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Technical Analysis - An Introduction    
 
   

 

Objectives


The course is designed to provide a comprehensive overview of the essential concepts and techniques of Technical Analysis as practised today by many analysts, fund managers and traders in the capital markets. It is expected that certain insights from the additional framework provided by technical analysis will be useful in supplementing other macro-economic modelling tools available to financial professionals, and will assist them in the process of understanding better and even anticipating important market inflection points.

 

Target Audience


The course is suitable for both those who have exposure to the tools of technical analysis as applied to the understanding of financial markets, as well as those who are new to the topic. It is relevant to traders or investors in any asset class or market.

 

Length and Structure of the Course


The course covers two days of lectures which will feature many specific examples and case studies. Each day will consist of four separate ninety minute sessions with coffee breaks in the morning and afternoon with a lunch break in the middle. There is no formal examination for the course but candidates will receive a certificate of attendance.

 

Course Tutor


Clive Corcoran
Clive is an FSA Registered Investment Adviser and currently advises private clients on how to practise long/short market neutral strategies.  As an author he has written Long/Short Market Dynamics: Trading Strategies for Today’s Markets which was published by Wiley in 2007 and his articles have appeared in Traders’ Magazine and Active Trader.


In recent years he has been a frequent contributor to CNBC’s European Closing Bell and has also been a speaker at international trading expos and workshops.   Currently Clive is writing a new book focused on examining limitations in current macroeconomic theory, especially relating to market liquidity, and how insights from technical analysis and other disciplines can contribute to a better understanding of systemic financial risk.

Course Brochure

Click here to download the Technical Analysis - An Introduction course brochure.

 

Course Outline
 

Session 1 Contents 

The rationale for studying Technical Analysis (TA)

 • Why study Technical Analysis?
• Contrast between fundamental analysis and technical analysis
• How does TA fit with the Efficient Markets Hypothesis?
• Overview of price patterns
• Synopsis of historical TA literature – Dow, Elliot, Gann, Wilder


Session 2 Contents 
Fundamentals of Charting and Pattern Analysis • Charting as foundation of TA
• Principal chart types
• Candlestick charts – history and contemporary usage
• Point & Figure and Ichimoku Charts
• Effective patterns and how to trade them


Session 3 Contents 
Trends and Moving Averages • Identification of short, medium and long-term trends
• Trend channels – support/resistance
• Moving averages as foundation of trend analysis
• Types of moving averages – simple, exponential and strengths/limitations of each.
• Gaps, congestion and breakaway patterns

Session 4 Contents 
Volume, Money Flow and Momentum • Volume as a leading indicator
• “Smart Money” – does it really exist?
• Momentum indicators and oscillators
• On Balance Volume (OBV), Money Flow Index (MFI) and Moving Average Convergence and Divergences (MACD)
• Accumulation/Distribution
• How momentum interpretation is used in trading strategies

Session 5 Contents 
Technical divergences & market dissonance

• Divergences between price and volume, price and momentum etc.
• Reversal patterns and major inflection points - how to identify/anticipate them.
• False breakouts and non-confirmations
• Divergence between the MACD and closing price, MFI or OBV and the closing price.
• Corrections- when and how far will they go?


Session 6 Contents 
Volatility, Liquidity and Correlations • Different ways of measuring volatility
• Relationship of liquidity and volatility
• Heightened sector and asset class correlations associated with increased volatility
• Volatility clustering – market regimes etc.
• Algorithmic trading and volatility?
• Interpreting the CBOE Volatility Index (VIX)


Session 7 Contents 
Elliott Wave Theory, Cycles and Miscellaneous Indicators • Explanation of the basics of Elliot Wave theory
• Market cycles - amplitude, length, phase etc.
• Directional Movement Index
• Commodity Channel Index
• Fibonacci ratios, fan lines, arcs etc.
• Psychology of fibonacci retracements

Session 8 Contents 

Trading strategies inspired by Technical Analysis

 • Inter-market analysis and strategies 
• Sector rotation strategies
• Liquidity conditions and financial contagion.
• Technical analysis of exchange traded funds (ETF’s)
• Overview of some technically driven “quant” models.

 
   
 

Details of the next seminar


London, Great Britain
Next course dates to be announced
Thomson Reuters
Venue:
Thomson Reuters
30 South Colonnade
Canary Wharf
London,  E14 5EP

This is be a joint ICMA / Thomson Reuters run course.  Thomson Reuters is the leading source of intelligent information for the world’s businesses and professional and is powered by the world’s most trusted news organization.
   
   
 

Costs
 

The cost will be £800.00 for ICMA Members and £1,040.00 for non-members.  Current Thomson Reuters customers who are personally registered as a Thomson Reuters product user are also entitled to ICMA Member discount.  The following discount scale is offered:
2-4 candidates – 5% discount each*
5+ candidates – 10% discount each*

*Please note that discounts are applied by way of a refund to the organisation when registration has closed and the final number of candidates from the firm has been determined.

Note that anyone requiring accommodation to take the course will be required to arrange this on their own; it is a class-based but non-residential course.
   
   
 

For more information


This course is also available on a group booking basis, for more information please email ta@icmacentre.ac.uk

 

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"Stimulating course - helped me understand the complex dynamics that turn TA into an appealing tool for financial market analysis."
Lia Cruz, Investment Division, European Central Bank

“I found the course fascinating in getting an insight into the psychology of the market and why certain movements happened or may happen. I would have no hesitation in recommending it to anyone with an interest in financial markets.”

John Hoare, Independent Trader

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