Question: What is Technical Analysis on FX market? How to do this by myself?
Technical Analysis focuses on past price behaviours. It involves the study of charts to identify patterns and trends.
The field of technical analysis is based on three assumptions:
- The market discounts everything
- Price moves in trends
- History tends to repeat itself
What to look out for in technical analysis:
- Trends Upward Trendlines
- Downward Trendlines Sideways Trends
- Line Charts Resistance Lines
- Support Lines Channel Lines
- Bar Charts Reversal Patterns
- Candlestick Charts Double Tops
- Double Bottoms Head & Shoulders
- Moving Averages
