Technical analysis

Technical analysis

Technical analysis (TA) is a method of predicting future performance of assets (in our case, currencies) on the basis of their historical performance. In contrast to fundamental analysis which is regarding the “value” of the asset, technical analysis is only interested in price, volume and other market information. Some traders use technical or fundamental analysis exclusively, while others combine them to make trading decisions.

TA is based on an assumption that price reflects all relevant information, so they look on the history of trade rather than on economic and financial data. According to TA, traders collectively tend toward patterned behavior. Chartists face on recognizable trends and patterns because price actions tend to repeat. Technical analysts use special indicators and tools in order to predict prices.

Timeframes

You may analyze any trading period (timeframe) of the following: month, week, day, 4 hours, 1 hour, 30 minutes, 15 minutes, 10 minutes, 5 minutes, 1 minute. Choice of the timeframe depends on the scope of your analysis.

Types of charts:

  • Bar charts
  • Candlesticks
  • Line charts

In this section, you may find the most useful and comprehensible information about the TA tools: candlesticks, patterns, indicators and tools. Understanding of the logics and instruments of TA can give you a lot of benefits on the market. 

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