2021 Volume 28 Issue 3

IN THIS ISSUE
1

President’s Report to Colleagues

22021 IFTA Board of Directors Nominations

5

Member Newsa newsletter for the colleagues of the International Federation of Technical Analysts

President’s Report to Colleagues

The IFTA UPDATE is a publication of the International
Federation of Technical Analysts, Inc. www.ifta.org, a notfor-profit professional organization incorporated in 1986.
International Federation of Technical Analysts
1300 Piccard Drive, Suite LL 14
Rockville, MD 20850 USA
Email: admin@ifta.org • Phone: +1 240-404-6508

Education Lounge

116Winter Is Coming...Are You Ready?

8

Inverted Flat, The Unknown Formation

2021 Conference: Speakers and Schedule

18 Congratulations New CFTes
18 MFTA and CFTe Exam Dates
19 Congratulations New MFTAs
20 Calendar-at-a-Glance
24 IFTA Member Societies
24 Board of Directors
24 IFTA Staff

Next Issue: December 2021
Submission Deadline: November 15
Education Lounge articles: Send
submissions to newsletter@ifta.org.
All other content: Send submissions toadmin@ifta.org.
Advertise in the UPDATE and reach morethan 7,000+ IFTA colleagues worldwide.
For more information, go to www.ifta.org.

Dear colleagues,
Don’t you sometimes thinkthat the reality you live infeels a bit different than
the reality that is told toyou? These days, there aremany examples of this experience. Take thestill ongoing pandemic situation.
Even today, restrictions and lockdowns aren’tgone for good. Traveling is not possible everywhere; quarantines are in place, or sometimes
you can’t enter a country at all. Stores, restaurants, and meetings are highly regulated insome parts of the world. Looking at this, one
might feel that this would somehow affectthe economy and therefore the markets. Yet
it doesn’t. World markets are climbing likenever before; every slight correction is still abuy, and prices keep on rising. How does thisfit together?
As another example, look at the inflation rates
and ask your friends and neighbors. What istheir experience? It is not necessary to mention

that their reality of inflation is different from thegiven numbers. Most would say that their inflation is much higher than what they hear about.
As analysts, we always draw conclusions about
the world we are living in. So, we might thinkthat pandemic and all-time highs or rising costsof living and moderate inflation rates aren’t theperfect fit, and, therefore, we could think of adivergence of realities. As a result, we might
become skeptical and believe there will be falling prices, corrections, or even a crash. But, as
technical analysts, we can avoid this trap. We
look at the charts and draw our conclusions.
For us, there is no such thing as different realities. There are just prices. And as analysts, weknow that the market is always right. So, wetake the charts, use our instruments, and draw
conclusions and scenarios from that. And thenwe use the probability of occurrence. For us,
this is the key element. In an uptrend, no matter what you think of the reality, the probabilityof rising prices is higher than of falling prices.
And that’s all we need to know.

IFTA 2021 Annual General Meeting
Thursday, 7 October; 1:00 pm EDT (Virtual)All IFTA colleagues are invited andencouraged to attend. For further information,
contact IFTA staff.

As IFTA president, I am more than happy toinvite you to our 34th IFTA Annual Conference
from 8–9 October 2021. For the second year ina row, the conference will be held online. I’d liketo take this opportunity to first, thank AAPTA fororganizing this year’s conference and second,to successfully face the challenge to switch theorganization from in-person to online again.
I hope to see all of you at our second virtual
conference and hopefully in person soon.

All the best,

Wieland Arlt
IFTA President

IFTAUPDATE 2021 Volume 28 Issue 3

page 22021 IFTA Board of Directors Nominations(Term October 2021–October 2024)
Nominations were received for seven open positions on
the IFTA board of directors. Elections will be held virtually at the Annual General Meeting (AGM) on Thursday, 7
October, 2021.
If you would like to contact any of the candidates, pleaseemail the IFTA staff at admin@ifta.org, and we will be glad
to facilitate your communication.

Connie Brown, CFTe, MFTA
Nominated by: AAPTA (USA)Current Board Member: No

Connie Brown founded Aerodynamic
Investments Inc. in 1996 to advance thefield of technical research using Gann
Theory. Ms. Brown has 32 years of experience in the financial trading industry.
She worked as a frontline trader for 12
years on S&P 500 institutional trading
desks in New York and Boston and thensix years managing her own global equity futures hedge
fund. Early in Ms. Brown’s career, she was the senior S&P
500 analyst for Elliott Wave International’s
Ms. Brown was honored recently as the 2018 Hall of Fame
inductee by the Canadian Society of Technical Analysts.
She continues to practice technical analysis, actively trading from her office in North Carolina and advising numerous financial institutions and banks around the world on
her technical strategy. Ms. Brown has written nine books.
Fibonacci Analysis, published by Bloomberg Press, won
the Gold medal in the Global 2009 Axiom Business Book

Awards. Technical Analysis for the Trading Professional
is required reading for the IFTA CFTe exams. The same
book was previously required for the CMT III certification.
Her ninth book, on Gann Analysis, titled The Thirty-Second
Jewel, was released in 2019. In two years since the late2019 release, the industry has named her latest book as
the leading source for all things Gann. The book covers
all of W.D. Gann’s methods, formulas, and time factors as
cross-referenced to Gann’s own books.
Ms. Brown is on IFTA’s Education Committee. She holds
the industry’s highest accreditation, Master of Financial
Technical Analysis.

Bruce Fraser

Nominated by: AAPTA (USA)Current Board Member: No
B ruce Fraser, an indus t r y - leading"Wyckoffian," began teaching graduatelevel courses at Golden Gate University(GGU) in 1987. Working closely withthe late Dr. Henry (“Hank”) Pruden, hedeveloped curriculum for and taught
many courses in GGU’s Technical Market
Analysis Graduate Certificate Program,including Technical Analysis of Securities, Strategy and
Implementation, Business Cycle Analysis, and the Wyckoff
Method. For nearly three decades, he co-taught Wyckoff
Method courses with Dr. Pruden and has also used thisapproach to the markets as the foundation of his own trading for over 35 years.

Mr. Fraser was co-founder, principal, and portfolio manager at Pring-Turner Capital Group with Martin Pringand Joe Turner. He has retired and now teaches the
Wyckoff Method, trades, and creates blogs and videos
at Stockcharts.com. He is currently a commentator on
the Wyckoff Method for Stockcharts.com and co-hosts a
weekly Wyckoff webinar at Wyckoff Analytics. Mr. Fraser ispast-president and current chair of the Technical Securities
Analysts Association of San Francisco (tsaasf.org), which is
the oldest technical analysis society in the United States.

Tamer Gamal, CFTe, CETA
Nominated by: ESTA (Egypt)Current Board Member: No

Tamer Gamal, CFTe, CETA, is currently
the head of Arab African International
securities (AAIS) Technical Analysis
Research, a subsidiary of Arab African
Bank (AAIB).
With a background in engineering, Mr.
Gamal joined the financial markets industry in 1998 in the areas of thought equity/currency tradingand private portfolio management. He joined the AAIS
team in 2007. Since then, he has developed and promoted
AAIS technical analysis research with tailor-made strategies and techniques. Starting from scratch, AAIS technical analysis research has grown in terms of coverage andquality to cover several exchanges within the MENA region.
AAIS technical analysis research expanded further to coverinternational markets, commodities, and, from time to time,
foreign currencies.

IFTAUPDATE 2021 Volume 28 Issue 3

In 2011, Mr. Gamal was elected chair of board of theEgyptian Society of Technical analysts (ESTA), following
three years as an ESTA board member. In 2008, he wasawarded IFTA’s Bronwen Wood Memorial Award for best
achievement of the year. In 2017, he was unanimously
elected as IFTA vice president responsible for the MENA
region. In this capacity, he educates institutional and individual clients on the merits of technical analysis and why
AAIS utilizes a technical rules-based model to oversee
clients’ requirements. Mr. Gamel is a regular contributor to
many local journals and TV shows. He is often interviewed
by Bloomberg, Reuters, and Business Monthly (American
Chamber of Commerce). Mr. Gamal has held many conferences and education seminars/programs that promotetechnical analysis methodology as the primary investment
tool and a proactive marketing add-on.

