Application of technical analysis in Forex. Cornelius Luke
Statistics show that technical analysis is more effective when applied to Forex than to the stock market.
This is because fundamental factors have a greater influence on the stock market, and stock prices are more often influenced by the underhanded dealings of large market makers.
Technical analysis allows you to track patterns in the behavior of currency pairs and then use them as signals when opening new trades.
It's worth noting that using technical analysis in practical trading requires a considerable amount of theoretical knowledge. This book will help you gain this knowledge.
This textbook can easily be called a scholarly work, given the extensive information it contains on the subject.
To see for yourself, read the summary of the book:
2. Trend reversal patterns – which of the graphical figures on the chart may indicate a high probability trend reversal and how to determine these models.
3. Trend continuation patterns – description of graphic figures that confirm the existing trend and their appearance.
4. Chart types – here we will again talk about various chart patterns and signals, and the signals they provide.
5. Quantitative Analysis Methods – a section on moving averages and other variables that characterize price based on historical data.
6. Oscillators – what this category of scripts represents, the most popular representatives of the oscillator family.
7. Other Indicators – descriptions of technical analysis indicator groups, the principles they operate on, and recommendations for use on various time frames. The indicators themselves can be downloaded here - http://time-forex.com/indikators
A separate section can be dedicated to 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".
Read also interesting articles about technical analysis - http://time-forex.com/tehanaliz
