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in technical analysis I noticed EUR JPY is being dropped, after I look at the weekly that the price is up to the area of supply / resistance ...
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for more details you can see in my picture below,, price has been tested in weekly supply area .. :)
Technical Analysis pay the vital role in the Forex trading. Senior traders always adopt this strategy and earn the profit. Technical analysis are very use ful in the Forex trading. Every one can earn the profit if they follow the technical analysis.
you see in other to be at the wining side of the forex market we just have to learn how to be at the positive side of the forex market so i will always advise newbies to take time to analysis on the technical analysis because with technical analysis we can be at the winning side of the market
What is Currency Technical Analysis?
It is simply defined as the study of price action through the use of charts - for the purpose of identifying price trends. It's not a science, as many chartists claim - it's an art, and it works! Why? Because technical analysis reflects human psychology. What about the supply and demand fundamentals, you may ask - well it takes them into account too.
Currency technical analysis uses the following equation:
Market Perception (trader psychology) + Fundamentals = Price Action
All currency technical analysis does, is postulate that all fundamentals are quickly reflected in price action (and in the 21st century with our advanced communications this is truer than ever) - so it simply concentrates on price action. It really is that simple!
Price action reflects all the fundamentals, and more importantly, how the participants perceive them
I'm sure right now most traders prefer to use both technical and fundamental analysis but me right now I just prefer to use technical analysis. Its better to plot than to think how the market will going to react base on this news and so on. For me fundamental analysis is more accurate but same time technical analysis is also better. I'm happy and earning good amount of money.
The debate between fundamental analysis and technical analysis has been going on for decades. Analysts on both camps argue endlessly about the sovereignty of each method and why one is better than the other and why one can be used in isolation of the other. I am here to tell you once and for all that Fundamental Analysis and Technical Analysis are really the SAME THING!
Technical analysis is an investment approach, with a focus on price patterns to make investment decisions, as opposed to fundamental analysis. What, then, is pattern analysis? Pattern analysis is the interpretation of charts and the interpretation of patterns from those charts. This will be discussed in this article about a basic introduction to pattern analysis in technical analysis. Chart reading and concomitant pattern analyses are not simply mere memorisation of patterns and recalling of their interpretations. It is not that simple and there is more to pattern analysis than that. Any chart is a combination of differing diverse patterns and, hence, an accurate evaluation relies on chart reading skills and techniques, consistent pattern study of charts, experience in technical analysis, and personal knowledge both technical and fundamental analysis-wise, and the ability to evaluate differing and sometimes opposing indicators, to analyse and evaluate patterns in view of diverse, composite, and sometimes differing details as well as recognising patterns in charts using, in some cases, fixed and memorized formulae.
uch a wonderful thread .,. l must thank you oracle . lt seems to me you are an experienced trder . l would love to follow your thread since l am a great lover of the indicator fibonacci . please keep posting about fibonacci more with picture . thanks in advznce .,.
http://img191.imageshack.us/img191/2...shot001uln.jpg
vvhat u think about my analysis, i think i found a pinbar in support area, its time to buy right?
VVhere is my taking profit area if i buy novv?? Is it fibonancy 50%? I need your lecture sifu :)
There are many different methods and tools utilized in technical analysis, but they all rely on the same principles - that price patterns and price trends exist in the market and that they can be identified and turned into profit opportunities.