Since late March, AUDUSD(CME:ADZ4) has been trapped in a tight range between support at .9200 and resistance at .9500. Over that time period however, the price action has carved out a large head-and-shoulders pattern.
The world of technical analysis is complex, but with a working knowledge can be applied to virtually any market. Here we introduce you to 10 important rules of technical trading first described by technical trading legend John J. Murphy.
The technical analyst seeks tools that are independent of any particular market or time frame. You don’t need to modify your indicators to work with other markets. You just need to make them robust. Here’s how.