! 41
Chapter 5 - Trend Is Your Friend? 59
Chapter 6 - Gauging Range 79
Chapter 7 - Fibs Don’t Fib 99
Chapter 8 - Patterns and Antipatterns: Know Your Mark 113
Chapter 9 - Know Yourself, Know Your Setup 143
Chapter 10 - Setups! Setups! Setups!
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