- How the 23 Content Areas Are Built
- Level I Core Readings (Areas 1-6)
- Level I Appendices (Areas 7-10)
- Level II Core Readings (Areas 11-21)
- Level II Appendices (Areas 22-23)
- How the Two Exams Test This Material
- Sequencing the 23 Areas Across Your Prep
- Fees, Dates and Logistics That Shape Your Plan
- Frequently Asked Questions
- The 23 areas are editorial reading groups from the IFTA syllabus (updated May 7, 2026), not official weighted exam domains.
- Level I covers 10 groups: six core readings plus four appendices; Level II covers 13 groups.
- Level I is 120 four-option multiple-choice questions in 2 hours 30 minutes at Pearson VUE centers.
- Level II is a Zoom-proctored chart analysis and written report, so practice writing, not just recognizing patterns.
How the 23 Content Areas Are Built
Before you plan anything around "23 domains," you need to understand what that number actually represents. The International Federation of Technical Analysts (IFTA) awards the Certified Financial Technician (CFTe) through two sequential exams, Level I and Level II. IFTA publishes a combined syllabus listing the mandatory readings for both levels, and it does not publish an official weighted domain breakdown the way some other credentials do.
The 23 headings in this guide are an editorial grouping of those mandatory readings from the current syllabus, updated May 7, 2026. They break down as follows:
- Six Level I core readings (books and specified chapters)
- Four Level I required appendices (Appendices A through D)
- Thirteen Level II core readings (eleven books or reading sets plus the ethics and statistics appendices, which we count separately as Areas 22 and 23)
The official syllabus PDF is the authority for chapter-level detail. This guide tells you what each group is, why it matters, and how it likely shows up in an exam. For the broader preparation picture, see our CFTe study guide, and for the credential basics, start with what CFTe certification is.
Level I Core Readings (Areas 1-6)
Level I is the foundation. It is a 120-question, four-option, single-answer multiple-choice exam, so these six readings train you to recognize concepts, definitions and standard technical interpretations quickly and accurately.
Area 1: Technical Analysis of Stock Trends
The classic pattern-recognition text. Expect the vocabulary of price action: trend structure, support and resistance, reversal and continuation formations.
- Learn how patterns are defined, not just what they look like
- Know the conventional interpretation of each formation
- Be ready to distinguish similar patterns by their defining features
Area 2: Technical Analysis of the Financial Markets
A broad, structured survey of the discipline: charting, trend analysis, indicators, oscillators and intermarket thinking. The syllabus specifies which chapters are core.
- Master the indicator families: trend-following versus momentum
- Understand how indicators are calculated and what they claim to measure
- Connect intermarket relationships to market context
Area 3: Technical Analysis Explained
A reading that reinforces core principles from a second angle. Overlap with Areas 1 and 2 is useful: seeing the same idea explained differently is how definitions stick.
- Cross-check terminology against the other Level I texts
- Note where authors define the same concept in slightly different ways
Area 4: Technical Trader's Guide to Computer Analysis of the Futures Market
This reading leans toward indicator mechanics and systematic analysis. Expect questions that reward understanding how an indicator is constructed and how its signals are generated.
- Know formulas and construction logic at a conceptual level
- Understand the strengths and limitations of each tool
Area 5: Candlestick Charting Techniques
Japanese candlestick patterns have a precise vocabulary. Single-candle and multi-candle formations, their context requirements and their reversal or continuation implications are classic multiple-choice material.
- Learn each pattern's defining criteria and required prior trend
- Practice naming patterns from descriptions and descriptions from names
Area 6: The Definitive Guide to Point and Figure
Point and figure charting is a distinct construction method with its own rules: box size, reversal criteria and pattern interpretation. Candidates who skip the mechanics tend to struggle here.
- Practice constructing columns from raw price data
- Learn signal and pattern conventions specific to P&F charts
Level I Required Appendices (Areas 7-10)
The four Level I appendices cover specialized topics that candidates often under-study because they feel "supplementary." They are not optional: the syllabus lists them as required.
