Charting the Major Forex Pairs: Focus on Major Currencies by James L. Bickford and Michael Archer is a strategic guide designed to provide a comprehensive understanding of the forex market. Tailored to both new traders and experienced market participants, this book delves deeply into the analysis of major forex pairs, offering insights into their behaviour and revealing patterns that can be capitalized upon.
The authors, Bickford and Archer, bring their substantial trading experience to the fore, exploring the unique characteristics of the major currency pairs. They discuss the factors that influence the movement of these pairs, such as economic indicators, geopolitical events, and market psychology.
The book stands out for its in-depth analysis of charting techniques and indicators. Bickford and Archer guide readers through various chart types and technical indicators, explaining their uses and limitations. Their explanation of how these tools can be applied to the major forex pairs is practical and insightful.
What sets “Charting the Major Forex Pairs” apart is its focus on market correlation. The authors delve into how the major forex pairs relate to other financial markets, such as commodities, bonds, and equities. This cross-market analysis provides traders with a broader perspective and helps identify potential trading opportunities.
The book is enriched with numerous charts, diagrams, and case studies, providing practical examples that bridge the gap between theory and practice. Furthermore, Bickford and Archer dedicate a section to risk management, emphasizing its crucial role in achieving trading success.
In summary, “Charting the Major Forex Pairs: Focus on Major Currencies” is an invaluable resource for any forex trader. The combination of fundamental market understanding, technical analysis, and practical application makes this book a compelling guide for those seeking to navigate the dynamic world of forex trading.