Want to make money in the forex market? You need to learn how to analyze the fundamentals of the market, understanding different currency news etc. Apart from that, you MUST learn technical analysis. Technical analysis is the science where you see the present chart and predict the future looking at different signal providers called technical indicators.
There are “fundamentals” and “technical” as materials to analyze the market price, both of which are important. Let’s introduce the weight to this “Technical” this time.
You can understand even if you do not know international situation
Technical is simply an analysis method “predict the future price movements from past patterns”. There are a lot of traders who place emphasis on this technical analysis in FX. You can read price movements without knowing the difficult international situation and you can become familiar with nature and FX transactions with the fun of this analysis itself.
The market is a living thing. Sometimes it is a whim, but there are obviously some “trends” with mysterious things. This is called “trend“, and in the case of FX there is a characteristic that its trend lasts to some extent. If you know the trend, FX will be able to win with a considerable probability if you know what to do with the market price hike?
Full of investors ‘experience’
It is a crystal of experience and wisdom of the investors in the battle, and this “technical index” is devised, so that you can see the movements of the market from all angles. There are a variety of things, such as those drawing various lines in line with “candlesticks” that is the basis of the basic, and those with figures drawn from completely different perspectives.
Until a long time ago, a number of these superior items that we could only use for professionals became usable by the evolution of the Internet and personal computers. It is no doubt that this is a major factor widely spreading FX to general individual investors.
Let’s take a closer look at representative technical indicators and distinctive patterns.
A trend can be grasped from multiple viewpoints of moving average line short, medium and long.
Bollinger band “Power” of trend is known. You can assume the price range.
You can understand selling signs, buying signs, trend turning points.
Feel the “fever” of trading stocks and see through opportunities. etc.
Now, understand the different technical indicators in detail. This website is full of the knowledge base to learn technical analysis. You can use this knowledge in Forex trading, stock market trading, commodity market trading etc.
Do NOT start with putting real money. Instead, start with the demo account. Many forex trading platforms like MetaTrader gives you notional money in the free demo account, wherein you can practise technical analysis with different technical indicators and learn the science and art of technical analysis.
You can discuss your questions and doubts in the comments section of this website and I’ll try to answer them to guide you.