Were focusing on technical analysis in this article with a description of some of the important indicators.
We could say, all wealthy traders use technical analysis but not all technical analysis traders are wealthy although T.A. is the most precise way of trading the Forex market. Its also useful note that fundamentals play their part in indicating whether a price will move up or down. It gives you the edge over other traders.
Technical Analysis is so powerful because of a few reasons
1)it represents numbers. All information and its impact on the market and traders is represented in a currencys price.
2)It helps to predict trends and the foreign exchange market is very trendy.
3)Certain chart patterns are consistent, reliable and repeat themselves. T.A. helps us to see them.
Heres one way of putting technical analsysis into perspective (wish I had a dollar each time I said technical analysis). We all know that prices move in trends. Research has shown that those that trade with the trend greatly improve their chances of making a profitable trade.
Trends help you become aware of the overall market direction and often rescue us from...
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