'Technical Analysis is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends.' John Murphy’s definition, taken from his seminal work Technical Analysis of the Financial Markets - often referred to as an industry bible - is one which is repeated in journals, articles and internet forums across the trading community. However, what the majority of novice traders fail to realise is that although the underlying principles of the patterns he describes are valid, there is a lot more to consistent profitability in a live market than simply executing Murphy’s set-ups. (more...)

The cornerstone of technical analysis amongst the professionals on our trading floor is the effective identification and utilisation of support and resistance. It is easy for novice traders to get sidetracked by the plethora of tools, indicators and studies that exist within the field of technical analysis and to overlook the basic, essential and ultimately profitable principles. However, if a trader is able to consistently identify where the market will find support or resistance and how significant the market’s reaction to the price level will be, then he will be able to make effective, profitable trading decisions. (more...)

Most aspiring traders that join Futex Academy have a basic knowledge of technical analysis. The plethora of books, magazine articles, blogs and websites dedicated to this popular trading discipline ensures that the majority of motivated applicants are able to recognise and discuss chart patterns with some conviction. However, what these novice traders do not realise is that this initial knowledge can be more a hindrance than a help and that these information sources really should carry a warning sign... (more...)

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Market Profile is a graphical representation of price, time and volume information originally developed by J. Peter Steidlmayer in the 1980s in conjunction with the Chicago Board of Trade. A form of technical analysis employed by Futex’s elite traders, Market Profile can give informed traders an edge. (more...)