Basic Technical Analysis For Those Who Still Often Lose

Technical analysis in forex trading is an analytical method used to predict the direction of future price movements by studying price data in the previous period that has been formed and displayed on the chart. Here's how to do technical analysis in forex trading:

Get to know the current trend

See and recognize current trends. Starting from the long-term trend, then retreating to the mid-term or short-term trend.

Although traders can choose which trend they will take advantage of, it is advisable to look for long-term trends and follow them.

If the trader has recognized the trend, then the best trading strategy that the trader needs to have is to take a position or transaction in the direction of the current trend.

If the trend at that time is up (uptrend), then traders should pursue buying opportunities. Conversely, if the current trend is down (Downtrend), then look for selling opportunities.

Determine Support and Resistance Levels

In forex trading, this strategy is a boundary that connects the highs and lows of a price where traders can look for opportunities to buy in the support area or sell in the resistance area.

If in the first step the trader takes a position in the direction of the trend and sees the current trend as an uptrend, then look for a long position in the support area, and vice versa. Support and resistance can be a warning if the price does not move as expected.

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