Simple Successful FOREX Technical Analysis Basics

June 2, 2011 by  
Filed under Forex Trading

What Are The Most Studied or you simple things in Technical Analysis Knew That You Can Use in Forex trading?, Of course MOST events will answer this Without thinking about it, trend lines, resistance and support points and moving averages. The more professional traders will think more about it and Would answer “Yes, trend lines, resistance and support points and moving averages But Who Can Use Them Alone successfully in trading FOREX. ?? Here it is my turn to answer, trend lines, resistance and support points and moving averages Are the best Simplest Ways to Achieve Success in trading FOREX and keep the area always positive. ?? Just to make it simple we Need first to state the definition of These tools and Later to know how to use and Apply Them To Our chart in order to Succeed FOREX and build a real fortune. ?? 1. Trend Line: Trend line is the line That We Can Draw Between Two more price tops or bottoms or whatever on a chart Was the type of the chart “linear, bars or candlesticks”, this line Itself Which Could Be an uptrend line Which Is Being entre drawn in a bullish market bottoms and it Becomes a good support if the price goes south again or a downtrend line drawn entre Which Is Being tops on the price chart is down and when to market it as a resistance Considered the price when to up turns to direction . Note: The line Which touches more tops or bottoms is more Stronger and the signal produced by it is more reliable. ?? 2. Channel Trend: A trend channel is The Space Between two lines, the trend line and a line parallel to it Which is always drawn on the Opposite side of the trend line is drawn so it tops entre in an up trend or direction in a bottoms-through Movement bearish price. The trend channel Requires some conditions to Give an Accurate signal, the MOST important are: To Be a wide channel, more WIDER more reliable and to last more longer. ?? 3. Moving Average: Moving average is a Mathematical average of set of prices we can say That a simple moving average (SMA) with value of 5 and Applied to close is the sum of close prices for 5 moving bars on the chart Divided to 5 (eg . the average of Friday is the sum of the previous 5 days’ week “on a daily chart Divided to 5, while Thursday’s average is the sum of the 5 days before Divided to 5 and so, the moving average is the line Which pass through These averages points “, the MOST important condition for reliability is STI STI value, more great value more reliable moving average. Note: I suggest using More Than One moving average, 2 or 3 are accepted.???? 4. Support And Resistance Points: Support points Are the price points tested Were More Than Two Times When Price was going south and it Could not pass it, support points Are Completely the Opposite. These points Are Being Used to measure the probability of turning at mean price points, These Can Be DECIDED points by using “pivot points, fibonacci rates….. etc.” Note: The more times price touches a point and turn ITS Stronger direction the more it is.?? How Can We Apply this to chart and get money, I’ll summarize this in the Following chart image, it Explains Itself, it’s a chart for GBP / JPY, return signal WAS 1000 + pips in 2 days :???? Three Were going south moving averages, trend line WAS broken “price in green circle” to support good point. “23 WAS Nearly 6% fibonacci broken”, strong signal, yes?? For the chart please visit moneytecThe best resource for FOREX trading is MoneyTec MoneyTec,? – Active Traders Community Forum, Chat. MoneyTec is an online trading community That Promotes mature, intelligent Respectful & & positive discussion in a safe environment for everyone.

About Author Balayya is an active trader at MoneyTec MoneyTec, – Active Traders Community Forum, Chat. MoneyTec is an online trading community that promotes mature, intelligent & respectful discussion in a positive & safe environment for everyone.

Outlines & Highlights for The Forex Chartist Companion: A Visual Approach to Technical Analysis by Michael Archer, ISBN: 9780470073933

May 17, 2011 by  
Filed under Forex review

Product Description
Never HIGHLIGHT a Book Again! Virtually all testable terms, concepts, persons, places, and events are included. Cram101 Textbook Outlines gives all of the outlines, highlights, notes for your textbook with optional online practice tests. Only Cram101 Outlines are Textbook Specific. Cram101 is NOT the Textbook…. More >>

Outlines & Highlights for The Forex Chartist Companion: A Visual Approach to Technical Analysis by Michael Archer, ISBN: 9780470073933

Which is better Technical or Fundamental Analysis in Forex?

May 13, 2011 by  
Filed under Questions

Can Anybody tell me which is better analysis Technical or fundamental?Or there is any other way to predict about the Currencies/Forex Market?
what are uses of these analysis?are these worthless?

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