Technical Analysis Applications in the Global Currency Markets

by Cornelius Luca

Over the past two decades the foreign currency markets have expanded at a furious pace – growing 130% in just the past ten years. They now generate a daily turnover volume approaching $1.4 trillion!

Technical Analysis can give you the edge in these fast-moving, complex, enormously lucrative markets. But – although the charts are there for all to see – not everyone knows how to read the signs.

Now, in this authoritative and up-to-date guide, traders and aspiring traders alike will have at their fingertips the charting weapons they need to fight and win the all-important forecasting battles in the currencies markets. Packed with practical help on everything from the basics of charting to the most advanced analysis systems, it is conveniently organized into three sections for easy access…

Section One: Trends and Major Chart Formations – demonstrates the importance of technical analysis in currency forecasting … introduces you to the different charts and compares them … and describes and analyzes trends and major trend formations, including trend reversal patterns and continuation patterns.

Section Two: Types of Charts – thoroughly analyzes line, bar, candlestick, and point and figure charting and details their unique characteristics. For example, you’ll see how point and figure charts provide easier-to-spot trading signals that heighten confidence and increase profitability. Discover how to successfully use the fascinating candlestick charts now gaining worldwide recognition – with their colors, shadows, and exotic nicknames – for currency charting. And, because the bar chart is the chart of choice among currency futures traders, you’ll find a full chapter analyzing the chart formations unique to bar charts in currency futures – gaps, island reversals, and key reversals.

Section Three: Quantitative Methods of Analysis – takes you beyond basic chart reading to focus on moving averages (all three types are covered) … oscillators that provide useful signals regarding oversold or overbought conditions and are particularly handy at the beginning of new trends … and a host of other powerful and increasingly popular indicators such as SAR, DMI, Sequential Analysis, Range Expansion, and the Swing Index.

This user-friendly resource also fully explains both the influential W.D. Gann analysis – a complex mathematical approach that generates unique trading signals – and the intricacies of the Elliott Wave Principle, a comprehensive analysis that covers all identifiable formations in the financial markets. And it shows how you can utilize today’s software to simplify working with all the many tricky combinations and subdivisions of these advanced systems.

In short, TECHNICAL ANALYSIS APPLICATIONS IN THE GLOBAL CURRENCY MARKETS provides a much-needed all-inclusive analysis of the various forecasting methods – and describes in detail the strengths and weaknesses of each.

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