Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment by Boris Schlossberg is an invaluable resource for those interested in forex trading. The book presents a comprehensive guide to technical analysis tailored specifically for the foreign exchange market, an often volatile and challenging arena of investment.
Boris Schlossberg, a leading foreign exchange expert with a wealth of experience in global currency trading, brings his unique insights and practical knowledge to this book. He explains core concepts of technical analysis, such as trendlines, support and resistance, and chart patterns, and illustrates how these tools can be used to understand and predict forex price movements.
“Technical Analysis of the Currency Market” goes beyond the basic understanding of chart patterns and indicators. Schlossberg discusses more complex technical concepts such as Fibonacci retracement, pivot points, and Ichimoku clouds, explaining how to use these tools in the context of the forex market.
The author also explores the implications of trader sentiment on market movements. Understanding the psychology of other traders, as Schlossberg argues, can provide valuable insight into potential market shifts. He discusses ways to gauge market sentiment and outlines strategies for trading based on these sentiments.
Schlossberg further distinguishes his work with a chapter on trading strategies. He provides readers with a selection of trading systems that incorporate the technical analysis methods discussed in the book, offering both short and long-term strategies. These strategies are backed up with extensive backtesting data, giving readers a clearer understanding of their potential effectiveness.
“Technical Analysis of the Currency Market” is more than just a theoretical guide. It combines theory with practical application, giving readers the chance to apply the lessons learned to real-world trading scenarios. Whether you are a novice trader looking to understand the basics of forex trading or a more experienced trader seeking to deepen your technical analysis skills, Schlossberg’s book is an essential addition to your trading library.