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Technical Analysis in Forex Trading

The Basic Concepts of Forex Technical Analysis

Technical analysis is an integral part of trading. It can be hard for novice traders to spot chart patterns and determine next tendencies in the market and act on them accordingly, yet it's a must learn, if you want to succeed in trading.

Dow Theory (Dow Jones Theory) Explained

Dow only took in consideration closing prices. Averages had to close higher than a previous peak or lower than a previous trough to be significant. Intraday penetrations did not count.

Forex Chart Patterns

Traders often use chart patterns when conducting technical analysis. The behavior of the Forex market shows patterns, and since chart patterns usually appear during trend reversals or when trends begin to form, traders often follow them when trading. To strengthen your trading knowledge, you can read our other article about "What is Forex trading and how does it work".

Forex Technical Indicators and Oscillators

Technical indicators are inseparable part of technical analysis. They aim to predict future market movements and help a trader to be oriented in the market. There is a very large range of indicators which are used by the traders for forecasting the market. Some people prefer an indicator which is proved to work in the past; others try to experience new ones to reach success. Examples of such technical indicators are trading indicators by Bill Williams, Oscillators, Trend and Volume indicators.

Details
Author
Heghine Grigoryan
Publish date
13/11/23
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