The Final Series! By this stage of our strategy you should have a good grip on technical analysis within the forex marketplace, you should also have a notepad full of notes to refer back on! In this series we cover – Support and Resistance, Reversal Patterns, Continuation Patterns and Schematics.
Fibonacci levels are derived from a number of series that Italian mathematician Leonardo Pisano Bogollo (also known as Fibonacci) introduced to the Western world in the 13th century.
In this video we cover how to plot Fibonacci levels and use them to enter trades.
Within this strategy we will be using Support and Resistance as a technical analysis tool. Now, we’re not a massive fans of limiting myself to support and resistance bands entirely as we do believe it can hold back your trading, however there are a few cases where we can effectively use support and resistance to aid our technical analysis without cluttering our charts. There are 2 main ways we will be using support and resistance…
In the previous video we learnt how to use support and resistance, within this video we’ll be using this skill to look for sniper entries on the break and retests of these market structures. This can be a really effective way of entering a trade if you missed the most ideal entry. Most commonly we see price action break out and then restest a key area before a continued push higher.
Throughout The Social Traders existence we have found that by using patterns and structure as a form of technical analysis is a very powerful way to analyse the charts.
Fibonacci levels, support and resistance and the 50ema will all be used but patterns will be the final string to our bow. So grab your notepad as this video and the next are two of the most important in the series, our strategy is based heavily around patterns and pattern formations, So let’s dive straight into it!
A Continuation pattern is a particular price pattern that indicates a potential continuation in price action when the bulls or bears are in control of price action.
Similarly to reversal patterns – Continuation patterns come in all shapes and forms and can be seen across all timeframes. In this video we will be going through how to spot continuation patterns as well as making sure we are getting the perfect trade entries.
Ok so the time has come to put everything we have learnt together into one video! In this video we cover how to enter reversal positions within a trend, capitalising on the pullback. Make sure by this point you are 100% familiar with all the techniques we have covered in the previous videos and have your notes ready to tackle this new strategy.