Forex Trading Technology

Traders new to technical analysis should start small. Beginners usually master one chart or candlestick pattern and build from there. As they gain experience, they will be able to build on these setups by adding other indicators and patterns. Backtesting is the best way to find out which trading strategy works best for you. You can also try different combinations of technical indicators to see which works best. The key to success is knowing which technical strategy works best for your trading style.

If you want to trade the trend, you need to know how to read price patterns. Technical analysis is the study of historical price action to discover patterns and determine the probability of future price movements. For example, if you look at 13 candlestick prices for a currency, the price may be moving down. If you look at the price of another currency and see a bearish "head and shoulders" pattern, it may continue to move down.

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