Alessandro Greppi, Ph.D.
Nominated by: SIAT (Italy)
Current Board Member: No

Alessandro Greppi, Ph.D., is an equity
and funds portfolio manager at Zurich
Insurance Company Ltd., a certified
SIAT technical analyst, and a lecturer. He
holds a Ph.D. in economics and management of technology; a master of sciencein economics, finance, and international
integration; and a bachelor’s degree inpolitical science and international relations.

page 3

Nik Ishan Raja Abdullah, MSTA, CFTe
Nominated by: MATA (Malaysia)
Current Board Member: Yes

Alessandro Moretti, CFTe, MFTA
Nominated by: SIAT (Italy)
Current Board Member: No

N i k I h s a n R a j a A b d u l l a h , M S TA(Distinc tion), CFTe, is a char tist at
Maybank Investment Bank Berhad,
one of the leading investment banks in
Malaysia. His outreach to the Maybank
group includes providing market outlook
and training to the employees and thebank’s clients within the Asia-Pacific

Alessandro Moretti, CFTe, MFTA, is atrader, advisor, financial analyst, andauthor specializing in the stock market.
He founded the project http://segnaliditrading.net/ in 2016, where he was thecreator of an operative strategy, handles
investment portfolios, and provides professional financial education for retail andprofessional clients.

In the local investment scene in Malaysia, Mr. Abdullah is
an active speaker and trainer of technical analysis, where
he shares his insight via research reports with corporate
and individual investors on a daily basis and at seminars, aswell as reaching out to the public through social media andthe local print media. To date, he has trained and taught
over 3,500 individuals from various backgrounds, including financial market professionals. Mr. Abdullah also gives
lectures at technical analysis preparatory programs thatcater to financial industry professionals obtaining theirprofessional certification in technical analysis. He was theconference director for the 31st IFTA conference and is
the president of the Malaysian Association of TechnicalAnalysts, of which he is one of the founding members.

In 2017, Mr. Moretti co-founded IoInvesto.com, the largest investment community in Italy, which won the award
for Best Digital Project of 2020 (LeFonti Awards, Financecategory). Since 2018, he has held lectures on finance inschools and universities (e.g., the University of Bergamo)
and is a guest on financial-themed television broadcasts,
such as Omnibus on La7.

region.

Warren Murnane, Dip TA, CFTe, ST & I(Wealth Within)
Nominated by: ATAA (Australia)
Current Board Member: No

Warren Murnane, Dip TA, CFTe, is thepresident of the Australian TechnicalAnalysts Association (ATAA). He regularly makes FX/Algo presentations to the
Brisbane branch of ATAA and regularly
consults with other traders and academics in related trading fields.
Prior to Mr. Murnane’s trading experience, which exceeds
a decade, he had a diverse business background,IFTAUPDATE 2021 Volume 28 Issue 3

including the formation and growth of several businesses(e.g., mechanical repairs/earthmoving/civil construction/
OHS consultancy, IT).

Zainal Osman, MSTA, CFTe
Nominated by: ATAA (Australia)
Current Board Member: No

Since 1985, Zainal Osman has worked at
Inter-Pacific Securities Sdn Bh, where heis the senior vice president of fundamental research, fusing technical analysis ininvestment decisions. He is the liaison
for IFTA member society Malaysian
A ssociation of Technical Analyst s(MATA), where has relentlessly promoted
the need for technical analysis certification in Malaysia
and the proper use of technical analysis. Mr. Osman has
attended every IFTA conference since 2015 (Tokyo) andhas been actively involved with MATA since its inception
in 2013. He holds a diploma in investment analysis fromthe University Technology Mara, Malaysia.

Indarwijaya Rangkuti, MBA, CTA
Nominated by: AATI (Indonesia)
Current Board Member: No

Indrawijaya Rangkuti, MBA, CTA, is anasset manager for private clients andcompanies with Migliore Investment
Indonesia as well as an independent
trade coach. He often collaborates withIFTA members to share market outlooks
and trading knowledge. As a trader andanalyst, he researches how to simplify
WD Gann’s theory to be more applicative. Mr. Rangkuti wasa speaker at the 2020 IFTA Annual Conference.

page 4

Mr. Rangkuti is the treasurer of AATI (Asosiasi Analis
Teknikal Indonesia). He is also a speaker on market andstock technical analysis on several TV programs and at various seminars and workshops related to technical analysis
applications for investors and traders.

Ayman Waked, CFTe, MFTA
Nominated by: ESTA (Egypt)Current Board Member: No

Ayman Waked, CFTe, MFTA, joined
SIGMA Capital in 2015 and is the managing director and CIO. Prior to joining,
Mr. Waked held various posts at a number of prominent investment banks. He
is a founder of the Egyptian Society ofTechnical Analysts (ESTA) and was chairof the IFTA Annual Conference in 2007.
Mr. Waked was the vice president of IFTA for the Middle
East and Africa from 2007–2009. He was also the presidentof ESTA from 2002–2008.
Mr. Waked has been an instructor of technical analysis
and capital markets at the American University in Cairo(Institute of Banking and Finance Department) since 2004.

Hiwon Yoon, Ph.D., CMTA
Nominated by: NTAA (Japan)
Current Board Member: Yes

Dr. Hiwon Yoon received his Ph.D. inmechanical engineering from Keio
Universit y in Japan. He star ted hisbusiness career in 1989 as a trader ofJapanese stocks and derivatives at
Salomon Brothers Asia in Japan and,later, in Hong Kong. From 2000–2007,
he was a director of CMD Research Ltd.,
where he managed the company and analyzed financial
markets. Since 2007, he has been the president of CMD
Laboratory Inc., a group of research professionals in thetechnical, medical, and agricultural fields who create models for financial markets. In 2017, Dr. Yoon founded Bit-Algo
Exchange Inc., the registered cryptocurrency exchange
dealer, and in 2019, he established CMD Holding Inc.,
grouping all of his businesses.
Dr. Yoon is approaching the end of his first term as IFTA’s
vice president–Asia Pacific and is eager to accept his second term. He has long served NTAA as one of its councilors. Apart from his business, he has a keen interest in
educating younger generations on the management ofventure businesses at the Digital Hollywood University inTokyo as a visiting professor.

IFTAUPDATE 2021 Volume 28 Issue 3

page 5

Member NewsThe Society of Technical Analysts(STA, United Kingdom)
The STA is looking forward to starting in-person events
again this fall, beginning with a stand-up drinks reception—"Freedom Party”—on Thursday 23 September. The
party was held at the National Liberal Club.
Fall also sees the start of our “virtual classroom”
courses. Held via live Zoom webinar, 18.00–19.30 UK
time, the next Diploma Part 1 Course will commence on
Wednesday 13 October 2021, and the Diploma Part 2
Course will start on Wednesday 12 January 2022. The
courses are fully interactive, with students being able toask questions as they would in a classroom. They may
also post questions on the STA Student Forum and areinvited to join the official STA Diploma Course WhatsApp
group.
The beauty of these courses being held online meansthat anyone around the world can attend and benefit
from learning from leading practitioners, including Clive
Lambert, founder of FuturesTechs (nine-time winner at
the Technical Analysts Awards); Axel Rudolph, director,
Commerzbank; Thomas Anthonj, senior technical strategist, Global Macro Cycle Partners (previously head oftechnical analysis, JPMorgan); and Murray Gun, head ofresearch, Elliott Wave International.

In July, we hosted a joint panel discussion with ACI UK,
giving the forecast for fundamental vs. technical analysts
for the second half of 2021. In September, we welcomed
U.S. high performance coach Denise Shull, founder ofthe ReThink Group, as our guest speaker in the continuing series of online webinars.
Visit the STA website www.technicalanalysts.com for
more information.
Keep in touch with us via our online blog, follow us on
Twitter @STA_ORG or LinkedIn and like our Facebook
page.

