Technical Analysis Concept

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.

Technical analysis is an approach to price analysis that studies market activity using historical price data, including price charts, that have occurred in the past, to predict and anticipate future price movements.

In this case, of course, technical analysis must have data and price charts. Historical data used in technical analysis includes information on opening prices, closing prices, highs, lows, and trading volume. Here are tips for doing the right technical analysis:

Recognize 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 recommended to choose the type of long-term trend (major trend).

Determine 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.

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