My technical analysis forex

my technical analysis forex

done with the School of Pipsology, you too will be just as uhmmm smart. Well, thats basically what technical analysis is all about! The application of technical analysis knowledge with sound forex money management leads to success. On the other hand, technical analysts believe that all that fundamental data is already factored into price by the market forces of supply and demand therefore why attempt to decipher the multitude of data that a fundamentalist will look at?

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Remember, there is no magical combination of technical indicators that will unlock some sort of secret trading strategy. Theres one important thing (pure) technical analysts believe in and this is it: that price movements are the result of supply and demand forces in the market for any given currency pair. . In the context of Forex fundamental analysis, financial statements (broadly speaking) are such fundamental data like: interest rates, employment/unemployment rates, Gross Domestic Product, Trade Balance etc, theres more to fundamental analysis than those factors listed above. They also believe that patterns repeat themselves and the much of the information that can affect price is already known. This time can be 1 minute, 15 minutes, 30 minutes, 1 hour, 4 hour, daily, weekly or monthly price data if you intend to use MT4 Trading Platform. Read Top 9 Best Forex Price Action Trading Websites On The Planet So for a technical analysts perspective, it is best to concentrate on what and never mind the why and if the price goes up, the technical analysts knows that the answer is really one. The information shown in a bar chart is exactly the same as a candlestick chart: open price closing price high price low price The only thing here is that the bar chart does not have a body its just like a stick. . Resistance Level resistance levels are opposites of support levels and by definition, resistance levels are price levels where price goes up, hits it and moves back down. Now we know youre thinking to yourself, Geez, these guys are smart. Because you are basing your trading decisions (to buy or sell) on the technical analysis you have done. For a technical analyst, trying to ask and then answer the why question brings a lot of possible answers and some of those answers cannot be quantified and also on the same token, they can be too broad.

What is the point of knowing everything but being a master of none? For example, most traders will admit that there are no certainties when it comes to predicting exact price movements. What Technical Analysis Indicators Are Used In Technical Analysis?

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