IFTAUPDATE 2021 Volume 28 Issue 3

page 6

Education Lounge

Winter Is Coming…Are You Ready?
By Henry Ong

A poet once said that if you study the rhythm of life on this planet, you will find thateverything moves in perfect symphony. Just as the oceans could replenish themselveswith waves to wash ashore, the earth can heal and regenerate itself.
In the early 1920s, a young Russian economist by the name of Nikolai Kondratiev theorized that the long-term expansion and contraction of a capitalist economy tends tomove in a certain rhythm every 50 to 60 years. Kondratiev explained that these rhythms,
which would later be known as K-waves, consist of four distinct phases. The first phaseis what we call “spring,” which lasts for about 25 years. This is the period where economic growth is driven by technological innovations, resulting in strong employment
numbers and increased productivity. As wealth accumulates, the overall prosperity starts
to create increasing demand for goods and assets, which eventually leads to inflation.
At first, the rise in prices will be benign because it will encourage more production,
but the economy will come to a point where it has already reached its limit. This is thepart where the economy will enter its second phase that we call “summer.” During thisphase, which takes about five years, the economy begins to slow down due to risingcosts brought about by shortages in resources. Businesses will have slower growth,falling profits, and lower returns on investments. But once the economy endures a brief
contraction, it will enter another phase called “autumn,” where it will have a stable periodof relatively flat growth that can last for about 10 years. By this time, the economy will
have low inflation and interest rates. The low interest rate environment will encourage
consumers to borrow, causing a rapid increase in debts.

When the excesses of the “autumn” period finally catch up, the economy will collapse
into a depression. This phase, which we call “winter,” will be characterized by risingbankruptcies and high unemployment rates. The crisis will persist for about three years
as consumers try to unload their debt burden. The deleveraging process will eventually lower aggregate demand, leading to a 15-year deflationary period. According toKondratiev, this great depression will serve as a cleansing period for the economy toadjust its imbalances and prepare it for the next growth cycle.
Kondratiev, who was able to predict the Great Depression of the 1930s, unfortunately
did not live to see his theory gain wide acceptance because he was executed during
the Great Purge in 1938 for criticizing the economic reforms of the Soviet dictator,
Joseph Stalin.
If we apply this theory to our current situation, given the trends in inflation and interest
rates in the past years, it appears that we are about to enter the winter phase of theK-wave cycle. For example, the historical monthly headline Philippine inflation rate has
been declining from a high of 7.3 percent in October 2008 to 2.7 percent in July of thisyear. Interest rates, on the other hand, have also been on a downtrend, with the 10-year
Philippine bond yield falling from 9.6 percent in 2008 to 2.61 percent today. Although
we never had an economic contraction in the past, our economy almost declined in
2009, with only 1.1 percent growth before it entered a period of stable growth.

IFTAUPDATE 2021 Volume 28 Issue 3

page 7Winter Is Coming…Are You Ready? continued

Education Lounge

If we check the level of indebtedness in the economy, total loans exposure of banks asa percentage of Philippine GDP (gross domestic product) has almost doubled since thefinancial crisis, from 25.3 percent in 2008 to 47.9 percent in 2019. Real-estate-relatedloans in the Philippines have almost tripled, from 3.7 percent in 2008 to 9.0 percent in
2019, while credit card and auto loans have more than doubled to 4.5 percent last year
from only 2.1 percent in 2008.
Assuming we are indeed in the winter phase of the cycle, it will take about three yearsof cleansing for the economy to deleverage, which could send us into a depression.
Whether the K-wave cycle is valid or not, there is no doubt that we are in the phase of
decline brought about by the coronavirus crisis, and it could last for some time.

Henry Ong is founder and president of the Society of Technical Analysts Philippines.
He has 30 years of experience in equities trading and research. He currently sits
as advisor to several listed companies in the Philippines as well as serving as amember of the board in various publicly traded mutual funds.

IFTAUPDATE 2021 Volume 28 Issue 3

page 8

Education Lounge

Inverted Flat, the Unknown Formation
By El-Sayed Owaidy

In his last book, Nature's Law: The Secret of the Universe, published in 1946, under
the section "Enlargement of Correction,” Ralph Nelson Elliott explained the inverted
flat formation. Then, Robert Prechter republished it in his book, The Major Works of
R. N. Elliott, and commented on it in the footnote on pages 181 and 182, but strangely
enough, he didn't mention it in his famous book, Elliott Wave Principle. Perhaps this is
the reason that formation is unknown to many. Let us read what Elliott wrote.
Enlargement of Corrections
It is important to graph a movement in the daily range in order to know whether or not
the first upward movement is composed of three or five waves. The weekly range might
not disclose this fact. For example, in Figures 53 and 54, an inverted flat is shown inboth daily and weekly range. Note that in the weekly range, the precise compositionof the first wave up is not disclosed, and the student might erroneously assume that itwas composed of five waves in the daily. The weekly range of an inverted flat would
appear as being composed of seven waves, whereas it would be an inverted flat, i.e.,
A, B, (1, 2, 3, 4, 5) C, as shown in Figure 53.

IFTAUPDATE 2021 Volume 28 Issue 3
Inverted Flat, the Unknown Formation continued

Regular, expanded, or running flat may develop to an inverted flat as shown in Figure 1.

A flat wave has three waves: A, B, and C. Waves A and C are corrective while wave C isa motive one, and it might be an extended impulse wave. For this reason, this impulse
wave may travel too far away beyond the end of wave A, creating an inverted flat. In fact,
this is happening with sudden, strong, and unexpected events, or at least unexpectedin strength. Consider the following example.
The whole world kept an eye on the trade war between the United States and China
during the Trump presidency. That trade war had a great impact on gold, which wasconsidered by many types of investors as the most appropriate safe haven in such circumstances. Because of this, instead of the rise of gold stopping at the upper bordersof the ascending triangle, which was building during that period at a level of $1,375 (wereferred to this triangle at the end of the article on page 19 of the IFTA Update, March
2019, as shown in Figure 9), it continued to rise until the level of $2,074, forming an
inverted flat, as shown in Figure 10.

page 9

Education Lounge

IFTAUPDATE 2021 Volume 28 Issue 3
Inverted Flat, the Unknown Formation continued

Another Example on Small Frame: Bitcoin, 4h Chart, Wave (B) as an
Inverted Flat
Figure No. 3 shows a complete inverted flat on the Bitcoin.

Figure No. 4 shows the declining of wave (C).

page 10

Education Lounge
El-Sayed Owaidy, CETA, CFTe, is a member of IFTA’s Education Committee, anElliott wave lecturer at the Egyptian Society of Technical Analysts, and founder ofthe Egyptian Academy for Elliott Wave.

IFTAUPDATE 2021 Volume 28 Issue 3

page 11IFTAUPDATE 2021 Volume 28 Issue 3

page 122021 Conference: Speakers
Friday, 8 October 2021
KEYNOTE – After a Summer ofIndigestion, Year-End Opportunities
Tony Dwyer | Canaccord Genuity, Macro
Group Head | Senior Managing Director| Chief Market Strategist – www.dwyerstrategy.com
As a strategist, Tony Dwyer is best
known for the practical application of macroeconomic
and tactical market indicators designed to assist institutional clients in making intermediate-term market andsector investment decisions. He is frequently seen andquoted on the various financial news outlets, such as
CNBC, Barrons, FOX Business, and Bloomberg. Tony’s
presentation takes a look at the current and historicalmacroeconomic and financial market data to employ apractical, intermediate-term investment strategy.
Tony joined Canaccord Genuity in March 2012 following the acquisition of Collins Stewart, where he served
as senior managing director and chief equity strategist.
Prior to that, he was chief equity market strategist and codirector of research for FTN Financial’s equity arm from2003–2010. In addition to his analyst role at FTN, Tonyalso held the title of co-director of research and chair of
the investment committee and sat on the firm’s Operating
Committee. He is a graduate of LeMoyne College with abachelor’s degree in political science and currently sitson LeMoyne’s Board of Trustees.

