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Technical Analysis of the Currency Market by Boris Schlossberg: Mastering Forex with Proven Techniques
Learn to Decode Price Swings and Market Sentiment for Smarter Forex Trading
Technical Analysis of the Currency Market: Classic Techniques for Profiting from Market Swings and Trader Sentiment by Boris Schlossberg is more than just another trading manual—it’s a powerful toolkit designed for both forex beginners and seasoned currency traders seeking to refine their edge. Through clear explanations, practical examples, and psychological insights, Schlossberg presents a comprehensive guide to understanding technical patterns, indicators, and sentiment—the three pillars of profitable forex trading.
If you’re looking to build confidence in reading charts and timing trades with precision, this book belongs on your trading desk.
📘 What You’ll Learn from This Book
🌍 Understanding the Forex Market
Boris Schlossberg sets the stage by explaining the fundamentals of the forex market—a 24/5 decentralized market where currencies are traded in massive volume (over $6 trillion daily). Key characteristics like liquidity, volatility, and round-the-clock access are outlined to give readers a solid grounding.
You’ll gain perspective on:
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How macroeconomic events impact currency fluctuations
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Why sentiment and psychology play a bigger role than fundamentals alone
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The behavioral patterns behind price movements
📈 Core Concepts of Technical Analysis
This book lays out the essence of technical analysis (TA) with easy-to-understand breakdowns of chart patterns and indicators.
Chart Patterns Explained:
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Head and Shoulders: Signals potential reversals
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Triangles: Indicate breakouts after consolidation
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Double Tops/Bottoms: Suggest reversal points and entry opportunities
Technical Indicators Covered:
| Indicator | Purpose |
|---|---|
| Moving Average | Identifies overall trend direction |
| RSI (Relative Strength Index) | Detects overbought or oversold conditions |
| MACD | Measures trend momentum |
These tools are taught not in isolation, but as combined signals—a method Schlossberg calls “confluence”—to raise the probability of successful trades.
😯 The Power of Trader Sentiment
One of the book’s unique strengths lies in its attention to market psychology and sentiment indicators.
Tools for Reading Sentiment:
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COT (Commitment of Traders) Report: See how institutional traders are positioned
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Consumer Confidence Index (CCI): Gauge consumer optimism and economic outlook
Understanding sentiment shifts allows traders to anticipate volatility, spot overreactions, and avoid herd behavior.
⚖️ Risk Management Strategies
No trading strategy is complete without solid risk control—and Schlossberg nails this section with practical guidance.
Key Principles:
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Position Sizing: Risk only 1–2% of capital per trade
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Stop-Loss Placement: Automatically limit downside on each position
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Diversification: Spread trades across multiple pairs to reduce exposure
These methods help create longevity and sustainability in trading, not just short-term wins.
🧠 Real-World Application: From Theory to Execution
The book doesn’t stop at theory. Schlossberg walks readers through real trading scenarios that combine technical setups with sentiment analysis.
Example:
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A bullish divergence on RSI forms during a consolidation zone.
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COT report reveals large institutional buying.
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Trade: Enter long with a tight stop-loss and favorable risk-reward.
This fusion of logic, data, and timing showcases how readers can build their own reliable trading system.
✅ Pros and ❌ Cons Summary
| Pros | Cons |
|---|---|
| Combines TA with sentiment analysis | May be too basic for highly advanced traders |
| Practical and beginner-friendly | Some examples may feel outdated without real-time context |
| Strong emphasis on psychology | Not focused on automated or algorithmic strategies |
🎯 Final Verdict: Is Boris Schlossberg’s Book Right for You?
Yes—especially if you’re looking to master technical setups in forex with psychological insight.
Boris Schlossberg’s Technical Analysis of the Currency Market offers a clear, actionable, and well-structured blueprint for interpreting chart patterns and understanding trader behavior. With a focus on risk control and real-world strategy, the book helps demystify the forex market and turn theory into action.
Whether you’re:
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A beginner seeking a roadmap into forex trading, or
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An intermediate trader looking to blend TA with sentiment analysis,
this book provides a strategic edge to navigate market swings with confidence.
