Sep 22, However; I must mention that higher time frames work much better to forecast and analyze the Forex currency pair charts. They are more powerful and important as well when it comes to define the support and resistance levels on a price chart. Now we can see it is just a plain daily chart without any technical indicator or technical study applied on it. So, it is a bit un-clear to judge which way price is going to move next and when it is going to change the trend?
A trader could easily notice that trend is bullish based on rising green colour trend lines. Now, let us make the same chart a little bit more clear by adding support levels. Before I move forward I must first tell you my definition of a support level. This means, people are more interested to buy aggressively at a support area than any other price level on a price chart and thus market moves up.
I have drawn in green color horizontal trend lines to define the support areas on a price chart. Now, we have successfully defined a support area and the value is 1. This means, it is a good idea to look for a possible buy trading opportunity at or around 1. So, as long as price stays above 1. My whole trading idea is to first define the market trend. Next, look for trading opportunities that goes in the favour of market trend. I hope above explanation of technical analysis is clear so far.
Out of many, one benefit of using MACD is to find out if there is a divergence present on a price chart or not?. So, with the help of MACD divergence we can easily identify a possible reversal in an existing bullish trend or bearish trend before market actually reverses, with a high probability. However; this is just a forecast and not a sell trading signal as MACD divergence suggests weakness in an existing up trend.
I must also mention that some times, divergence with MACD also fails like any other indicator or market trading approach. So, if price falls down and closes a bearish candlestick below 1. Trading Style and Methodology: Azeem is a pure technician and he solely employs technical market analysis in trading. He believes that the news is just the catalyst for technical events. In his opinion, prices are so far ahead of any news story as every conceivable fundamental possibility has already been discounted.
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No Amount is too Little or too Big. Some social media users have been blasting and trolling Meir Barak of Tradenet because he said in one of his Is Forex School Online going to really teach you the right skills needed to make money from the markets?
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