Application of technical analysis in Forex. Cornelius Luke

Statistics show that technical analysis, when applied in practice on Forex, turns out to be more effective than when used on the stock market.

Since the stock market is more influenced by fundamental factors and much more often the stock price depends on the hidden struggle of large market makers.

Thanks to technical analysis, you can track patterns in the behavior of currency pairs and then use them as signals when opening new transactions.

It should be noted that to use technical analysis in practical trading, you need to have a fairly large amount of theoretical knowledge.

The presented book will help you gain this knowledge. The provided textbook can easily be called a scientific work, it contains so much information on the subject being studied.

To be convinced of this, read the summary of the book:

1. Fundamental principles of technical analysis - a story about why this method of market research is so important, the types of charts on which it is carried out and the graphic figures with which the analysis is carried out.

2. Trend reversal patterns – which of the graphical figures on the chart may indicate a high probability trend reversal and how to define model data.

3. Trend continuation models - a description of graphic figures that confirm the existing trend and their appearance.

4. Types of charts - here we will again talk about various graphic models and signals, and the signals they provide.

5. Quantitative methods of analysis - a section on the moving average and other variables that characterize the price based on historical data.

6. Oscillators – what is this category of scripts, the most popular representatives of the oscillator family.

7. Other indicators – description of groups of technical analysis indicators, principles on the basis of which they operate and recommendations for use on various time frames. You can download the indicators themselves here - http://time-forex.com/indikators

A separate item can be highlighted in the chapter on typical shortcomings of technical analysis, which contains errors that arise in trading due to receiving false signals.

Download the book Application of technical analysis in Forex.

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