Taking your first step in technical analysis
The first steps in technical analysis start with the chart to see what price is doing, as seen across the higher timeframes.
Is there a trend (up or down) or is price stuck in a range?
Where are the strongest areas of support and resistance?
As a technical analyst, even before you plan a trade you could first mark out the price zones where a price has found support and resistance repeatedly over time. The more often a price bounces off a support line, the stronger that area of support becomes. The same is true of an area of resistance. Even if you only think to trade the lower timeframes, it is good practice to be aware of these zones dating back months and even years. This is because history and, in this case price history, has a way of repeating itself.
