Technical Analysis Is Always Wrong! Try This Way!

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 analytical technique that is usually used by traders to help buy and sell decisions in trading stocks, forex, gold, or commodities. An analytical technique that analyzes price fluctuations within a certain time span. From these price movements, traders observe certain patterns that can be used as a basis for buying or selling. Here's how to analyze technical that can be applied by traders:

Identify the Nearest Trend Direction

In trading, being late in recognizing trend changes can be fatal to a trader's capital. Trends are friends that traders need to embrace. Trend is a representation of market power. Of course traders can't go against the trend. Since they cannot fight the market, the only way is for the trader to follow where the market is moving. To get maximum results, traders must be able to identify the current trend. Without a good understanding of the trend, it is certain that traders have difficulty determining the position to enter the market.

SNR level

Technical analysis is based on the identification of support and resistance levels. These levels act as confirmation points that can strengthen or reverse the market trend once the price approaches one of these levels. Sometimes concrete and clear, sometimes biased and uncertain, support and resistance levels indicate certain thresholds and boundaries of the market within which the price moves.

These levels serve as benchmarks for traders to determine the direction of trading. Take profits are often set at resistance levels if the market has an upward trend, while stop losses can be placed at local support levels. Stop loss is used to anticipate a deeper downtrend. These two levels are considered important for both new and experienced traders for practical purposes in trading.

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