Whether you are drawing support and resistance lines, identifying key levels, applying technical indicators or comparing candle formations - you are trying to discover how Forex trading works without really looking at the causes of supply and demand. Technical analysis can be used for both long and short-term trading purposes. It is the only thing available for fast style traders such as scalpers, who achieve their benefits by daily Forex volatility instead of following a trend.
Forex- technical analysis
The strength of the technical approach is in the analysis of quantifiable information with precision since it has been accounted for by the market. The disadvantage is that it is affecting the market right at that moment. To rely on the results of a technical analysis, one must have in mind the notion that price formations in the past could affect price formations in the future, which many fundamentalists consider ridiculous.
In summary, fundamental analyzes are economic detectives with an element that predict the future, while technical analysts are visual archaeologists of time and price, while combining it with statistics
Forex- technical analysis
The strength of the technical approach is in the analysis of quantifiable information with precision since it has been accounted for by the market. The disadvantage is that it is affecting the market right at that moment. To rely on the results of a technical analysis, one must have in mind the notion that price formations in the past could affect price formations in the future, which many fundamentalists consider ridiculous.
In summary, fundamental analyzes are economic detectives with an element that predict the future, while technical analysts are visual archaeologists of time and price, while combining it with statistics
