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  1. #1
    Member Reealjrd's Avatar
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    Default Forex Technical Analysis

    Technical analysis is the study of market action, primarily through the use of charts, for the purpose of forecasting future price trends.Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future. Instead, technical analysis can help investors anticipate what is "likely" to happen to prices over time. Technical analysis uses a wide variety of charts that show price over time.
    A technical analyst will study the price and volume movements and from that data create charts (derived from the actions of the market players) to use as his primary tool. The technical analyst is not much concerned with any of the "bigger picture" factors affecting the market, as is the fundamental analyst, but concentrates on the activity of that instrument's market.
    Technical analysis is based on three underlying principles:
    1. Market action discounts everything: This means that the actual price is a reflection of everything that is known to the market that could affect it, for example, supply and demand, political factors and market sentiment. The pure technical analyst is only concerned with price movements, not with the reasons for any changes.
    2. Prices move in trends: Technical analysis is used to identify patterns of market behavior which have long been recognized as significant. For many given patterns there is a high probability that they will produce the expected results. Also there are recognized patterns which repeat themselves on a consistent basis.
    3. History repeats itself: Chart patterns have been recognized and categorized for over 100 years and the manner in which many patterns are repeated leads to the conclusion that human psychology changes little with time.

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    Thanks reel for pointing out the importance of Technical Analysis, my favorite is technical analysis as the form of my trading is intra-day. As a small investor, I purchase stock daily at low price and sell it at high. That’s how I book my profit everyday. I use the price trend charts, moving averages and relative strength to find the stock value and maximize my profit. With the help of price charts we can prepare Support/ Resistance level for getting buy/sell signal, which is very helpful for trading wisely.
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    Member Reealjrd's Avatar
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    Quote Originally Posted by cozy View Post
    Thanks reel for pointing out the importance of Technical Analysis, my favorite is technical analysis as the form of my trading is intra-day. As a small investor, I purchase stock daily at low price and sell it at high. That’s how I book my profit everyday. I use the price trend charts, moving averages and relative strength to find the stock value and maximize my profit. With the help of price charts we can prepare Support/ Resistance level for getting buy/sell signal, which is very helpful for trading wisely.

    you are saying exactly right cozy, technical analysis is best for a forex trader and it makes a basic difference between a normal trader and a smart trader, obviously smart trader are making profit and others are loser, but your broker must involve in this analysis strategy because a broker can suggest you better even my broker AVAfx suggests me many times many good suggestion on forex trading and analysis also.
    Deposit $200 in AVAFX, Get $100 as Bonus!
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    I think it would also be nice to see a broker providing daily analysis to its brokers. Which not a lot of them is doing that.

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    Great you posted this info here ,
    It is very helpful for all new traders :)

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    Technical analysis is just a part of strategy making although its very important, but you cannot depend only on technical analysis, for a making a strategy you should considered various factors thats necessary for placing a trade.

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