Concept of Support and Resistance
Support and resistance levels are a powerful concept in technical analysis. If you’re a beginner in the market, understanding the concept of support and resistance levels should be your number one priority. This is because many advanced strategies rely on the basics of support and resistance.
Concept of TrendLine Trading
Identifying Swing high and swing low; you might have heard the term being used many times by a forex trader, especially among day traders. If you have been confused by what this term means
Anatomy of candlestick in forex trading (Beginner tutorial)
Candlestick charts are used by traders to determine possible price movement based on past patterns. Candlesticks are useful when trading as they show four price points (open, close, high, and low) throughout the period of time the trader specifies. Each candlestick represents a specific time frame and gives data about the price’s open, high, low and close during the period.
Forex Chart Pattern
Chart patterns are an integral aspect of technical analysis, but they require some getting used to before they can be used effectively. A chart pattern is a shape within a price chart that helps to suggest what prices might do next, based on what they have done in the past. Chart patterns are the basis of technical analysis and require a trader to know exactly what they are looking at, as well as what they are looking for.
Forex Continuation Patterns
Continuation patterns occur mid-trend and are a pause in the price action of varying durations. When these patterns occur, it can indicate that the trend is likely to resume after the pattern completes. A pattern is considered complete when the pattern has formed (can be drawn) and then "breaks out" of that pattern, potentially continuing on with the former trend.
Forex Neutral Patterns
Neutral chart patterns occur in both trending and ranging markets, and they do not give any directional cue. Neutral chart patterns signal that a big move is about to happen in the market and traders should expect a price breakout in either direction.
Forex Reversal Pattern
Reversal patterns are specific price formations resulting from price movements in the financial market that indicate the price has stopped moving in its current direction and has reversed to go towards the opposite direction. Put simply, a forex reversal pattern tells you when the price is likely going to reverse and go in the opposite direction.