Area 7: Elliott Wave Theory (Appendix A)
The Level I introduction to wave counting, impulse and corrective structures, and the rules that govern valid counts.
- Memorize the inviolable wave rules before the guidelines
- Be able to label a simple structure correctly
Area 8: Breadth Indicators (Appendix B)
Market-internals measures that assess participation across many securities, such as advance-decline concepts and related oscillators. Know what each measures and what divergence implies.
Area 9: Time Cycles Analysis (Appendix C and assigned Murphy reading)
Cycle concepts, including periodicity, translation and the principles cycle analysts rely on, plus an assigned reading from Murphy. This is the area where candidates most often have a gap, because cycles rarely feature in day-to-day charting.
Area 10: Point and Figure Techniques (Appendix D)
Additional point and figure methodology that complements Area 6. Study it together with the main P&F text rather than as a standalone topic.
Level II Core Readings (Areas 11-21)
Level II shifts from recognition to application. You work from charts and produce written analysis, so these readings are about using technical methods in a professional, defensible way.
The repeat authors: deeper second passes
Area 11: Technical Analysis of Stock Trends (Level II core reading)
You meet this text again, now expected to apply it. Where Level I asked "what is this pattern," Level II asks "what does it imply here, and how would you act on it?"
Area 12: Technical Analysis Explained (Level II)
Specified core chapters, revisited at a deeper analytical level. Focus on the reasoning behind each method so you can justify a conclusion in writing.
Area 13: Technical Trader's Guide to Computer Analysis of the Futures Market (Level II)
Again the systematic and indicator-focused material, now with different specified chapters. Expect to interpret indicator output on a chart rather than merely define it.
Area 15: The Definitive Guide to Point and Figure (Level II)
More advanced point and figure content than Level I covered. Combine it with your Level I foundation so construction rules are automatic.
The new specialist texts
Area 14: Beyond Candlesticks
Extends Japanese charting beyond the patterns of Level I. Expect more sophisticated chart interpretation techniques.
Area 16: Primer on Ichimoku (Appendix E)
The Ichimoku cloud system has its own components, calculations and signal logic. Know each line and what the cloud conveys about trend and support/resistance.
Area 17: Steidlmayer on Markets
Market Profile and auction-market thinking. This framework (distribution, value, balance and imbalance) is conceptually different from classic chart patterns, so budget extra time to internalize the vocabulary.
Area 18: Elliott Wave Principle
The full treatment of Elliott methodology, beyond Level I's appendix introduction. Labeling, guidelines and alternation concepts matter here.
Area 19: Technical Analysis: The Complete Resource for Financial Markets Technicians
A comprehensive professional reference. Use it to tie the specialist methods together into a coherent analytical framework.
Area 20: Technical Analysis for the Trading Professional
Practitioner-oriented material emphasizing application and trade construction.
Area 21: Street Smarts: High Probability Short Term Strategies
Short-term strategy setups with defined entry logic. A core reading rather than chapter-specified material, so plan to read it in full.
Level II Required Appendices (Areas 22-23)
Area 22: IFTA Ethical and Professional Standards (Appendix F)
Ethical conduct is an examinable part of a professional designation. Expect to apply the standards to scenarios, so know the principles well enough to reason from them, not just recite them.
Area 23: Basic Statistics for Quantitative Analysis (Appendix G)
Statistics fundamentals that support evidence-based technical work. Candidates from purely discretionary backgrounds should schedule extra time here.
