Week 8 – Cool Source of Information : arts on charts

For the rest of the weeks, we will be shifting focus to technical analysis. The following 2 websites should be helpful for that.

•  Investopia (http://www.investopedia.com/university/technical): Andrew’s workshop on Technical analysis on the past Wednesday was enlightening. I seem to remember most of the names of the patterns, but not exactly how to make use of them. I found this site that offers a tutorial on technical analysis. As you go through the tutorial, you will get to learn about the philosophy behind Technical analysis, comparison between fundamental and technical analysis, price support and resistance, importance of volume and the price movement patterns, etc.
• TradingCharts (http://futures.tradingcharts.com/):  The charts here are rather interactive, you can click on the candlestick or the bar, etc of each day and the overview (volume., open interest, high price, low price, etc) of each trade day will be displayed. The charts also show the MADC (moving average divergence convergence) , RSI (Relative Strength Index), and Volume for further technical analysis. What’s more, it actually provides daily analysis (implications drawn from each indicator) underneath the charts. It’s good to learn from other’s analysis, learning from examples.  However, down the road, it’s important to do our own analysis instead of relying on others’ despite the convenience (there’s not too much explanation anyways, more on conclusions).

Happy trading with Technical Analysis or the combination of both Technical and fundamental analysis.

Cheers!