Third Pillar "Method" (Trading Analysis)

In trading, there are two analyzes that are often used by traders, namely technical analysis and fundamental analysis. Technical analysis is considered to have more tools than fundamental analysis. However, because it is quite difficult to use, it requires a deep understanding to be able to use it properly.

IMPORTANT THINGS IN TECHNICAL ANALYSIS

Basic Concepts of Forex Technical Analysis

This type of forex analysis is used as an analytical method that is able to predict the direction of future price movements by studying market price data in the previous period that has been formed on the chart.

Trendline Concept in Forex

Trendline is one of the basic tools that is important to know to help traders recognize the potential profit in forex trading just by drawing a line (trendline). With trendlines, traders can find out support and resistance levels and their combination with the best indicators to look for sell or buy opportunities.

Forex Trading Support and Resistance Concept

An understanding of support and resistance is very important to be able to mark the location of prices that may experience significant movements.

TIPS TO DO THE RIGHT TECHNICAL ANALYSIS

Recognizing Current Trends

Whether long or medium term or short, the trend should be well recognized when trading. Although traders are free to choose the type of trend that is used, it is advisable to choose the type of long-term trend.

Determining Support and Resistance

The boundary that connects the highs and lows of a price can be used to look for opportunities to buy in the support area or sell in the resistance area.

Making the Most of the Moving Average

Moving averages can clarify the direction of the trend by smoothing fluctuations in price movements. MA can also function as resistance if it is in price movement, and if it is in price movement it will turn into support.

Determining Stop Loss and Profit Targets

When determining stop loss and profit targets, be sure to pay attention to the rules of risk reward ratio.


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