TECHNICAL
ANALYSIS
Forex technical analysis
It boils down to identifying the most appropriate time to enter the market to "buy cheaper, sell more expensive" — this can be detecting the trend reversal point, determining whether its direction is suitable for entering the market at the current moment, or, for example, identifying potential opportunities for earning even during a flat period. On an uptrend or bullish trend, you can earn both on the growth of the price of a currency pair, and on temporary pullbacks (corrections).In the event of an unexpected price reversal against open trades, the trader will have to independently determine at least the approximate closing time of trades with a profit. Use manual closing, Stop Loss (fixing losses) and Take Profit (profit) orders. The search for the closing point is based on the same rules of technical analysis.
The underlying tenets of technical analysis
For ease of application of technical analysis, the trading period from the start of trading on Monday to the end on Friday is divided into equal intervals – time frames. Thanks to them, it is possible to analyze the most significant parameters. These include the price at the time of opening/closing of the period, the price minimum/maximum, and volumes.
The basic postulates of technical analysis are the basis of almost any trading strategy.
· Prices include everything
Their change is influenced by absolutely any political or economic factor (sometimes climate). The degree of influence is determined by the significance for the state whose currency is traded.
· Subordination of prices to trends the
value of currencies is constantly changing. As a result, currency pairs grow
and
fall in price. During certain periods, a flat may occur — a time of uncertainty when the price does not change much over time.
· History repeats itself
Trend reversal and flat market conditions are observed at the same price levels. Once noticed, the trend can be repeated many times, which traders use in trading systems.
Standard and non-standard timeframes
The trading platform offers several standard time intervals – from M1 (minute) to MN (month). The chart is divided into nine timeframes, in Addition to the extreme ones, M5, M15, M30, H1, H4, D1, W1 are used. the dynamics of visual price changes depend on the period selection. Short-term trading systems use time intervals no older than M30. Some traders are resorting to creation of non-standard timeframes. Their task is to compensate for the disadvantages of standard values. For example, if the indicator on H1 shows a late value, but on M30 it is "in a hurry". Presumably, the "average value", i.e. the M45 time frame should show the most accurate time for opening trades.
Technical analysis tools
Periodic repetition of previously occurring events allows you to prepare for them and, by timely identifying the tendency to return to previous positions, earn a profit. There are a lot of tools in the trader's Arsenal: support/resistance levels, ascending and descending channels. The terminal has built-in functions for drawing the necessary lines on the chart of a currency pair.access to them is provided from the "Graphical tools"panel.
In addition to standard lines, the following tools are available:

- Grid, fan, arcs, time zones, and Fibonacci channel

- Grid, lines, Gann fan.

- Fourier series

These trading "add-ons" are an attempt to mathematically predict the subsequent price movement based on technical analysis of the previous trend dynamics in the market. The use of channel tools allows you to trade at the moment of price reversal within the channel, taking into account the current trend. Channel lines indicate where a correction reversal is most likely to occur if the price moves against the trend, support/resistance lines indicate the price level where a trend change is likely, the beginning of a prolonged correction. All technical analysis tools are based on mathematical calculations and are used mainly as a basis for determining trends, and more precisely, the moment of entering the market is determined by indicators.
The use of Japanese candlesticks
Forex technical analysis includes the control of such components of Japanese candlesticks as:

Body of the candle. The color indicates the direction of price movement. By default, white is used for rising candles, and black is used for declining ones.
The size of the candle. It indicates the strength of seller/buyer pressure. There are Doji candles when the opening price is equal to the closing price.
The presence of the tail and its size. Displays the indecision of sellers/buyers in the market, which leads to price fluctuations around the same level.

Various types of candles are the figures, their combination can be used to determine the current trend (trend), approaching a turn. If there is no certainty about the H1 period candle, the trader switches to lower time frames and thus provides a more accurate Forex technical analysis. If we are talking about scalping, they act the opposite – they work mainly on the younger TF, and the General trend is looked at by the older ones.
Candles also show the volatility of the currency pair. If you switch to periods from H4 and higher, it will become clear in which range the price is moving in the current month or this week, whether there is a risk of a reversal, the market entering a long-term flat. Accurate results are achieved by using additional tools, searching for patterns and indicators. When a trader is counting on a long-term perspective, a more dynamic picture on the TF below H1 allows you to react faster to signals that appear at the intervals of H4 and higher.

10 basic technical analysis figures
Triangle. There are bullish, bearish and symmetrical (the latter means continuation of the previous trend).

Diamond. Visually, a rhombus is formed on the chart, the tops of which rest on the resistance/support levels.

Double top. A reversal pattern that can be used as a separate instrument or as an additional signal.

Wedge. One of the "long-playing" figures can be formed over a long period, which is convenient for use in long-term trading strategies.

Triple bottom. Allows you to determine the direction of the breakout during the flat period.

Triple top. One of the tools for determining the reversal point of a trend that works at moments of consolidation.

Double bottom. Another figure indicating that the downward trend is changing to an upward one.

Flag. Occurs after the news of the pulses, indicates the continuation of a previously defined direction.

Saucer. A figure used by long-term trading enthusiasts.

Pennant. A flag-like pattern with a similar definition.
Types of indicators
Indicators are divided into several categories:

Trend indicators. They show the direction, the strength of the trend, and the probability of a reversal.

Oscillators. Display a mathematical model for measuring the rate of changes in the market.

Bill Williams and Volumes. They work on a "separate theory", but have a
fairly high efficiency in short-and long-term trading.

The key task of indicators is to indicate the recommended direction for entering the market (Buy or Sell orders), and to indicate volatility for profit forecasting. Without their use, the trader will have to focus on "simpler" signals – support/resistance levels, trend channel lines.

Many trading strategies contain rules for combining the readings of different indicators. When conditions appear on one of them (conditionally the main one), the trader looks for confirmation on the others. And only if there is a match, the decision to open a deal is made. If it is not present, wait for the next signal of the "main" indicator.
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