Technical Analysis: Reading Forex Charts Technical Analysis is perceived to be one of the easiest ways in analysing charts, with the overall objective of predicting currency pairs’ prices upcoming movements. Such a methodology does not require reading the news or fundamentals, as it solely based on graphical and pattern formations. The majority of technical analysts use methodologies such as Candlestick Patterns, Indicators (Stochastic, MACD, and RSI) and Trend Channels. Technical analysts always aim to identify prevailing market directions so that they can have a clearer picture as to whether the price is in a bullish (rising) or a bearish (falling) mode. Part of the analysis involves reading the charts either from a short term perspective using time frames such as M1, M15, M30 and H1, or from a long term one using H4, Daily, Weekly and Monthly time frames. Above all though, to become a professional technical analyst you must at all times read the markets so that you can acquire the relevant experience and intuition throughout the process. STO: TRADE WITH US!!!
Posted on: Thu, 11 Sep 2014 08:22:10 +0000