How the Two Exams Test This Material
| Feature | Level I | Level II |
|---|---|---|
| Delivery | Pearson VUE test centers (Strasz Assessment Systems coordination) | IFTA-administered Zoom remote examination |
| Format | 120 four-option, single-answer multiple-choice questions | Constructed chart analysis and written report |
| Time | 2 hours 30 minutes | The April 11, 2024 example paper ran 3 hours 30 minutes (historical; not reconfirmed as a 2026 specification) |
| Passing mark | Member societies SAMT and VTAD state 74/120 | The April 11, 2024 example paper listed 65/100 (historical) |
| Scheduling | Year-round | Normally April and October |
Two cautions. First, the Level II details above come from an official example paper, not a verified current-exam specification, so confirm the live format with IFTA before your sitting. Second, the Level I 74/120 figure is stated by two member societies; check your own registration materials for the mark that applies to you. Our CFTe passing score guide goes deeper on this.
Key Takeaway
Level I rewards breadth and precision across all ten reading groups. Level II rewards the ability to produce a structured written analysis under time pressure. Prepare for them as two different skills: recognition first, then articulation.
Sequencing the 23 Areas Across Your Prep
This is the one place where a study schedule makes sense, because the readings have natural dependencies. A candidate working from the syllabus might sequence Level I like this:
Chart foundations
- Areas 1 and 2: pattern vocabulary and indicator families
- Why first: everything else builds on this language
Specialist chart methods
- Areas 5, 6 and 10: candlesticks and point and figure together
- Why together: both are alternative construction methods with their own rules
Indicators and context
- Areas 3, 4 and 8: second-angle reading, computer analysis, breadth
Theory-heavy topics and review
- Areas 7 and 9: Elliott introduction and cycles
- Then timed multiple-choice practice across everything
For Level II, put Areas 22 and 23 (ethics and statistics) early, since they are short and unfamiliar to many practitioners, then work through the specialist texts (Areas 14, 16, 17, 18) before the broad professional references (Areas 19 and 20), and finish with written practice. Pair this with the CFTe cheat sheet for rapid fact review, and note that suggested study periods are guidance only; the issuer lists no mandatory training hours.
To test yourself on Level I-style items as you finish each block, use the CFTe practice tests. Note that the official Level I mock is a 60-item paper dated September 27, 2015, so supplementary question practice is useful for volume and timing.
Fees, Dates and Logistics That Shape Your Plan
The content map only helps if you can actually sit the exams, so lock in the practical details early.
- Level I fee: US$550 for member-society colleagues, US$850 for non-members.
- Level II fee: US$850 member or US$1,150 non-member, plus a US$100 proctor fee, plus US$250 for translation except English and German.
- Two-level base/proctor total: US$1,500 member or US$2,100 non-member, before other costs. See the full CFTe certification cost breakdown.
- Eligibility: no mandatory degree, experience minimum, references or training hours are published for the ordinary route, and membership is optional. Details are in our CFTe requirements guide.
- Level II dates: normally April and October. For October 2026, IFTA's main page lists October 22 while its FAQ lists October 20, both with a September 10 deadline, so verify the date on your individual confirmation. Our CFTe exam dates guide tracks this.
If you are weighing the investment, our ROI analysis and difficulty guide cover the broader decision. For realistic expectations on outcomes, read about the CFTe pass rate: IFTA's FAQ cites a general 60 to 70 percent figure, but it varies by year and is not a 2026 or level-specific cohort rate.
Frequently Asked Questions
No. IFTA publishes mandatory reading assignments, not a weighted domain taxonomy. The 23 headings are an editorial grouping of those readings: six Level I core readings, four Level I appendices and thirteen Level II readings. Chapter-level assignments come from the official syllabus.
That cannot be stated, because no official weighting was verified. Level I also does not disclose its scored/unscored split. Prepare every required reading rather than betting on a presumed heavy area.
Yes. The ordinary CFTe award requires both levels. Level I is a 120-question multiple-choice exam; Level II is a Zoom-proctored chart analysis and written report.
None is published for the ordinary route: no mandatory degree, experience minimum, references or training hours. Membership in IFTA or a member society is optional, though member fees are lower.
The reading groups reflect the IFTA CFTe I and II syllabus updated May 7, 2026. Syllabi can change, so check the issuer's published syllabus before committing to a reading list. For more on the credential itself, see what CFTe is and CFTe jobs.