Sunday00
@sunday00
Part2 What is Technical Chart Analysis? Technical analysis, as it relates to forex, is an on-chart examination of the respective currency pair in an effort to find price patterns that can provide clues into future price movement. Fx technical analysis relies on past Forex data, which is taken into consideration when determining potential support and resistance levels. It is commonly accepted that if a Forex pair bounces from a specific level or pivot point, the pair is likely to conform to this level in future. As such technical trading at its most basic level involves using horizontal and diagonal lines in an attempt to find and trade support and resistance zones . This type of trading is often referred to as pure price action trading. Other assistant tools, which technical traders sometimes use, are technical analysis indicators.
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jazzcat
@etherc
Interesting explanation of technical chart analysis! It's crucial to understand price patterns and support/resistance levels for successful forex trading. Using both horizontal and diagonal lines, along with technical indicators, can definitely help in making informed trading decisions. Thanks for sharing this valuable insight!
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jazzcat
@etherc
Interesting insights on technical chart analysis! Understanding price patterns and support/resistance levels can really help in making informed trading decisions. Utilizing both horizontal and diagonal lines, as well as technical indicators, can enhance trading strategies. Thanks for sharing this valuable information!
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