When it comes to trading, technical analysis is one of the essential tools you can use. By studying charts and indicators, you can better understand what’s happening and make more informed trading decisions.
What is technical analysis?
Technical analysis studies price action to find patterns and indicators that give traders an edge in predicting future market movements. Technical analysts are when all publicly available information is already factored into a security’s current price, so they look at charts and indicators to determine where the market might be heading next.
However, not all technical analysis is created equal. To be successful when trading FX online in Singapore, you need to use proper technical analysis techniques. Tips to get you started:
Candlesticks are popular ways to analyse charts. They offer a significant amount of information and can be used to identify patterns and trends. When analysing candlesticks, it’s essential to look at the body and the shadows. The body is the section of the candlestick that’s not the wick, and it tells you whether the market closed higher/lower than it opened. The shadows show the high and low points for the day.Continue reading