Forex Trading Terms

Technical analysis is a method of estimating price movements by looking at historical market data. Price data is the most widely used type of data in the analysis process, although there are several other types of data that are also used in the analysis process such as volume and open interest in futures contracts.

In essence, using any method of technical analysis is a return to the theoretical basis, which has been methodologically proven effective for a certain period of time. After finding a suitable trading system, then you can look for other techniques that can be combined with existing trading methods. Here are some terms in technical analysis that all traders should know:

Rejection

Rejection is a price action setup which indicates that the price will reverse (reversal) from its original movement. A general rejection is a candlestick that has penetrated a level or area but its movement is rejected by the market so that the candle is closed with a wick or long tail. The longer the shaped tail, the more likely a reversal will occur.

Retracements

In the trading world, a retracement is known as a small pullback from an asset's price trend. Usually, retracements are temporary and harmless. Thus, the Fibonacci retracement describes the magnitude of the next temporary decline in asset prices based on the series of Fibonacci numbers.

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