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Technical Analysis

5 Ways to Improve Your Technical Analysis Skills

Technical analysis can sometimes be seen as an easier approach to forex trading than fundamental analysis. But, truth be told, there is quite a bit of a learning curve to it. Many forex traders who are just starting out find it challenging to understand the technicals. And it does take a...

How to Use Pivot Points

Pivot points or pivots are useful indicators for determining levels at which the sentiment of the market can change from bullish to bearish or vice versa. Generally seen as markers of support and resistance, pivot points are widely used by day traders in the spot forex market. These traders...

Trading the Head and Shoulders Chart Pattern

Technical analysis is an efficient technique used to study price movements of financial markets, with its findings forming a credible guide to future market direction. One of the most well-known chart patterns is the head and shoulders formation, boasting not only high profitability, but also distinct rules for its assembly. Although...

A Primer to Understanding Basic Chart Patterns

Do technical trading patterns exist and are they profitable? This is a question often asked by new traders. Depending on who you ask, the response will differ. Some academics and investors believe patterns don’t exist – that price action is entirely random, whereas the majority of technical analysts are adamant chart...

Interpret the MACD Indicator Like a Professional

Technical analysis contains numerous indicators, many of which traders use daily in the financial markets. Few, however, attain the popularity of the Moving Average Convergence Divergence (MACD). Developed in the late 1970s by a gentleman who goes by the name of Gerald Appel, the MACD is primarily defined as a...

Gann Swing Charts

One of the core principles of technical analysis is that prices move in trends. Subsequently, the goal of technical analysts is to identify the trend in its very early stages of development. While experienced traders may nod their head in agreement, often beginners face difficulties identifying the trend on...

Simplify Your Trading with Bollinger Bands

The history of trading bands, envelopes and channels is long and interesting. In the years since the creation of Bollinger Bands in 1983, a number of adaptive bands were created. Chief among them were Keltner Channels, introduced by Chester Keltner in the 1960s. This technical indicator is similar to Bollinger...

Relative Strength Index: How to Trade Using the RSI Indicator

Nowadays, popular trading platforms offer in excess of 100 indicators. You could say you are almost spoilt for choice. The mammoth selection, however, tends to be detrimental, often leaving traders overwhelmed, particularly those in the earlier junctures of their journey. Fortunately, a handful of indicators have stood the test of...

Retracement in Forex Trading

Leonardo Fibonacci, an Italian mathematician from Pisa, is credited with introducing the Hindu-Arabic numeral system to Europe during the Middle Ages. In his book, Liber Abaci or ‘Book of Calculation’, he also introduced an influential sequence of figures which have come to be known as the Fibonacci numbers. The relationship...

How to Determine Trends on Forex Market

A trend, on the Forex market, is a dominant direction of price movement. For example, if the price is rising, then the trend is ascending — and vice versa. The ability to determine trends at their very beginning is the main quality that differentiates a successful trader from an...

How to Read Candlestick Charts

Candlestick charts are among the most popular of charting styles followed by traders today. However, they have a distinguished history that dates back to the early part of the 18th century. Candlestick notation was developed by Japanese rice merchants who were keen to be able to track and record price movements...

How to Trade on Forex Without Indicators And Still Profit

If you want to trade on Forex, you need to keep up with it — read the news, analyses, various reports, market indicators and even the actions of other traders. It's not that easy and puts people under a heavy emotional strain. Luckily, there is another way. Price Action allows...