Technical Analysis for Forex Profits
INTRODUCTION
Welcome to this eBook, and if this is your first exposure to Forex then welcome to the wonderful world of currency trading!. We have had this eBook put together to share with you the most commonly taught technical analysis methods used to trade the Forex markets. Many people charge hundreds of dollars for essentially the same information (actually much less info) presented via an eBook to thousands of dollars for a seminar, again teaching exactly the same stuff taught here in this eBook. We originally planned to sell this powerful eBook alone for $297 (still a fantastic bargain), but instead decided to give this eBook as a gift as part of our mission. Basically the only difference you'll find between what you'll learn in this eBook versus many of the seminars costing thousands of dollars (as much as $12,000) is that they just keep showing you more chart examples and variations to drill the concepts into your head. Other than that general difference the content is more or less the same.
It is our mission, as stated on our website, to bring the amazing life-changing opportunity of Forex trading out of the exclusive hands of the elite (rich people) and make it available to average people. Before we started sharing all our incredible eBooks the only way that you could have learned these awesome techniques was to cough up a few big bucks (thousands) to take a hard-to-find course. We've had tens of thousands of dollars worth of Forex training ourselves because we recognized the immense potential of trading Forex, and at the time no one was offering a lower cost way to learn (trust me, we would have killed to find a site like Rapid Forex to learn from back then). If you can afford to (or when you can) then certainly participate in one of those expensive seminars; yes, you'll learn a few things, but after having learned everything we at Rapid Forex have to offer you you'll find that the seminar will affirm to you that you already know a lot, more than you realized, and it'll boost your confidence in yourself as a trader.
This eBook is titled "Forex Classics" because it teaches the classical technical analysis techniques that are most commonly used worldwide for Forex trading. If this were to be the only learning tool you were to ever get your hands on then you would still know about as much, if not more, than many traders out there!
So start reading and enjoy this marvelous collection of Forex trading technique classics. We wish you tremendous success as a Forex trader, and in all areas of your life!
Brian & Robert
We dedicate this eBook to you, our readers. Thank you for allowing us to share our passion with you, and for reciprocating your appreciation back to us with all your enthusiastic compliments. You really are dear to our hearts. This eBook is our gift to the world.
TABLE OF CONTENTS
Introduction
Chapter 1: Introduction to the Forex
What is the Forex?
The game
Rules of the game 101: Forex market operation basics Staving in the game: practicing sound equity management See the field, know the plays: using charts to analyze the Forex market
Chapter 2: Trading on Japanese candlesticks
Doji candles
Spinning top candles
The Hammer, dragonfly doji, gravestone doji, and full body
candles
The morning star candlestick formation
The evening star candlestick formation
The tweezer top candlestick formation
The tweezer bottom candlestick formation
Rules for trading candlestick formations
Chapter 3: Support and resistance Highs
Levels of resistance Lows
Levels of support
Rules for Trading support and resistance levels
Past levels of resistance can become future levels of support
Past levels of support can become future levels of resistance
Chapter 4: Trends and trendlines
Finding your inner, outer, and long-term outer trendlines in
an uptrend
Trading trendlines in an uptrend
Finding your inner, outer, and long-term outer trendlines in a
downtrend
Trading trendlines in a downtrend
Rules for trading trendlines
Chapter 5: Buy and sell zones
The broken uptrend
Trading the sell zone
The broken downtrend
Trading the buy zone
Rules for trading the buy and sell zones
Chapter 6: Price swings and Fibonacci numbers
The uptrend price swing
The downtrend price swing
Leonardo Fibonacci's numerical sequence
Fibonacci numbers and uptrend price swings
Trading on Fibonacci numbers in an uptrend
Fibonacci numbers and downtrend price swings
Trading on Fibonacci numbers in a downtrend
Rules for trading on Fibonacci numbers
Chapter 7: The reversal and the King's crown
The uptrend (right-side-up) King's crown
The downtrend (upside-down) King's crown
Rules for trading a King's crown
Chapter 8: Sideways movement consolidation, and fundamental
announcements
Consolidation
Fundamental announcements
The breakout
The straddle trade
Rules for straddle trading
Trading inside consolidation
Chapter 9: Trading days and trending days
Trading days
Trading on a trading day
Rules for trading on a trading day
Trending days Trading on a trending day
Rules for trading on a trending day
Chapter 10: Fibonacci numbers and convergences
Fibonacci convergences in an uptrend
Fibonacci convergences in a downtrend
Rules for trading a convergence
Trading an uptrend
Fibonacci convergence
Trading a downtrend Fibonacci convergence
Successful traders vs. unsuccessful traders
Chapter 11: The Gartley
The Gartley
Rules for trading a Gartley
Chapter 12: Harmonic vibrations and beats
Market movement in beats
The value of a beat
The beat completion/trendline/Fibonacci convergence
Rules for trading a harmonic beat
Chapter 13: Trading pennants
Consolidation
Identifying pennants
Trading the pennant breakout
Rules for trading a pennant
Trading inside a pennant
Chapter 14: Trading indicators
Moving averages
The average price line
Moving average crossover
MACD
Stochastics
Rules for trading with math-based indicators
Chapter 15: Trading strategies
Six general steps to follow when planning a trade
Separating the successful traders from the unsuccessful ones
Six general strategies for trading in any market
The Beginning
Chapter 1: Introduction to the Forex
What is the Forex?
Forex, a short name for the foreign currency exchange, is a market in which currenciesare traded Specifically, traders in the Forex market are trading one currency against another. As in some other markets (commodities, for instance), there are several different types of actors in the game. Some actually buy and sell currencies, trading one against the other. The actors engaging in this kind of Forex market activity are very large banks and corporations as well as countries (the
The point of this book is to help you do just that - to help you recognize movements by the major players that will change the value of one currency against another. If you learn to recognize these movements, you will be able to make sound bets on their effects on the price of a currency.
© 2005 Abundant Freedom LLC