Break the Cycle of Greed and Fear
When Investing in Today’s Markets
Wieland Arlt, CFTe | Torero Traders
SchoolIn today’s markets, investors and traders often find themselves on the wrong
side of the trade. Driven by greed andfear, they react instead of using clear, concrete tools for
decision-making. The result is that some investments
are profitable just for a short period of time and becomea losing position in the portfolio after a while. In his presentation about the cycle of greed and fear, Wieland Arlt
covers how to overcome one’s own emotions and makerational investment decisions again.
Wieland holds a degree in economics and is a Certified
Financial Technician (CFTe®), coach, and trainer. As a professional trader, he has dealt with the subject of investing
and trading for many years. He is the author of the bestselling books Risk and Money Management–Simplified(German), Risk and Money Management for Day andSwing Trading (English), and 55 Reasons to Become aTrader (German), as well as numerous articles in leading
financial magazines. Wieland is president of IFTA and aboard member of the Association of Technical Analysts
in Germany (VTAD) and is also a sought-after speaker atinternational investment conferences. As trader, coach,and trainer, it is important to Wieland to train every traderwith approaches that are easy to understand and therefore, easy to implement.

Declutter the Trade Toolbox to
Improve Trade Performance
Daryl Guppy | CEO, Guppytraders.
com – Darwin, Singapore, Beijing –www.guppytraders.com
Your trading software is stuffed withhundreds of indicators, so how do you
know which are most appropriate for the way that you
want to trade? Daryl Guppy considers three elements ofmarket analysis and shows how he uses those to selectappropriate indicators. It’s a toolbox cleanout that leaves
you with just the most effective analysis and trade management instruments. Daryl starts with behavioural patterns and then applies psychological analysis tools for
insights into trend behaviour. Finally, he uses volatility
management to define entry, stop loss, exit points, andconditions. The tool set he uses may not be yours, but
by explaining why these tools are selected and how they
are assembled, he gives you the process you can apply
to make the best use of your much-loved indicators.
Daryl Guppy has provided trading and investment analysis of financial markets for more than 25 years. He trades
his own capital and has a well-established public recordof successful trade calls for trading local and global
equity, commodity, and FX markets. Recognised as aninternational investment master, Daryl has nine books
published by John Wiley, including Trend Trading and
The 36 Strategies of the Chinese for Financial Traders.
He has developed several technical indicators that areincluded in industry standard software such as Metastockand many other charting programs. Daryl is a regular contributor for financial magazines and media in Singapore,
Malaysia, China, Australia, and the United States. He is

IFTAUPDATE 2021 Volume 28 Issue 3

page 132021 Conference: Speakers continued
a columnist in Singapore’s The Edge, Business Times,
China Daily, and Shanghai Security News.
Elliott Wave and All Things Gann
Connie Brown | Technical Analyst,
Founder of Aerodynmic Investments
Inc., Author and Consultant
Connie Brown holds the technical analyst industry’s highest accreditation,
Master of Financial Technical Analysis.
Her 32 years of experience in the financial trading industry includes frontline trader for 12 years on S&P 500 institutional trading desks in New York and Boston and six
years managing her own global equity futures hedge
fund. Connie founded Aerodynamic Investments Inc. in1996 to advance the field of technical research using
Gann theory. Early in Connie’s career, she was the senior
S&P 500 analyst for Elliott Wave International’s institutional division. She continues to practice technical analysis, actively trading from her office in North Carolina andadvising numerous financial institutions and banks aroundthe world on her technical strategy.
Honored as the 2018 Hall of Fame inductee by the
Canadian Society of Technical Analysts, Connie has
written nine books. Fibonacci Analysis, published byBloomberg Press, won the Gold medal in the Global 2009
Axiom Business Book Awards, and Technical Analysis for
the Trading Professional is required reading for the IFTA
CFTe exams. Her ninth book on Gann Analysis, titled The
Thirty-Second Jewel, was released in 2019. In two years
since the late 2019 release, the industry has named herlatest book as the leading source for all things Gann thatcovers all of W.D. Gann’s methods, formulas, and time
factors as cross-referenced to Gann’s own books.

Bollinger Bands 2021
John Bollinger | American Author,
Financial Analyst, Technical ResearchContributor, Creator of Bollinger Bands
Bollinger Bands are a technical trading
tool created by John Bollinger in theearly 1980s and designed to answer
the question “Are prices high or low on a relative basis?
They arose from the need for adaptive trading bands
and the observation that volatility was dynamic rather
than static, as was widely believed at the time. Bollinger
Bands can be applied in all the financial markets, including equities, forex, commodities, and futures and used inmost timeframes, from very short-term periods to hourly,
daily, weekly, or monthly.
John's book, Bollinger on Bollinger Bands (2001), hasbeen translated into 11 languages. He has published theCapital Growth Letter since 1987, a newsletter that provides technical analysis of the financial markets. As president and founder of Bollinger Capital Management, John
offers technically focused money management services
to individuals, companies, trusts, and retirement plans.
Wyckoff Method in Modern Markets
Bruce Fraser | Indus t r y- leading“Wyckoffian,” Educator, Commentator
on Wyckoff Method for Stockcharts.com
Bruce Fraser, an industry-leading"Wyckoffian," began teaching graduatelevel courses at Golden Gate University(GGU) in 1987. Working closely with the late Dr. Henry(“Hank”) Pruden, he developed curriculum for andtaught many courses in GGU’s Technical Market Analysis
Graduate Certificate Program, including TechnicalAnalysis of Securities, Strategy and Implementation,
Business Cycle Analysis, and the Wyckoff Method. For
nearly three decades, he co-taught Wyckoff Method
courses with Dr. Pruden, and has also used this approachto the markets as the foundation of his own trading forover 35 years.
Bruce was co-founder, principal, and portfolio manager at Pring-Turner Capital Group with Martin Pringand Joe Turner. He has retired and now teaches the
Wyckoff Method, trades, and creates blogs and videos
at Stockcharts.com. He is currently a commentator on
the Wyckoff Method for Stockcharts.com and co-hosts
a weekly Wyckoff webinar at Wyckoff Analytics. Bruce
is past-president and current chair of the Technical
Securities Analysts Association of San Francisco (tsaasf.
org), which is the oldest technical analysis society in the
United States.
Weaving the Market Tapestry
Eoin Treacy | CEO Global Strategy
Service, FullerTreacyMoney.com
Capital is both global and mobile. It
flows to the most attractive assets.
More than ever, it is essential to takea global perspective to assess where
both risks and opportunities can be found. That’s wherecharts come into their own. They allow us to act as judges
at an international beauty contest, where only the most
attractive patterns pique our interest. Join Eoin Treacy as
he weaves a path through global markets and arrives atthe conclusion as to which are the best to invest in andwhich are best to avoid.
E o i n i s C E O o f t h e G l o b a l S t r a te g y S e r v i ce,
FullerTreacymoney.com. The service includes the longest

IFTAUPDATE 2021 Volume 28 Issue 3

page 142021 Conference: Speakers continued
running financial markets podcast in the world (started in2004); the longest running seminar on behavioural trading, now in its 52nd year; and a truly global chart library.
He is also a director of the Nevada Trust Company, aninvestment director for Southbank Investment, and an editor at Legacy Research. His book Crowd Money was nominated for technical book of the year in 2013. Eoin helps
manage the EF WM Global Corporate Autonomies Fundin the UK, which is based on the ideas contained in thebook. He also provides consultancy for family offices andinstitutional investors. Eoin has appeared on Bloomberg
TV, CNBC, NDTV, and the BBC World Service and has
been quoted in the Wall Street Journal.
Combining Technical and Macro
Analysis With Options Intelligence
Scott Fullman | Chief Investment
Strategist & Portfolio Manager, Revere
Securities LLC.
Scott H. Fullman, CMT, is the founderof the Increasing Alpha® research platform, which utilizes a combination of technical and macro
analysis as well as options intelligence. In addition to hisrole as chief investment strategist at Revere Securities
LLC, he is a portfolio manager for separately managed
accounts as well as the Revere Sector Opportunity ETF(RSPY) at Revere Wealth Management LLC. Additionally,
Scott is the branch manager of the firm's New York headquarters and has been the acting chief operating officer.
Scott is also the president and CEO of Fullman
Technologies, Inc., serves on the board of directors of theAmerican Association of Professional Technical Analysts,
and is a past president of that organization. During his
career, Scott has written two books and countless articles
and has given many interviews to the financial press. He
was an instructor at the New York Institute of Financeand an adjunct professor at Seton Hall University. He
has also served a number of industry committees andhas originated or assisted in the development of new
products, including the Hapoalim American Israeli Index,
Equity Flex Options, and the SPDR S&P 500 ETF. Scott isa member of the CMT Association and the Hedge Fund
Association.

