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Thread: What is technical analysis for making trading decisions in the Forex market?

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    Default What is technical analysis for making trading decisions in the Forex market?

    In Forex market decisions are taken on the basis of technical and fundamental grounds. Can you please explain the importance of technical analysis and its importance in decision making process?

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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    Detailed View About the Forex technical analysis

    Forex technical analysis is a method of using graphs to analyze past price movements and to predict future price movements. Use tools such as indicators to find the average value, the deviation value, the deviation rate from this value, the price behavior patterns that have occurred in the past several times, and the psychologically conscious price range using the Fibonacci sequence. Is there a way to discover or analyze from different angles?


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    However, you don't have to hold it strangely

    These tools are great now, and you don't have to remember them all. If you choose one or two different analytical methods and delve into them, you should become a trader who can win in foreign exchange trading.
    In addition, in technical analysis, many people line up on a few graphical screens and imagine something like "C!". There is no such thing, if it is a regular day trading, you can fully demonstrate the power of technical analysis, and you can use a smartphone to trade!
    So don't worry, even if you think "I never had a computer," you should be able to master it.

    Technical analysis and fundamentals analysis

    Try Forex indicators in MT4 with $1000 No Deposit Bonus now!

    Technical analysis is an analysis method paired with Forex fundamental analysis, which analyzes the value of the currency from economic growth, interest rates, political risks, disasters, wars, etc.
    So, for those who want to invest from financial knowledge, this technical analysis training ground may not be beneficial. On the contrary, even if you do not have financial knowledge, it is quite possible to earn Forex profit only with charts.
    In addition, the long-term market flow over several years strongly includes fundamental factors such as interest rates and economic conditions, so for swap traders and ultra-long-term swing traders, technical is not good. It may not be necessary, so much so. Do you think that the best match here is for day traders, short-term swing traders, and scalpers?
    By now, you should have understood what kind of person this "Technical Analysis / Strengthening Training Center" is suitable for, so the training will start in earnest from now on!!!

    Step 1. Explanation of essential knowledge and method of technical analysis

    Charles Dows theory, which is familiar to the NY Dow Jones Industrial Average, is the theory that the supply and demand (want to sell/buy) that arises from everything, including economic changes and disasters, appears in the price movements of the chart. Technical analysis that analyzes the price movement of the chart and predicts the future is. Yes! It is the strongest.

    Step 2. Identify trends and ranges

    In Step 2, you will learn how to use the indicator to determine the market's direction, whether it is easy to buy (easy to go up), easy to sell (easy to go down), or whether it is likely to level off. There are many types of indicators, and I think there are more than 100, including minor ones. We can use multiple technical indicators while evaluating the market conditions based on historical data. These technical indicators can help us to be successful traders.

    MACD

    See also: Wide range of InstaForex technical indicators.

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    Stochastic oscillators


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    Step 3. Determine the points to buy/sell from the technical analysis!

    In Step 3, we will go further from the direction of the market and pull out "points with the high expected value to win" from technical analysis, that is, points to enter in actual trading? Even if you can analyze the direction, there will be a considerable difference in profit and loss depending on your trade point!

    Step 4. The concept of "multi-time" gives depth to the chart.

    Here, let's acquire a multidimensional and more accurate technical analysis by adding a time axis to Step 2 market direction and Step 3 trading points. Also, would you like to see a case where the movement of the chart is particular? It will be an advanced version to be a little difficult, but it is indispensable to keep winning in Forex. We can use multiple charts to have a better spectrum and the correct information required for decision-making in the Forex market.

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    Monthly Chart
    Weekly Chart
    Daily Chart
    Hourly Chart

    Conclusion:

    If you have read the articles so far, you can say that you have a solid foundation for technical analysis! However, Forex trading is not something that we can do by knowledge alone. Let's challenge practical trading because it is suitable even for a small amount so that you can make full use of the acquired knowledge in actual trading. If you are meticulous, how should you accumulate experience points in real trading?

    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.


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