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A self study exam preparatory guide for financial technical analysis certificationsWritten by the course director and owner of www.tradermasterclass.com, a leading source of live and online courses in trading, technical analysis, and money management, A Handbook of Technical Analysis: The Practitioner's Comprehensive Guide to Technical Analysis is the first financial technical analysis examination preparatory book in the market. It is appropriate for students taking IFTA CFTe Level I and II (US), STA Diploma (UK), Dip TA (Aus), and MTA CMT Level I, II, and III exams in financial technical analysis, as well as for students in undergraduate, graduate, or MBA courses.The book is also an excellent resource for serious traders and technical analysts, and includes a chapter dedicated to advanced money management techniques. This chapter helps complete a student's education and also provides indispensable knowledge for FOREX, bond, stock, futures, CFD, and option traders.* Learn the definitions, concepts, application, integration, and execution of technical-based trading tools and approaches* Integrate innovative techniques for pinpointing and handling market reversals* Understand trading mechanisms and advanced money management techniques* Examine the weaknesses of popular technical approaches and find more effective solutionsThe book allows readers to test their current knowledge and then check their learning with end-of-chapter test questions that span essays, multiple choice, and chart-based annotation exercises. This handbook is an essential resource for students, instructors, and practitioners in the field. Alongside the handbook, the author will also publish two full exam preparatory workbooks and a bonus online Q&A Test bank built around the most popular professional examinations in financial technical analysis.

The Handbook of Technical Analysis, + Test Bank, 2 Vols.: The Practitioner's Comprehensive Guide to Technical Analysis

Foreword xiiiPreface xvAcknowledgments xxiAbout the Author xxiiiChapter 1 Introduction to the Art and Science of Technical Analysis 11.1 Main Objective of Technical Analysis 11.2 Dual Function of Technical Analysis 31.3 Forecasting Price and Market Action 31.4 Classifying Technical Analysis 111.5 Subjectivity in Technical Analysis 161.6 Basic Assumptions of Technical Analysis 301.7 Four Basic Assumptions in the Application of Technical Analysis 391.8 Market Participants 401.9 Chapter Summary 42Chapter 1 Review Questions 43CHAPTER 2 Introduction to Dow Theory 452.1 Origins and Proponents of Dow Theory 452.2 Basic Assumptions of Dow Theory 462.3 Challenges to Dow Theory 622.4 Chapter Summary 64Chapter 2 Review Questions 64CHAPTER 3 Mechanics and Dynamics of Charting 653.1 The Mechanics and Dynamics of Charting 653.2 Gap Action: Four Types of Gaps 723.3 Constant Chart Measures 733.4 Futures Contracts 893.5 Chapter Summary 97Chapter 3 Review Questions 98CHAPTER 4 Market Phase Analysis 994.1 Dow Theory of Market Phase 994.2 Chart Pattern Interpretation of Market Phase 1044.3 Volume and Open Interest Interpretation of Market Phase 1124.4 Moving Average Interpretation of Market Phase 1154.5 Divergence and Momentum Interpretation of Market Phase 1164.6 Sentiment Interpretation of Market Phase 1184.7 Sakata's Interpretation of Market Phase 1194.8 Elliott's Interpretation of Market Phase 1204.9 Cycle Analysis Interpretation of Market Phase 1224.10 Chapter Summary 124Chapter 4 Review Questions 124CHAPTER 5 Trend Analysis 1255.1 Definitions of a Trend 1255.2 Quality of Trend: 16 Price Characteristics Impacting Future Price Action and Trend Strength 1325.3 Price and Trend Filters 1445.4 Trend Participation 1455.5 Price Inflection Points 1485.6 Trendlines, Channels, and Fan Lines 1555.7 Trend Retracements 1665.8 Gaps and Trends 1665.9 Trend Directionality 1685.10 Drummond Geometry 1695.11 Forecasting Trend