Saturday, 9 October 2021
What Works and What Doesn't Workin Real-Time Trading
Larry Williams | Market Technician,Private Trader, Author, Teacher – www.
ireallytrade.com
In this presentation, Larry Williams willteach what his almost 60 years of trading and market research have proven can help us makemoney and what won’t. There are many claims about lotsof indicators and trading approaches that just don't work.
He'll show us what doesn’t work and also what he personally uses to trade, what his thoughts are about trading,and techniques that he hopes you can use to become amore profitable trader, as well as lessons learned fromyears of system development.
Many have called him "Legendary Larry." Jim Cramer, on
Mad Money, simply called him "the world's best technician." Regardless of what you call him, Larry has yearsof success behind him in real-time trading and winning
trading championships as well as having his students
win trading championships. He is more than a trader; heis a teacher, a developer of abilities … someone you canlearn a lot from. Larry’s experiences are real-time, notacademic. And that real-time trading experience includes
the ups and downs, which Larry will also discuss.

Using RRG® to See the BIG Picture in
ONE Picture
Julius de Kempenaer | Direc tor/
Owner of RRG Research, Senior
Analys t at Stockchar t s.com –www.RelativeRotationGraphs.com
Julius de Kempenaer is the creator of
Relative Rotation Graphs® (RRGs). He is the founderof RRG Research and serves as a senior analyst for
Stockcharts.com. This presentation will show you how
to use RRGs to build a big picture view in a top-down
fashion—starting at asset class level and working down
the investment pyramid all the way to individual stocks.
Julius provides a short refresher on RRGs. What they are
and how they should be read will be part of the presentation, but the focus will be on the application and use of
the tool to build a coherent view on markets.
After graduating from the Dutch Royal Military Academy
and a career as an officer in the Dutch Air Force, Julius
worked as a quant/technical analyst on both the buy- andthe sell-side for companies like Robeco, Rabobank, andKempen & Co. in Amsterdam. RRGs came to life while hewas working as a sell-side analyst looking to present the"BIG picture in ONE picture" to professional fund managers. The implementation of RRGs by Bloomberg in 2011
marked the start of RRG Research, which licenses theuse of RRGs to third parties and provides research andconsultancy based on this tool and the broader conceptof relative strength. RRG implementations are available
on Bloomberg, Refinitiv Eikon, Optuma, and Stockcharts.
com, among others.

IFTAUPDATE 2021 Volume 28 Issue 3

page 152021 Conference: Speakers continued
Regression Analysis to Determine
Best Use of Technical Analysis Tools
Shinji Okada MFTA | Quick Corp.
Shinji Okada majored in political scienceat Nihon University Graduate School ofLaw, and after graduation started hisbusiness career at Securities Japan Co.
Ltd., Tokyo, where he engaged in the sales of various
securities, e.g., Japanese/U.S. equities, fixed income,and investment trusts, through which he became interested in the practical applications of technical analysis.
As his interest in technical analysis grew, he learned thatso many investors tended to sustain losses, panicking
at various trend turning points. It is this experience thathas drawn him to the research of the regression analysisof trends to find their turning points, making the bestuse of famous technical analysis tools, e.g., Dow Theory,
Elliot Wave Theory, Bollinger Bands. In March 2020, Shinjijoined Quick Corp. and has mainly been engaged in planning and providing new and better information services
to financial institutions while continuing his research ontechnical analysis.
How a Trader Used Welles Wilder's
Tools to Build a Framework for a
Consistent Trading Program and Walk
Away With Performance Stats in the
Top 1% of All Hedge Funds
Linda Raschke | Professional Trader
In honor of Welles Wilder's work, Linda
Raschke will review the three indicators/systems thatmost influenced her work and built the foundation for
her trading program. Welles Wilder is perhaps the biggest figure in the world of modern trading. He actually“digitized” existing technical analysis tools and also developed a large number of new indicators. The Momentum

System, the Volatility System, and the power of Average
True Range and the ADX for highlighting price bar overlap and equilibrium points are as durable and robust as
they were 43 years ago when New Concepts in Technical
Trading Systems was originally published!
Linda is a world-renowned commodities and futurestrader with a top-notch track record spanning three
decades. She has been a full-time professional traderfor over 35 years, and her hedge fund was ranked 17th outof 4,500 for the best five-year performance by Barclay’s
Hedge.
"Eddie's Crayons..."—Current
Analysis and Expectations
Eddie Tofpik | Head of TechnicalAnalysis & Senior Markets Analyst, ADM
Investor Services International Limited
Eddie Tofpik started in the markets in1980 and has worked on trading desks
in Bullion, Energy, Agricultural, Softs, Metals Futures, andOptions. In the late 1980s, he added FX, Equities, andFixed Income to his abilities, and by 1990, he’d managed
desks in all of these. He joined Esprit Brokers (precursor
to ADMISI) in 1991 to develop FX business and started the
24-Hour FX Desk. By 2018, after 27 successful years ashead of FX, he moved over to a new role as head of technical analysis and senior markets analyst. ADM Investor
Services International Limited (ADMISI) is a full-service
brokerage company with a 100+ year history in London
and international markets. ADMISI is a wholly owned
subsidiary of Archer Daniels Midland (UK) Limited andindirectly a wholly owned subsidiary of Archer Daniels
Midland Company of the United States.
Eddie is a director of the Society of Technical Analysts
in the UK. He’s also a member of ACI-UK (the FX dealers

association) and an associate member of the CISI. Eddie
publishes “Eddie’s Crayons…”—technical analysis reviewsof FX and commodity futures markets. He regularly
speaks at conferences and on TV and radio.
Strategic Options Use in the Portfolio
Larry McMillan | President, McMillan
Analysis Corporation
Professional trader Larry McMillan isperhaps best known as the author of
Options as a Strategic Investment, thebest-selling work on stock and index
options strategies, which has sold over 300,000 copies. An active trader of his own account, he also manages option-oriented accounts for certain individuals. In
a research capacity, he edits and contributes to his firm’s
publications: Daily Volume Alerts, The Option Strategist,
and The Daily Strategist—derivative product newsletters
covering equity, index, and futures options. Finally, hespeaks on option strategies at many seminars and colloquia in the United States, Canada, and Europe.
Larry is often seen on CNBC and Bloomberg TV and isquoted in publications such as The Wall Street Journal,
Barron’s, Technical Analysis of Stocks and Commodities,
Data Broadcasting’s Exchange magazine, Futures
Magazine, theStreet.com, Active Trader magazine, andmany others. In 2011, Larry received the prestigious
Sullivan Award in recognition of his outstanding contributions to the growth and integrity of the U.S. options
markets.
Prior to founding McMillan Analysis Corporation, Larry
was a proprietary trader at two major brokerage firms—
primarily Thomson McKinnon Securities, where he ran
the Equity Arbitrage Department for nine years.

