If you are considering currency trading in the Forex market, or you are already involved in Forex currency trading, here’s a money-making lesson that we can borrow from investors who use technical analysis to help them make investment decisions in the stock market.
The goal of performing technical analysis when currency trading is to predict profitable currency pair movements by analyzing price trends. The principles of technical analysis in the equity markets are the same as those in the Forex currency trading markets. In fact, the only real difference between the two is that the Forex market is open 24 hours a day while the equity markets are not.
This means that certain analytics that take time periods in consideration will need to be adjusted for Forex currency trading. Other than that, any of these common forms of equity technical analysis methodologies can be used when currency trading:
Elliott Waves — Developed by Ralph Nelson Elliott, this methodology is based upon the theory that market performance can be predicted by studying wave patterns that develop over a period of time.
Fibonacci Studies — Developed by 12th century...
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