Technical Analysis for Maximum Profit on Forex

Technical analysis is an analytical technique that is usually used by traders to assist buying and selling decisions in forex or commodity trading. 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. This is the technical analysis that traders can use to get maximum profit:

Trend

In the world of trading, trends are a representation of market forces. Traders are unlikely to be able to fight the market. If it is not friendly with the trend, it means that the trader is expressing hostility to the market, because it is impossible to fight the market, so the only way is for the trader to follow where the market is moving.

Range

With a forex trading range strategy, it can certainly open up technical opportunities for traders. In learning the basics of a trading range, by using resistance levels and the existence of good support. When a currency pair tends to a certain direction, there is a market range. Traders should be able to take advantage of the trading levels defined in the placement of new entries. Not because it was hindered by the price pointing to the side.

If the price has moved and reached the daily range, then it's time to open a position for trading. This means that if the price moves up and then starts to reach the daily average range, sell immediately. Vice versa, if the price moves down, then do buy.

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