IFTAUPDATE 2021 Volume 28 Issue 3

page 162021 Conference: Speakers continued
Providing Tactical Asset Allocation
Advice in an Institutional Framework
Robert Schott, CMT | Master's Degree
I ns t ruc tor, I nves t ment s & Risk |University of Connecticut
An expert in global markets, investment,
risk, and asset allocation, Robert Schottserved as one of General Electric Asset Management’s
portfolio managers for tactical asset allocation. In thissenior role, he managed asset allocation across theinvestment classes and markets for pension and balanced funds. He provided tactical asset allocation advice
to clients and enhanced portfolio performance throughoverlays, hedges, manager selection, and alternative
investments. An expert in equities, fixed income, credit,
forex, global investment, and derivatives, he has extensive defined benefit, defined contribution, mutual fundmanagement, investment, and ALM experience. An expert
in derivatives, Robert has more than 35 years of financial
market experience. He most recently served as a consultant to GECC on both country and market risks.

Previously, Robert was director of capital markets,
Landesbank Baden Wuertemberg; director of derivatives, foreign fixed income, and foreign exchange at TIAACREF; and the senior investment officer of Oppenheim
International Finance, Dublin. In 1976, he earned his B.A.
in economics from the University of Notre Dame, and in
1985, he graduated from New York University with a MBA
in finance. Robert is a Chartered Market Technician andmarket historian.

IFTAUPDATE 2021 Volume 28 Issue 3

page 172021 Conference: Schedule
Friday, 8 October 2021 (U.S. Eastern TimeZone)

7:00 pm

Bruce Fraser | Business Cycle Analysis
and the Wyckoff Method

10:30 am

Larry McMillan | Strategic Options Use in
the Portfolio

1st Session

5:00 am–10:30 am

8:00 pm

BREAK

11:30 am

2nd Session

5:00 pm–11:00 pm

8:30 pm

5:00 am

Opening Remarks

Scott Fullman | Combining Technical andMacro Analysis With Options Intelligence

Larry Williams | What Works and What
Doesn't Work in Real-Time Trading

12:30 pm

LUNCH | Sponsor Presentations

5:30 amWieland Arlt | Break the Cycle of Greedand Fear When Investing in Today'sMarkets

9:30 pm

Eoin Treacy | Weaving the Market Tapestry

1:30 pm

10:30 pm

Session Closing Remarks

6:30 amDaryl Guppy | Declutter the Trade Toolbox
to Improve Trade Performance

Linda Raschke | How a Trader Used Welles
Wilder's Tools to Build a Framework fora Consistent Trading Program and Walk
Away With Performance Stats in the Top
1% of All Hedge Funds

2:30 pm

Prof. Robert Schott | Providing Tactical
Asset Allocation Advice in an Institutional
Framework

3:30 pm

BREAK

4:00 pm

Julius de Kempenaer | Using RRG® to See
the BIG Picture in ONE Picture

5:00 pm

Closing Remarks

7:30 am

BREAK

8:00 amJohn Bollinger | Bollinger Bands 2021

9:00 amConnie Brown | STOCHASTICS TRADE
ROOM REVEAL! 80+ Original S&P 500
Intraday Charts Annotated by George
Lane

10:00 am

Session Closing Remarks

Saturday, 9 October 2021 (All Times in U.S.
Eastern Time)
1st Session 			7:30 am–12:30 pm
LUNCH/
SponsorPresentations 12:30 pm
2nd Session

1:30 pm–5:30 pm

7:30 am

Opening Remarks

8:00 am

Shinji Okada | Regression Analysis to
Determine Best Use of Technical Analysis
Tools

MIDDAY BREAK
5:00 pm

Tony Dwyer | KEYNOTE—After a Summerof Indigestion, Year-End Opportunities

9:00 amEddie Tofpik | "Eddie's Crayons..."—Current
Analysis and Expectations

6:30 pm

Platinum Sponsor Presentation

10:00 amBREAKIFTAUPDATE 2021 Volume 28 Issue 3

page 18

Congratulations New CFTes!

MFTA and CFTe Exam Dates

Yash Sunil Agrawal
Khairil Izwan Ahmad Arshad (STA)
Jeevan Teja Araveti
Hitesh Arora
Sarthak Bidani
Faizul Izwan Bin Jamaluddin (STA)
Sam Richard Burns (STA)
Alexis Charveriat
Mattia Cunti
Taher Mahmoud El Khateeb
Yves Gagnon
Aditya Gupta
Moheb Hanna
Omodele Olawale Larinde (STA)
Hui Long Lau

Certified Financial Technician (CFTe)—Level I

Michael Lavdiotis
Philipp Markopulos
Giancarlo Romano Mateo Leuterio
Matthias Neubrand
Catalin Nicolae (STA)
Cheeranjeevi Panwar
Gustavo Eliecer Pernalete Torrealba
Sagar Peswani
Michail Platamonas
Martin Rea (STA)
Akshat Rohatgi
Abdul Rahman Terkawi Notivoli
Shashank Shekhar Tripathi
Yashoda Vyas

Date

Offered Year-roundSee our website for further instructions www.ifta.org/certifications/registration/
Syllabus and Study Guide www.ifta.org/public/files/publication-downloads/IFTA_CFTe_Syllabus.pdf

Certified Financial Technician (CFTe)—Level II

Exam dates

Registration deadline

2021

2022

21 Oct 2021

TBA Apr 2022

ClosedTBA Mar 2022

Register at https://ifta.org/application-forms/cfte-ii-application/
Syllabus and Study Guide www.ifta.org/public/files/publication-downloads/IFTA_CFTe_Syllabus.pdf
For more information on the CFTe program, visit www.ifta.org/certifications.

Master of Financial Technical Analysis (MFTA)

Alternative Path Pre-Application Deadline

2021

2022

Closed28 Feb 2022

Application/Outline Deadline

2 Oct 2021

2 May 2022

Paper Deadline

15 Mar 2022

15 Oct 2022

(Session 1) Register at https://ifta.org/application-forms/mfta-application-session1/(Session 2) Register at https://ifta.org/application-forms/mfta-application-session-2/

IFTAUPDATE 2021 Volume 28 Issue 3

page 19

Congratulations New MFTAs
Shinji OKADA, CMTA, CFTe, MFTA

MFTA Research Paper Title: Observation of Yield
Point of Trends
Shinji Okada majored in political scienceat Nihon University Graduate School of
Law and after graduation, started his business career at Securities Japan Co. Ltd.,Tokyo, where he engaged in the sales ofvarious securities (e.g., Japanese/U.S.
equities, fixed income and investment
trusts), through which he became interested in the practical applications of technical analysis. As
his interest in technical analysis grew, he learned that somany investors tended to sustain losses panicking at various trend turning points. It is this experience that has
drawn him to the research of the regression analysis oftrends to find their turning points, making the best use of
famous technical analysis tools (e.g., Dow Theory, Elliot
Wave Theory, Bollinger Bands). In March 2020, he joined
Quick Corp. and has mainly been engaged in planning andproviding new and better information services to financial
institutions while continuing his research in technicalanalysis.

Christoph Wildensee, Ph.D., MFTA

MFTA Research Paper Title: Intraday-TradeOptimization Via Fibonacci-DLL
Christoph Wildensee has a Ph.D. in business administration. He is a well-known
auditor and data/process analyst at enerc i t y AG i n H a n n o v e r, G e r m a n y.
Christoph’s special focus is on finding
errors and optimization potential in IT
systems relevant to accounting, including, in particular, the Energy Trade andRisk Management (ETRM) system, which is used to handle
all energy trading activities at enercity. He was also amember of the team evaluating the new Pioneer/HitachiABB ETRM system.

