- Part 1: Introduction to Basic Trendline Analysis

- Part 2: Introduction to Basic Pitchfork / Median-line Analysis

- Part 3: Introduction to Multi-Time Frame Analysis

- Webinar- Foundations of Technical Analysis: Trendline & Slope Analysis

- Webinar- Foundations of Technical Analysis: Identifying Confluences & Opening Ranges

See these tools & methodology used in practice, Join Michael for his Weekly Strategy Webinar on Monday mornings .

In this bi-weekly webinars series on the Foundations of Technical Analysis, we discuss the methodology of constructing a basic trade setup. In this session, we review how to incorporate the use of Fibonacci & RSI in our trading strategy.

Fibonacci retracements can be a useful tool in identifying where a corrective pullback could find support / resistance. This tool is best used in range scenarios or when price action is trading within the confines of a given high / low. In trending markets or breakout scenarios, Fibonacci extensions can project where a given advance / decline may encounter support or resistance.

We also reviewed using the Relative Strength Index (RSI) as a way of gauging when markets may be nearing points of exhaustion. This widely miss-understood oscillator can also provide hints regarding the broader directional trend.

A review of the latest AUD/JPY setup published earlier this month highlight a live example of how we utilities this type of analysis to translate an idea into an actionable trade.

• AUD/JPY Testing Key Support as Risk Aversion Drives Yen

In the next session we'll discuss how to integrate proper risk management alongside the concepts we've been covering to offer a more holistic trading strategy. Click here to register free!

Want more information on technical analysis and trading strategies? Check out our Free Trading Guides!

---Written by Michael Boutros, Currency Strategist with

Follow Michaelon Twitter @MBForex contact him at [email protected] or Clic k H ere to be added to his email distribution list.