Technical Analysis Beginners Guide for Stock Trading & Forex
January 2019 Update: Added Ichimoku Stock Trading & Forex Trading Strategies (along with explanation of the Ichimoku Indicator)
August 2018 Update: Added Fibonacci Trading Strategies & Basic Day Trading Strategies with manual back testing concepts which are a must learn for any one doing stock trading or forex trading using classical technical analysis.
Latest News: Indian Insight Founder & Instructor of this course, Yash Utmani was ranked 8th in Position Stock Trading & 12th in Day Trading Stock in the last concluded edition of Pro Advisory Championship Competition, India 2016.
Now updated with the special stock trading pattern we used to predict the current rally in Gold prices as early as December of 2015!!!
You are welcome to Check out my analysis on my blog or Youtube channel to see for yourself if you are learning from a genuine expert or not!
This is now a 4-course bundle on technical analysis, stock & forex trading strategies etc. which includes:
1. Fibonacci Trading Strategies for Stock Market & Forex Market
Fibonacci Analysis is one of the most popular tools in technical analysis for stock trading & forex trading. While almost all traders use them for some analysis, very few actually create trading strategies using fibonacci analysis concepts. In this course I am going to share with you fibonacci trading strategies which you can use for day trading or position trading. I will also share my favorite time frame for using this trading strategy.
2. Ichimoku Trading Strategies for Stock Market & Forex Market
Ichimoku Indicator is one of the most versatile & powerful technical analysis indicator. This indicator is often used for stock trading & forex trading. It is also very useful for trading stocks in the short to medium term. In this course I cover the basics of this indicator and introduce you to two of the most popular stock trading strategies using this indicator.
3. Day Trading Strategies for Stock Trading
A successful professional trader once told me, If you are using classical technical analysis to trade financial markets, you should not do it without performing a manual back-test. In this course I will take two basic day trading strategies for stock market (and their variation) and teach you how to manually back test them before deploying them in the market for real stock trading.
4. Technical Analysis Primer for Investors & Traders is meant to introduce you to the world of technical analysis by using latest real life examples and fast track you to apply these techniques for stock trading or investing in financial markets.
This course would introduce you to various technical analysis concepts including different types of charts, gap analysis, support & resistance, trend lines & trend channels, technical indicators like Bollinger Bands, Stochastic Oscillators, candlesticks patterns etc.What is more we will also be sharing with you details of our favorite trading pattern from classical technical analysis. This pattern is very handy for trading any asset class including stock, commodity & forex.
Not only will you be introduced to various technical analysis concepts in detail, but you would also be shown examples on how these techniques were applied very recently in financial markets in order to make stock trading / investing decisions. You will be very surprised to see how sometimes very simple techniques from technical analysis can yield very powerful results.
This course has 8 sections with a total of 35 videos on technical analysis basics. In general for each lecture technical analysis concepts are introduced, guidelines on concepts are elaborated and application of concepts is illustrated using recent examples from financial markets including stock market, forex market or commodities market. This is done so that you benefit from the instructor’s experience in applying these concepts for trading in various financial markets. Since most of the examples selected for these course are from the actual trades in the market, you can be reliably sure that these concepts work and can be used for actual trading in financial market.
We recommend that once you learn a new technical analysis concept, you take some time out on your own to sit down and apply these concepts to historical charts of some stocks, commodity or forex. This way you will be able to internalize the concepts and can use it in real time trading or investing.
Introduction to the Course
Introduction to Fibonacci Trading
First Quiz on Fibonacci Trading for stock forex & financial markets
Fibonacci Trade Setup
Introduction to Ichimoku Indicator
Ichimoku Trading Strategies
Introduction to Day Trading
Basic Day Trading Strategy 1
Day Trading Strategy 1 - Modified Version
Basic Day Trading Strategy 2
Strategy Two - Modified Version
In this section we will learn about money management in day trading
Introduction to Technical Analysis
- In this lecture we will introduce you to technical analysis and explain how the application of technical analysis is not limited to any particular asset class or security.
- We also explain the logic behind technical analysis so that you grasp why technical analysts give so much importance to only the price of any security.
In this lecture we cover the four basic principles and assumptions behind technical analysis :
- Is a study of collective investor psychology
- Doesn't believe in rational human behavior
- Trends & Patterns repeat themselves
- believe that market reflects collective knowledge and sentiment of participants
In this lecture we provide a comparison between Technical Analysis and Fundamental Analysis. We also address common accusations against technical analysis (as leveled by fundamental analysis), and present our perspective on the technical v/s fundamental debate.
Introduction to Charts
The building block for technical analysis of any security or asset class is charts. Charts are of different kinds namely:
- Line Charts
- Bar Charts
- Candlesticks Charts
In this lecture we introduce you to line charts and bar charts
The most popular among different types of charts is the candlestick charts. In this lecture we introduce you to candlestick charts which would be used through most of our other lectures.
In this lecture we deal with three important considerations with respect to charting namely:
- Chart Scale: How very long term studies should be plotted using log scale and how airthmetic scale should be used for medium term and long term analysis
- Volume: Importance of volume in assessing the conviction of buyers and sellers
- Time Interval: Respective time intervals to be used for short term and long term trading
In this lecture we cover the basic candlestick patterns like Spinning Tops and Dojis like the long legged doji, gravestone doji and the dragonfly doji
In this lecture we cover important candlesticks reversal patterns including bullish engulfing and bearish engulfing patterns, dark cloud cover pattern, piercing line pattern, evening star and morning star patterns.
In this lecture we cover important candlesticks continuation patterns including rising and falling threes pattern and three white soldiers pattern.
In this lecture we introduce the concept of gap and explain what is meant by the phrase "closing the gap". We also debunk a common myth that all gaps must be closed.
In this lecture we cover 3 types of gap which are of no significance as they do not have any forecasting value
In this lecture we cover four types of gap that are of significance:
- Area Gap
- Breakaway Gap
- Runaway Gap
- Exhaustion Gap
Support & Resistance Concepts
In this lecture we cover the concept of support and resistance. We also explain the psychology behind why some price points act as support or resistance. We also elaborate the criteria that determine the strength of support or resistance.
In this lecture we elaborate a real life example of a price level that acted as an important support level more than one year after its creation. We also emphasize the importance of tracking support and resistance levels created on outcome of events of high historical significance as they can provide guidance in an otherwise confusing environment, and turn out to be important reversal points.
Trend Lines & Trend Channels
In this lecture we introduce the concept of trend. We also illustrate how to draw a trend line. A trend line may be an upward sloping trendline indicating that the trend is up. Or it may be a downward sloping trend line thus indicating that the trend is down.
In this lecture we discuss the 3 tests that can be use to determine the authority of trendlines:
- Number of tops or bottoms
- Length of the trend line
- Angle of the trend line
We also explain how we can determine if the trendline has been "broken" by using the extent of penetration and volume of trading
In this lecture we cover situations where we may or may not need to ammend a trend line.
In this lecture we deal with trend channels, specifically we elaborate the concept of return line or reversal line which along with a parallel trend line may form a trend channel.
In this lecture we define Price based Technical Indicators
In this lecture we define moving averages and look at simple moving average