Ken Yew Chan, DipTA, MFTA

MFTA Research Paper Title: Quasi A.I. Trading
Strategy
Holding a master of finance from RMIT
University, Australia, Ken Yew Chan iscurrently the head of Quant and A.I.
Trading Solutions of Kenanga Investment
Bank Bhd (KIBB). He has also obtained
a bachelor of property managementfrom the University of Malaya, Malaysia,
and two separate diploma qualifications:diploma in investment analysis and diploma in technicalanalysis with RMIT University and Securities Institute ofAustralia, respectively, during his undergraduate
studies.
Being the head of Quant and A.I. Trading Solutions, Ken
is the chief trading and investment strategist and tasked
to develop and integrate an algorithm trading platform
for KIBB. Prior to his current work, he was the head ofresearch at KIBB, managing KIBB’s equity research team
as well as analyzing the overall equity market direction
and macro-economic condition. He was also previously
the head of research of MIMB Investment Bank, vice president at OSK Ventures International Bhd, a senior analyst
at OSK Research, and a research analyst in a few local
brokerage houses.
In more than 15 years in the equity market, he received ahandful of awards. In 2009, Financial Times and Starmineranked him as one of the Top 3 Banking Analysts in PanAsia. During the same year, he was also ranked one of
the Top 10 Overall Stock Pickers in Asia. In 2008, he
was ranked third in The Edge-Starmine’s Industry Stock
Pickers Award for the financial industry in Malaysia.
In 2005, he was ranked third in the Business Times(Singapore) Starmine’s Industry Earnings Estimators
Award for the Singapore/Malaysia region. He was rated as
the Second-Best Property Analyst by The Edge Malaysia
in 2004.

IFTAUPDATE 2021 Volume 28 Issue 3

page 20

Calendar-at-a-Glance
Date

Host

Speaker

Location

Time

ContactMonthly Presentations from local and international speakers on a comprehensive range of
topics (e.g., sharemarket, CFDs, options, futures, FOREX trading, methodologies,
money management, psychology).

Topic

STANZ

VariesVaries, or online

Varieshttps://stanz.co.nz/

Monthly Monthly Meetings are held monthly in nine cities across Australia. All monthly
meetings are free to members. Visitors are welcome to attend. Bookings are
not required. Visitors are welcome, first visit free.

ATAA

VariesVaries, or online

Varieshttps://ataa.asn.au/

Monthly Monthly Meetings & Events: The STA holds monthly meetings in London, usuallyon the second Tuesday of every month, except for a summer break in August.

STA"STA Varies One Moorgate
Place, Chartered
Accountants Hall, 1 Moorgate
Place,
London""Online or
One Moorgate Place,
Chartered Accountants Hall,
1 Moorgate Place
London "Varieshttps://www.technicalanalysts.com/
meetings/

NA

NA

NA

admin@ifta.org; https://ifta.org/

2021
Oct

Nov

2

Master of Financial Technical Analysis (MFTA), Alternative Path, Session IFTA
2 application deadline

7

IFTA 2021 Virtual Annual General Meeting (AGM)

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

8–9

IFTA 2021 Virtual Annual Conference–Hosted by AAPTA (USA)

IFTA/
AAPTA

VariesOnlineTBA

admin@ifta.org; https://ifta.org/

12Monthly Meeting–Applying Macro Fundamentals to Short-Term Trading STA (UK)

Anthony Cheung, Director& Head of Market Analysis,
Amplify Trading

One Moorgate Place, Chartered
Accountants Hall, 1 Moregate Pl, London

6:30 PMhttps://www.technicalanalysts.com/
meetings/

15

Master of Financial Technical Analysis (MFTA), Session 1 paper deadline IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

21

Certified Financial Technician (CFTe) Level II Examination

IFTA

NA

Varies or online

TBA

21

STA Diploma, Part 2 Exam

STA (UK)

NA

OnlineTBA

https://www.technicalanalysts.com/
education/examinations/

23

ATAA (Australia) Virtual Conference 2021–Elevate Your Performance to ATAA
the Next Level

Varies

VirtualVarieshttps://ataa.asn.au/events/ataa-2021virtual

1

IFTA 2022 Journal Web publication

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/
publicatons/journal/

9Monthly Meeting

STA (UK)TBA

One Moorgate Place, Chartered
Accountants Hall, 1 Moregate Pl, London

6:30 PMhttps://www.technicalanalysts.com/
meetings/

15

IFTA Update submission deadline for all news content (mid-December
release)

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

Continued on page 29

IFTAUPDATE 2021 Volume 28 Issue 3

page 21

Calendar continued
Dec

6

STA Diploma, Part 1 Exam

STA (UK)

NA

OnlineTBA

https://www.technicalanalysts.com/
education/examinations/

14

Monthly Meeting

STA (UK)TBA

One Moorgate Place, Chartered
Accountants Hall, 1 Moregate Pl, London

6:30 PMhttps://www.technicalanalysts.com/
meetings/

2022
Jan
Feb

No events scheduled at this time
15

IFTA Update submission deadline for all news content (mid-March
release)

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

28

Master of Financial Technical Analysis (MFTA), Alternative Path, Session IFTA
1 application deadline

NA

NA

NA

admin@ifta.org; https://ifta.org/

Mar

15

Master of Financial Technical Analysis (MFTA),
Session 2 paper deadline

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

April

TBA

Certified Financial Technician (CFTe) Level II Examination

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

TBA

STA (UK) Diploma, Part 2

STA (UK)

NA

OnlineAll day

https://www.technicalanalysts.com/
meetings/

1

Certified Financial Technician (CFTe) Level II - registration opens for
October examination through IFTA website.

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

2

Master of Financial Technical Analysis (MFTA) Session 1 application,
outline and fees deadline

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

15

IFTA Update submission deadline for all news content (mid-June
release)

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

IFTA Journal Call for Paper submission deadline

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

May

31
Jun

No events scheduled at this time

Jul

31

Master of Financial Technical Analysis (MFTA) Alternative Path,
Session 2 application deadline

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

Aug

15

IFTA Update submission deadline for all news content (mid-September
release)

IFTA

NA

NA

NA

admin@ifta.org; https://ifta.org/

Balance professional development and yourpersonal life with the STA Home Study Course©
WHAT WILL IT COVER?

WHY PURCHASE THE HOME STUDY COURSE?
The world-class e-learning Home Study Course (HSC)© iswritten by leading industry practitioners, making it one of
the best online products available on the technical analysis
market. Whether this is your first introduction to technicalanalysis, you want to refresh your existing knowledge, or you
wish to become a qualified technical analyst, the STA offersa tailored Home Study Course as part of our portfolio of worldrespected courses preparing students for our internationallyaccredited STA Diploma qualification.
You can learn from the comfort of your home at times thatbest suit you. Although website based, it is fully downloadable
and may be used online or offline via PC, Mac, iPad or Android
machines.

•

The syllabi for both STA Diploma Part
1 & Part 2 examinations•

15 in-depth subject teaching units•

Exercises to self-test progress•
Exam preparation module & video
Since the HSC is International
Federation of Technical Analysts•
Adviceon report
writing.
out(IFTA) syllabus compliant
it canalso beused...find
to prepare
more
here
candidates for both the IFTA CFTe I and II examinations.
Since the HSC is International Federationof Technical Analysts (IFTA) syllabus
compliant
WHO IS THE COURSE
FOR? it can also be used to prepare
candidates for both the IFTA CFTe I and II
examinations.
The course is intended
for individuals who want to use

technical analysis in
a professional manner or who want
WHO IS THE COURSE FOR?
to become a qualified technical analyst and advance their
The course is intended for individuals
now!
career. Enroll and start
whostudying
want to use
technical analysis in
a professional manner or who want tobecomequalifiedthe
technical
analystFor more details click
here ora contact
STA office
on andadvancetheircareer.
Enrollandstart+44 (0) 207 125 0038 or info@technicalanalysts.com

studying now!
Balance professional development and yourFor more details click here or contact the©
personal life with the STA Home Study CourseWHEN
on +44 (0) 207 125 0038 or
WOULD YOU STA
LIKEoffice
TO START?
info@technicalanalysts.com

WHY PURCHASE
THE
HOME
STUDY
COURSE?
WHAT
WILL
IT
COVER?
WHY
PURCHASETHEHOMESTUDY COURSE?

