HOW TO predict the Future ?
by studying the Past (Technical Analysis):
1) The best traders don’t discount one or the other but understand that having an understanding how the fundamentals influence market sentiment gives him/her an edge over those traders who don’t.
2) In my opinion, TECHNICAL analysis is the easiest and most accurate way of trading the FOREX market.
3) “The number’s don’t lie” – all available information and its impact on the market, are already reflected in a currency’s price.
4) Prices move in trends – the foreign exchange market is mostly composed of trends and therefore a place where technical analysis can be very effective.
5) History repeats itself – over time, certain chart patterns become consistent, predictable and very reliable. The question is SEEING them.
PRICES MOVE IN TRENDS
The traders who don’t believe this obviously have no need to implement a trading methodology on technical analysis. But, research has shown that those who trade “with the trend”, greatly improve their changes of making a profitable...
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