A Complete Guide to Technical Trading Tactics

Free Ebook Download: A Complete Guide to Technical Trading Tactics

Technical analysis is the study of a market’s price data, which is created by
the emotions of the participants. Price reflects the current or anticipated
value of a market from a supply and demand perspective. Price is the true
and absolute reflection of value, as perceived by the various market participants
at a particular point in time.
There are a number of different forms of analysis. This book will go
into further detail on most aspects of technical analysis, but my focus is on
market reversals incorporating pivot point analysis with other methods to
nail down time and price predictions.
All traders have access to four common denominators: open, high, low,
and closing price. How you analyze, interpret, and act on the information
available is what gives you a trading style that differentiates you from other
traders. Successful traders interpret correctly and act swiftly. There are five
business days in every week and usually four weeks in every month. One day
within a month will usually mark a price high, another day will generally mark
a low, and the market will close somewhere between those points. Those
facts define the monthly range. The successful trader does not consistently
make a habit of buying the high of the range or selling the low of the range.
But before jumping ahead of ourselves into subjects covered later in the
book, we need to review what the futures markets are all about. Seasoned
Getting Technical 5 traders may be able to skip over the next sections, but those new to futures should read them carefully because they contain important concepts and terminology that make futures different from most other markets.