Learn at your own pace rather than in a classroom - the HSC

Since the HSC is International Federation of Technical Analysts
WHEN
YOU
LIKE part-time
TO START?
designed for
thoseWOULD
who needa truly
study(IFTA) syllabus compliant it can also becourse
used to isprepare©
The world-class e-learning Home Study Course (HSC) is
The world-classe-learning
Home
Study
Course(HSC)©
iswrittenbyleading
industry
practitioners,
Learn
at
your
own
pace
ratherthaninacandidates for both the IFTA CFTe I and II examinations.
option with maximum flexibility!
Theindustry
syllabipractitioners,
for both STA
Diplomawritten by•leading
makingit one of Part 1 & Part 2
makingit oneof theavailable
best online
products
available on the technical analysis market. Whether this- the HSC course is designed
the best online
productson the technicalanalysis
Buy now: £1,195.00classroom
ismarket.
your Whether
firstexaminations
introduction
tointroduction
technical toanalysis,for those who need a truly part-time study
this is your first
technical you want to refresh your existing knowledge, or you
WHO IS THE COURSE FOR?
• want15 in-depth
subjectteaching
wish
toyou
becomea qualified
technical
analyst,option with maximum flexibility!
analysis,to refresh
yourexisting
knowledge,
orunits
you the STA offers a tailored Home Study Course as partwish
to becomea qualified
technical
analyst,the
STA offers
course is forintendedfor individuals whoaccredited
want to useofourportfolio
of world
respected
courses
preparingThe
students
our internationally• Exercises
to self-test
progress
Buy now: £1,195.00
a tailored
Home Study
Course as part of our portfolio of worldtechnical analysis in a professional manner or who want
STA
Diplomaqualification.
•
Exam
preparation
module&video
respected courses preparing students for our internationallyto become a qualified technical analyst and advance their
Advicewriting.
accredited
STA
Diplomaqualification.
start
studying
now! website based, itYou
can•learn
fromonthereport
comfortof your home at timescareer.
thatEnroll
bestandsuit
you.
Althoughis fully downloadable
and may
be used online or offline via PC, Mac, iPad or Android machines.
...find out morehere
You can learn from the comfort of your home at times thatbest suit you. Although website based, it is fully downloadable
and may be used online or offline via PC, Mac, iPad or Android
machines.

For more details click here or contact the STA office on+44 (0) 207 125 0038 or info@technicalanalysts.com

Don’t Get Caught Inside
When You Can Be
Hanging Five
OK, so truth be told, we had a fairly heated discussion at Elliott
Wave International over the direction of this ad. Do we gostraight serious, like just about every other ad? Or do we show
our playful side, in the hope that you won’t just skip past it likeall those other ads?
Because on the one hand, the Certified Elliott Wave Analyst(CEWA) designation is dead serious. The CEWA program is
the standard for Elliott wave analysts. But at the same time, theWave Principle is gnarly, dude – why surf the chop with the
kooks when you could be rippin' the best waves with the locals.
And so, in an exclusive arrangement with our buds at IFTA,
EWI now offers the Certified Elliott Wave Analyst (CEWA)
designation for the coolest dudes: Elliott wave pros, analysts
and traders.
Your CEWA designation lets everyone know that you're alegend in the practical application of the Elliott Wave Principle,
one of the most recognized forms of technical analysis. With
CEWA you can finally paddle out away from the crowds andfind some open water where you can shoot the curl.
Show your CEWA designation to potential employers andprospective clients, so they know YOU know where the bombs-- and the grey fins -- lurk.

Get Started. Visit www.elliottwave.com/wave/GetCertified“Is it just me, or has Wilson gained someconfidence since he became a CEWA?”IFTAUPDATE 2021 Volume 28 Issue 3

page 24IFTA Member Societies

Board of Directors

EGYPT—ESTA Egyptian Society of Technical Analysts www.estaegypt.org

President Wieland Arlt, CFTe (VTAD)
wieland.arlt@ifta.org

AUSTRALIA—ATAA Australian Technical Analysts Association www.ataa.asn.au
FRANCE—AFATE Association Française des Analystes Techniques www.afate.com
GERMANY—VTAD Vereinigung der Technischer Analysten Deutschlands e.V. www.vtad.de
HONG KONG—FTAA Financial Technical Analysts Association www.ftaa.org.hk
INDIA—ATA Association of Technical Analysts www.tataindia.org
INDONESIA—AATI Asosiasi Analis Teknikal Indonesia www.aati.my.id
ITALY—SIAT Società Italiana di Analisi Tecnica www.siat.org
JAPAN—NTAA Nippon Technical Analysts Association www.ntaa.org.jp
LEBANON—LSTA Lebanese Society of Technical Analysts www.lstalebanon.com
MALAYSIA—MATA Malaysia Malaysian Association of Technical Analysts www.malaysianchartist.com
NEW ZEALAND—STANZ Society of Technical Analysts of New Zealand www.stanz.co.nz
PHILIPPINES–STAP* Society of Technical Analysts Philippines www.technicalanalysts.org
SCANDINAVIA—STAF Skandinaviens Tekniska Analytikers Förening www.staf.nu
SINGAPORE—TASS Technical Analysts Society (Singapore) www.tass.org.sg
SOUTH AFRICA—TASSA Technical Analysts Society of Southern Africa www.tassa.org.za
SPAIN—IEATEC Instituto Español de Analistsas Técnicos y Cuantitativos www.ieatec.es
SWITZERLAND—SAMT Swiss Association of Market Technicians www.samt-org.ch
UNITED KINGDOM—STA Society of Technical Analysts Ltd. www.sta-uk.org
USA—TSAASF Technical Securities Analysts Association www.tsaasf.org
USA—AAPTA American Association of Professional Technical Analysts www.aapta.com*Developing Society

IFTA Update Schedule

The IFTA Update is the quarterly electronic newsletter of the International Federation of TechnicalAnalysts, reaching more than 7,000+ IFTA colleagues worldwide. The Update is an efficient and costeffective way to communicate with IFTA’s member societies and colleagues.

PUBLICATION SCHEDULE
December Issue

All content due November 15

March Issue

All content due February 15

June Issue

All content due May 15

September Issue

All content due August 15

Send Education Lounge article submissions to newsletter@ifta.org. Send all other content to admin@ifta.org.
For more information and to advertise, visit our website: www.ifta.org/publications/newsletter/.

Treasurer and Website Director Karin Roller, CFTe (VTAD)
karin.roller@vtad.de
Secretary and Membership Director Alek Jankowski, BE, M.Eng.Sc., Grad.Dip.Mgt. (ATAA)
Alek.Jankowski@ATAA.asn.au
Vice President Middle East and Africa and Immediate Past President Mohamed El Saiid, MFTA, CFTe (ESTA)
mohamed.elsaiid@ifta.org
Vice President Europe Clive Lambert, MSTA, CFTe (STA)
clive@futurestechs.co.uk
Vice President Asia-Pacific Hiwon Yoon, Ph.D., CMTA (NTAA)
yoon@cmdlab.co.jp
Vice President The Americas and 2021 Conference Chair Jeanette Young, CFP®, CMT, M.S. (AAPTA)
optnqueen@aol.com
Education Director Saleh Nasser, CFTe, CMT (ESTA)
saleh.nasser@ifta.org
Examination Director Gregor Bauer, Ph.D., CFTe, (VTAD)
gregor.bauer@vtad.de
Development Director Ron William, MSTA, CFTe, CMT (SAMT)
ron.william@ifta.org
Director Francesco Caruso, MFTA (SIAT)
info@cicliemercati.it
Director Nik Ihsan Raja Abdullah, MSTA, CFTe (MATA)
nmihsan@gmail.com
Director Giovanni Trombetta, CFTA, Electronic Engineer (SIAT)
giovanni.trombetta@gandalfproject.com
Director Yukitoshi Higashino, MFTA (NTAA)
higashino3z@gmail.com

Staff

Executive Director Kristen LeBlanc, MPA, CAE
Senior Vice President, Meetings Grace L. Jan, CAE, CMP
Senior Member Services Manager Linda Bernetich, CAE
Senior Marketing Director Julie Hill
Production Manager Maryia Alenchyk
Managing Editor Lynne Agoston
Director of Accounting Services Dawn Rosenfeld

IFTA HEADQUARTERS
International Federation of Technical Analysts
1300 Piccard Drive, Suite LL 14
Rockville, MD 20850 USA

Phone: +1 240-404-6508
Fax: +1 301-990-9771
Email: admin@ifta.org