FX Path

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New Book - Essentials of Technical Analysis for Financial Markets (Wiley) Posted: 21 Apr 2010 08:39 AM PDT I would like to announce that my new book entitled, Essentials of Technical Analysis for Financial Markets (John Wiley & Sons, 2010), will be released within the next few weeks. For more information on this book, or to pre-order, please click on the following link: http://www.amazon.com/gp/product/0470537299 . Below is some information from the book’s back cover: ———————— Praise for Essentials of Technical Analysis for Financial Markets "A serious, workmanlike book, a terrific introduction to technical analysis. Chen offers beginners a clear sample of methods and techniques from which a reader may choose in what to specialize." —Dr. Alexander Elder, www.SpikeTrade.com, author of Trading for a Living "Wiley's Essentials Series promises need-to-have fundamentals for professionals. With James Chen's new book, it now delivers some need-to-have technicals as well." —Robert Prechter, Jr., founder/President of Elliott Wave International, Publisher of The Elliott Wave Theorist "Trend trading technical analysis is the most important lesson for all investors and Essentials of Technical Analysis for Financial Markets is a great start. If you choose to ignore technical analysis, I guarantee a lifetime of very difficult money-making." —Michael Covel, author of Trend Following and The Complete TurtleTrader Think of this as financial market technical analysis 101 A valuable resource for traders at all skill levels, Essentials of Technical Analysis for Financial Markets equips you with the knowledge you need to analyze any major financial market. This accessible guide to the art and science of technical analysis points you to a wealth of essential methods for identifying potentially high-probability trading opportunities. Focusing on the key information you’ll need as a trader or investor, author and leading technical strategist James Chen helps you take on any financial market effectively, manage risk, and target profitability. ———————— James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here. * For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here. * For information on my new book, Essentials of Technical Analysis for Financial Markets (Wiley), please click here.

EUR/GBP - Trendline Support Breakdown Posted: 21 Apr 2010 08:36 AM PDT Price action on EUR/GBP, a daily chart of which is shown, has tentatively broken down below a confluence of two different uptrend support lines – one extending from the June 2009 low, and the other extending from the July 2007 low. This tentative confluence breakdown occurs within the context of a month-long downtrend extending from the mid-March high, and establishes a new 2-month low for the pair. For more technical analysis on this currency pair, please click here for Wednesday’s (4/21/2010) Chart of the Day. - James Chen, CTA, CMT * For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here. * For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.

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