Trading Using Technical Analysis

Trading analysis is a significant tool used by traders to make investment decisions. In general, fundamental analysis tells what instruments to trade, while technical analysis tells when to trade.

Analysis will always be put in the first place before trading. For this reason, the success of traders is also influenced by the quality of their analysis. It is true that nowadays many traders use these two analyzes to support each other. However, there are still many who only use one analysis.

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 a chart. In technical analysis that needs to be mastered by traders, namely how to read candles both from the characteristics of the candlestick itself and its shapes, mastering the market structure formed, and the highest and lowest levels (SNR). In determining the entry, make sure there is a confirmator or trigger used. This trigger can be from a candle pattern, it can be doji, hammer, etc. Then look at the breakout or it could be the rejection of the long tail which needs one confirmation. There is no long tail suddenly turning to change color then it takes one more confirmer.

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