Reversals 1705.12 Chapter Summary 171Chapter 5 Review Questions 171CHAPTER 6 Volume and Open Interest 1736.1 The Mechanics of Volume Action 1736.2 Volume Oscillators 2036.3 Chapter Summary 208Chapter 6 Review Questions 208CHAPTER 7 Bar Chart Analysis 2097.1 Price Bar Pattern Characteristics 2097.2 Price Bar Pattern Characteristics 2117.3 Popular Bar Reversal Patterns 2187.4 Volatility?]Based Breakout Patterns 2307.5 Chapter Summary 233Chapter 7 Review Questions 233CHAPTER 8 Window Oscillators and Overlay Indicators 2358.1 Defining Indicators and Oscillators 2358.2 Eight Ways to Analyze an Oscillator 2408.3 Cycle Period, Multiple Timeframes, and Lagging Indicators 2528.4 Input Data 2538.5 Trend Trading Using Oscillators 2558.6 Window Oscillators 2558.7 Overlay Indicators 2628.8 Chapter Summary 266Chapter 8 Review Questions 266CHAPTER 9 Divergence Analysis 2679.1 Definition of Divergence 2689.2 General Concept of Divergence 2729.3 Standard and Reverse Divergence 2919.4 Price Confirmation in Divergence Analysis 3239.5 Signal Alternation between Standard and Reverse Divergence 3379.6 More Examples of Divergence 3389.7 Chapter Summary 354Chapter 9 Review Questions 355CHAPTER 10 Fibonacci Number and Ratio Analysis 35710.1 The Fibonacci Number Series 35710.2 Fibonacci Ratios 35910.3 Fibonacci Retracements, Extensions, Projections, and Expansions 36310.4 Fibonacci (Phi?]Based) Percentage Retracement Levels within an Observed Price Range 36810.5 Fibonacci (Phi?]Based) Percentage Extension Levels beyond an Observed Price Range 37510.6 Fibonacci (Phi?]Based) Percentage Expansion Levels beyond an Observed Price Range 37910.7 Fibonacci (Phi?]Based) Percentage Projection Levels from a Significant Peak or Trough 38410.8 Why Should Fibonacci Ratios or Numbers Work at All? 38810.9 Geometrically versus Numerically Based Fibonacci Operations 38910.10 The Fibonacci Trader's Technical Toolbox 39210.11 Area of Application 39410.12 Selecting Effective Inflection Points for Fibonacci Operations 39610.13 Fibonacci, Dow, Gann, and Floor Trader's Pivot Point Levels 39710.14 Probability of Continuation and Reversal in Fibonacci Retracements and Extensions 40010.15 Fibonacci?]Based Entries, Stoplosses, and Minimum Price Objectives 40010.16 Fibonacci Two?] and Three?]Leg Retracements 40210.17 Fibonacci Fan Lines 40910.18 Fibonacci Channel Expansions 41210.19 Fibonacci Arcs 41410.20 Supportive and Resistive Fibonacci Clusters 41510.21 Potential Barriers in Fibonacci Projections 41710.22 Fibonacci Time and Ratio Projection Analysis on Elliott Waves 41710.23 Chapter Summery 431Chapter 10 Review Questions 431CHAPTER 11 Moving Averages 43311.1 Seven Main Components of Moving Averages 43311.2 Nine Main Applications of Moving Averages 45111.3 Chapter Summary 462Chapter 11 Review Questions 463CHAPTER 12 Envelopes and Methods of Price Containment 46512.1 Containing Price Action and Volatility about a Central Value 46512.2 Adjusting Bands for Effective Price Containment 47512.3 Methods of Price Containment 47712.4 Chapter Summery 492Chapter 12 Review Questions 492CHAPTER 13 Chart Pattern Analysis 49513.1 Elements of Chart Pattern Analysis 49513.2 Preconditions for Reliable Chart Pattern Reversals 49913.3 Popular Chart Patterns 50213.4 Chapter Summery 540Chapter 13 Review Questions 540CHAPTER 14 Japanese Candlestick Analysis 54114.1 Elements of Candlestick Analysis 54114.2 Popular Candlestick Patterns and Their Psychology 55514.3 Integrating Candlestick Analysis 57814.4 Filtered Candlesticks 58314.5 Trading with Candlesticks 58414.6 Chapter Summary 588Chapter 14 Review Questions 588CHAPTER 15 Point?]and?]Figure Charting 58915.1 Basic Elements of Point?]and?]Figure Charts 58915.2 Basic Point?]and?]Figure Chart Patterns 60015.3 Point?]and?]Figure Minimum Price Objectives 61915.4 Bullish Percent Index and Relative Strength 62315.5 Chapter Summary 624Chapter 15 Review Questions 624CHAPTER 16 Ichimoku Charting and