Main 3 principles of forex technical analysis

[Moshalabi]

Technical analysis is the most popular tool used and applicable to stocks, indices, commodities, futures, cryptocurrencies or any tradable instrument where the price is influenced by the forces of supply and demand.
Technical Analysis is the estimating of future price movements based on an examination of past price movements.
Technical analysis uses the indicators and a wide variety of charts that show price over time.
Technical analysis can be used for any freely traded security in any financial market
Traders use technical analysis to anticipate price movements, which makes it easier to distinguish areas of buy and sell.
Price data or market action refers to any combination of the open, high, low, close, volume, or open interest for a given security over a specific timeframe.
The timeframe can be based on Intraday data 1-min, 5-min, 15-min, 30-min, 1-hour, daily, weekly, Monthly.
Principles of technical analysis :

1. Market movement controls everything
2. There are trends in price movement
3. History repeats itself

1. Market movement controls everything

This is the cornerstone of technical analysis and if the meaning of the first rule is not fully realized and accepted, it will not be easy to interpret the other rules.
All technical analysts believe that the price movement is only a reflection of the changes in supply and demand.
If the demand exceeds supply, the price will go up, if the supply exceeds the demand, the price will drop. This movement is the basis of all economic forecasts.
If the technical analyst thinks about this, In the case of a rise in the price, whatever the grounds for its advance, demand must outweigh the supply, and that the fundamental analysts will be pressured to get the price for the upward trend. Conversely, analysts will try to take the price for a downward trend in the case of a drop in price.

 

[Billy Thompson]

There are two types of analysis in forex market. One is fundamental analysis and another is technical analysis. Technical analysis is very important in forex trading. Every trader has different techniques. Brokers have also different techniques of trading. I am trading with TP Global FX. They help me to do my technical analysis smoothly and help me to make profit and minimize the loss as much as possible.

 

[Michael Ali]

Forex technical analysis is a very essential part to make the money especially the time frame cause every time frame has some strength so if we are able to get those things then it will be very easy to make money. For me, I always use a price action strategy in FreshForex broker, and in this way, I am earning quite good.

 

[Jhon Dumani]

Brokers are very important issues in trading. If the broker is not good, it is very difficult to make a profit in trading. The broker protects your investment. Brokers offer many types of benefits. So a good broker is very much needed to develop good skills in trading. Forex4you has made my trading life enjoyable with their blessing opportunities and their support is always active.

 

[Jude Flabian]

The most interesting part of Forex trading is the working schedule which helps the traders to wok comfortably form anywhere around the world and at any time. The Forex market never sleeps and I like the thing because with my broker Tpglobalfx’s help I can complete my financial activity on due time and without facing any error. They have re-quote, slippage and dealing desk free trading environment so I can access easily.

 

[Kenneth Murdock]

If you want to start trading in the forex market then you have to follow some basic things for earning maximum profits. A reliable broker and strong knowledge are very important for a trader. A reliable broker, strong knowledge, proper guidance can easily make you earn a lot of money. I trade with Eurotrader. They are one of the best brokers I have ever worked with. They never make disappointment to their client.