Want to learn how to analyze forex? Here we will learn how to analyze forex technical on metatrader platform. By having the ability of technical analysis, trading we have greater possibilities to achieve profit.
What is technical analysis? technical analysis is a way to predict the direction of the next graph based on current and previous chart patterns, by reading the graph itself or using the aid of tools and indicators.
So the core of this technical analysis is to find out where the next price will move, whether want to Go or want to Go down.
Why are current and previous chart conditions used as a basis for analyzing price movements?
In everyday life, if we want to know what someone will do next, then we must know first the person's habits. For example after doing A, he will do B then C then D. By knowing his habits like that, we just observe the condition now he is what. for example he is doing B, then we can guess that next he will do C.
Similarly, to guess the direction of forex chart price, if we already know the pattern, we just find out what conditions are happening right now. That way we can guess what will happen next.
There are many ways to do technical analysis, but we will discuss only a few.
This is the sequence of learning forex technical analysis we will do:
1. How to Analyze with candlestick
2. How to analyze with chart pattern
3. Analysis using classical indicators
4. Analysis using modern indicators
5. Analyzing market volatility
6. Analyzing Market Saturation with Money Flow Index
After knowing some basic analysis, then we will analyze based on entry pointnya. We already know that there are several types of traders based on their point entries:
a. Bottom Buyer Top Seller
b. Breakouter
c. Trend Follower
d. Correcter
e. Convergent
Therefore we will analyze the graph to look for entry point of each type of strategy. Here is the list:
- How to determine the peaks and valleys
- How to determine the breakout
- How to determine the trend that will happen
- How to determine the tip of the correction
- How to determine convergent
By knowing several ways of analysis above, you can determine how the analysis that best suits your trading style.
Success in trading is not determined by the number of ways you analyze it, but it is determined by how diligently it is to deepen and run one way of analysis.
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Measures overbought and oversold
The saturated market is divided into 2, namely Jenuh Beli (overbought) and Saturated Sell (oversold). The core of both is to signal to us that the market will soon reverse direction.
Overbought is a condition where there are too many traders who open and hold open Buy position, on the other side is no longer open a new position because it is not in imbangi open Sell. So as if trading activity stalled, what remains is the number of open open buy positions.
In this condition that is done by some traders is closing the open buy position to gain profit (profit taking). The more closing the position, the market decreases. So that in the overbought condition, then the market reverse direction becomes down.
It can also be said that this overbought is a condition where the price is too high and will not move higher because it is considered inappropriate and unacceptable if the price is really higher.
Usually the technicalists use the RSI or Stochastic Oscillator indicator to measure the saturation level of this market. But this time I suggest you to use MFI (Money Flow Index) as an indicator of market saturation measure. Its advantage is more giving certainty and do not need much interpretation like RSI.
For example: in EUR / USD time frame 5 minutes, we can use MFI with parameter period 4 and fixed minimum 0 and fixed maximum 100 as indicator indicator overbought.
By using MFI (4) this overbought is indicated by the MFI line that touches the 100 level. So if this condition happens we can get ready to buy contract down or Open Sell.
overbought
Oversold is the opposite of overbought which in essence is a condition where the price is too low and will soon reverse direction to rise.
The oversold condition can be marked with MFI (4) which touches 0.
oversold
Noteworthy are:
1. The use of MFI as an overbought and oversold measure does not apply to very volatile market conditions.
2. The use of MFI should be combined with the convergence theory
What is technical analysis? technical analysis is a way to predict the direction of the next graph based on current and previous chart patterns, by reading the graph itself or using the aid of tools and indicators.
So the core of this technical analysis is to find out where the next price will move, whether want to Go or want to Go down.
Why are current and previous chart conditions used as a basis for analyzing price movements?
In everyday life, if we want to know what someone will do next, then we must know first the person's habits. For example after doing A, he will do B then C then D. By knowing his habits like that, we just observe the condition now he is what. for example he is doing B, then we can guess that next he will do C.
Similarly, to guess the direction of forex chart price, if we already know the pattern, we just find out what conditions are happening right now. That way we can guess what will happen next.
There are many ways to do technical analysis, but we will discuss only a few.
This is the sequence of learning forex technical analysis we will do:
1. How to Analyze with candlestick
2. How to analyze with chart pattern
3. Analysis using classical indicators
4. Analysis using modern indicators
5. Analyzing market volatility
6. Analyzing Market Saturation with Money Flow Index
After knowing some basic analysis, then we will analyze based on entry pointnya. We already know that there are several types of traders based on their point entries:
a. Bottom Buyer Top Seller
b. Breakouter
c. Trend Follower
d. Correcter
e. Convergent
Therefore we will analyze the graph to look for entry point of each type of strategy. Here is the list:
- How to determine the peaks and valleys
- How to determine the breakout
- How to determine the trend that will happen
- How to determine the tip of the correction
- How to determine convergent
By knowing several ways of analysis above, you can determine how the analysis that best suits your trading style.
Success in trading is not determined by the number of ways you analyze it, but it is determined by how diligently it is to deepen and run one way of analysis.
keyword: forex technical analysis forex analysis forex technical analysis fbs forex forex analysis how to run forex trading analysis forex explanation fbs how to play forex with correct learning forex analysis how to analyze forex market forex treding forex how to forex analysis forex analysis forex analysis forex market analysis tekhnikal forex indicators technical analysis forex forex texnikel learn technical analysis forex for beginner learn forex technical analysis how to analyze forex technically how to understand forex chart how from forex analysis learn strategy forex analysis forex learn technical analysis treedding how to analyze tranding fbs how to analyze market forex
Measures overbought and oversold
The saturated market is divided into 2, namely Jenuh Beli (overbought) and Saturated Sell (oversold). The core of both is to signal to us that the market will soon reverse direction.
Overbought is a condition where there are too many traders who open and hold open Buy position, on the other side is no longer open a new position because it is not in imbangi open Sell. So as if trading activity stalled, what remains is the number of open open buy positions.
In this condition that is done by some traders is closing the open buy position to gain profit (profit taking). The more closing the position, the market decreases. So that in the overbought condition, then the market reverse direction becomes down.
It can also be said that this overbought is a condition where the price is too high and will not move higher because it is considered inappropriate and unacceptable if the price is really higher.
Usually the technicalists use the RSI or Stochastic Oscillator indicator to measure the saturation level of this market. But this time I suggest you to use MFI (Money Flow Index) as an indicator of market saturation measure. Its advantage is more giving certainty and do not need much interpretation like RSI.
For example: in EUR / USD time frame 5 minutes, we can use MFI with parameter period 4 and fixed minimum 0 and fixed maximum 100 as indicator indicator overbought.
By using MFI (4) this overbought is indicated by the MFI line that touches the 100 level. So if this condition happens we can get ready to buy contract down or Open Sell.
overbought
Oversold is the opposite of overbought which in essence is a condition where the price is too low and will soon reverse direction to rise.
The oversold condition can be marked with MFI (4) which touches 0.
oversold
Noteworthy are:
1. The use of MFI as an overbought and oversold measure does not apply to very volatile market conditions.
2. The use of MFI should be combined with the convergence theory
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