Analysis 62716.1 Constructing the Five Ichimoku Overlays 62716.2 Functional Aspect of Ichimoku Overlays 63316.3 Advantages and Disadvantages of Using Ichimoku Charting 64316.4 Time and Price Domain Characteristics of Ichimoku Overlays 64416.5 Basic Ichimoku Price?]Projection Techniques 64916.6 Chapter Summary 649Chapter 16 Review Questions 650CHAPTER 17 Market Profile 65117.1 The Search for Fair Price or Value 65117.2 The Daily Profile Formations 66517.3 Chapter Summary 671Chapter 17 Review Questions 671CHAPTER 18 Basic Elliott Wave Analysis 67318.1 Elements of Elliott Wave Analysis 67318.2 Rules and Guidelines 67618.3 Motive Waves 67618.4 Corrective Waves 67818.5 Wave Extensions and Truncation 68218.6 Alternation 68318.7 Wave Equality 68318.8 Fibonacci Ratio and Number Analysis of Elliott Waves 68418.9 Chapter Summary 684Chapter 18 Review Questions 684CHAPTER 19 Basics of Gann Analysis 68719.1 Techniques of W. D. Gann 68719.4 Chapter Summary 710Chapter 19 Review Questions 711CHAPTER 20 Cycle Analysis 71320.1 Elements of Cycle Analysis 71320.2 Principles of Cycle Analysis 72020.3 Additional Cyclic Characteristics 72420.4 Tuning Oscillator and Overlay Indicators to the Dominant Cycle Period 72520.5 Identifying Price Cycles 72620.6 Chapter Summary 731Chapter 20 Review Questions 731CHAPTER 21 Volatility Analysis 73321.1 The Concept of Change and Volatility 73321.2 Some Statistical Measures of Price Volatility 74321.3 Other Measures of Market Volatility 75421.4 Chapter Summary 757Chapter 21 Review Questions 757CHAPTER 22 Market Breadth 75922.1 Elements of Broad Market Action 75922.2 Components of Market Breadth 76222.3 Market?]Breadth Indicators in Action 76522.4 Chapter Summary 777Chapter 22 Review Questions 777CHAPTER 23 Sentiment Indicators and Contrary Opinion 77923.1 Assessing the Emotion and Psychology of Market Participants 77923.2 Price?]Based Indicators versus Sentiment Indicators 78323.3 Assessing Participant Actions 78423.4 Assessing Participants' Opinions 78823.5 Chapter Summary 791Chapter 23 Review Questions 791CHAPTER 24 Relative Strength Analysis 79324.1 Measuring Relative Performance 79324.2 Chapter Summary 811Chapter 24 Review Questions 811CHAPTER 25 Investor Psychology 81325.1 General Behavioral Aspects 81325.2 Behavioral Elements Associated with Chart Patterns 81525.3 Behavioral Elements Associated with Market Trends 81725.4 Behavioral Aspects of Market Consolidations 82025.5 Behavioral Aspects of Market Reversals 82125.6 Chapter Summary 823Chapter 25 Review Questions 823CHAPTER 26 Trader Risk Profiling and Position Analysis 82526.1 Fulfilling Client Objectives and Risk Capacity 82626.2 Aggressive and Conservative Market Participation 82726.3 Categorizing Clients according to Term Outlook and Sentiment 83526.4 The Seven Participatory Options 83826.5 Triggers, Signals, Price Targets, and Stoplosses 83826.6 Confirming and Non?]Confirming Price Action and Filters 84126.7 Collecting, Categorizing, and Organizing Technical Data 84326.8 Multi?]Timeframe Confirmation 84526.9 Reconciling Technical Outlook with Client Interest 84626.10 Hedging Positions with Derivatives 84726.11 Chapter Summary 847Chapter 26 Review Questions 847CHAPTER 27 Integrated Technical Analysis 84927.1 The Integrated Components of Technical Analysis 84927.2 Classification of Clusters and Confluences 85427.3 Chapter Summary 877Chapter 27 Review Questions 877CHAPTER 28 Money Management 87928.1 Elements of Money Management 879Chapter 28 Review Questions 912CHAPTER 29 Technical Trading Systems 91329.1 Conceptualizing a Trading System 91329.2 Basic Components of a Trading System 91529.3 System Testing and Optimization 91529.4 Performance Measurement 91929.5 Chapter Summary 920Chapter 29 Review Questions 920Appendix A Basic Investment Decision Making Based on Chart Analysis 923Appendix B Official IFTA CFTe, STA Diploma (UK), and MTA CMT Exam Reading Lists 933About the Test Bank and Website 937Index 939