Stages of Reading and Analyzing the Forex Market

 Reading and analyzing the market is the most basic thing that a trader needs to master. There are many ways to do this, one of which is to use the simplest strategy. In the financial market, all prices of an asset or financial instrument can move up, down or sideways (the price doesn't move). To read price movements, traders must first know some of the terms that are often used when reading and analyzing the market.

  1. Trend: Where the price moves in a certain direction, it can go up or down.
  2. Range : Where the price moves flat (sideways), there is no increase or decrease.
  3. Uptrend/rally: The price is moving up.
  4. Downtrend: The price is moving down.

To read price movements in the market, traders also need the right time frame, and adjust it to the type of trade being made. As explained above, if the trader is a day trader in forex trading, who trades or opens positions once a week. Then traders can use the W1-D1 medium timeframe. Next, look for the highest price and the lowest price within a certain period of time according to the specified time frame.

Those are some things that traders need to know and learn about trading charts or charts. If the trader is able to read the chart of price movements in the market, then the next time it will be easier for the trader to analyze it. So that traders can predict what will happen to future price movements.


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