Basic Technical Analysis
There are two main types of trading strategies in any market, whether that be Forex, Stocks, Futures etc. These are refereed to Technical Analysis & Fundamental Analysis. We will be learning about Technical Analysis in this Series. Technical Analysis is study using previous Price and Volume patterns. These patterns are typically shown on Price Chart. There are different type of Charts including: Candle, Bar & Line charts to name a few. The chart we will be looking at are candle charts.
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Be Able to Look at a Chart and Define All of These Pattern in a Quick Glance
Bearish Market: A negative perception; More sellers than buyers causing a currency pair to decrease in value (Down Trend).
Break Out: When a Currency Pair breaks out of a defined Range and begins to Trend (Technical Analysis).
Bullish Market: A positive perception; More buyers than sellers causing a currency pair to increase in value (Up Trend).
Double Top: When a price hits a previous High on a chart, then reverses (Technical Analysis).
False Break Out: When a Currency Pair attempts to breaks out of a defined range and then reverses (Technical Analysis).
Range: When a currency pair stays within a defined price range on a specific time frame. (Ex. The high is 1.5000 & the low is 1.4000, it is in a 100 Pip Range)
Trend: When a currency pair is moving in a defined direction.The Forex Market trends has been known to Trend more than any other financial market
Down-Trend: Characterized by Lower Highs & Lower Lows
Up-Trend: Characterized by Higher highs & Higher Lows
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