2. Technical Analysis

3. Basics Analysis - Trading Alternative methods Examples Discussion

4. Basics The market discounts everything Chart types Simple tools

5. The market discounts everything TA is... a research approach, using only historical prices. the study of prices, with charts being the primary tool. a self fulfilling prophecy.

6. The market discounts everything TA assumes that… every information is in the market. we cannot predict the future, but react on the market. we don’t ask for the ‚WHY‘, but for the ‚WHEN‘ and ‚WHERE‘. we don’t want to understand the market, we just want to make money with it.

7. The market discounts everything TA has one target: Discipline

8. Function of value Value Profit Loss 1 x ~2x

9. Implications: Effect of disposition open position LOSSPROFIT -10 0 -20 10 20 0 Risk-seeking -> HOLDRisk-aversion -> GET OUT

10. Chart types Line charts Bar charts Candlestick charts

11. Simple tools trend channels support - resistance retracements others

12. trend channels

18. Support - Resistance

19. Simple tools Retracements  Using the Fibonacci - numbers: 0, 0.382, 0.618, 1  often also used: 1/3, 1/2, 2/3

20. Retracements

21. Analysis Indicators Oscillators Volatility

22. Indicators Moving Averages simple MA weighted MA exponential MA

23. Moving Averages

25. Indicators MACD MACD-line: EMA short-term – EMA long-term Trigger-line: EMA (MACD-Line)

26. MACD

27. Oscillators Momentum Stochastics many more (RSI, ROC, …)

28. Momentum

29. Stochastics

30. Volatility

31. Trading Noise Trading Technical Trading System Trading

33. Pre-ECB sideways market High: 107,23 Low: 107,62

39. Systems defined entry-signals winning trades - defined exit-signals loosing trades - defined exit-signals money management

40. Combined techniques

42. Alternative Methods Fibonacci Elliott Wave Theory Japanese Candlesticks

43. Fibonacci numbers n 1 2 3 4 5 6 7 8 9 10 11 12 13 F(n) 1 1 2 3 5 8 13 21 34 55 89 144 233 F(n) = F(n-1) + F(n-2) for n   : F(n-1) / F(n) = phi = 0.61803…

44. Fibonacci Retracements

45. Elliott Wave Theory 5 waves in direction of main trend 3 corrective waves The underlying 5-3 pattern remains constant, though the time span of each may vary.

46. Elliott Wave Theory

48. Japanese Candlesticks

49. Examples

58. Real-time example

62. Conclusio Information is pretty thin stuff, unless mixed with experience.