Before I use real money 💸, I practice trading with a demo app like TradingView 📝

🔰 Basic Technical Analysis for Beginners

1. Understand Price Charts

Candlestick Charts are most commonly used.

Each candle shows 4 things: Open, High, Low, Close (OHLC).

Colors: Typically green (up) and red (down).

2. Key Concepts

Support: A price level where buyers step in (price tends to bounce up).

Resistance: A price level where sellers step in (price tends to fall).

Trend: Direction of the market — uptrend, downtrend, or sideways.

Volume: Shows the strength of a move (high volume = strong move).

3. Common Indicators

Moving Averages (MA):

Simple MA (SMA): Average of closing prices.

Exponential MA (EMA): More weight to recent prices.

Used to spot trends and crossovers (e.g., 50 EMA crossing above 200 EMA = bullish).

RSI (Relative Strength Index):

Measures overbought (>70) or oversold (<30) conditions.

MACD (Moving Average Convergence Divergence):

Shows momentum changes and trend direction.

Bollinger Bands:

Volatility indicator; prices bouncing off bands can signal reversals.

4. Chart Patterns

Bullish Patterns: Double Bottom, Cup and Handle, Ascending Triangle.

Bearish Patterns: Double Top, Head and Shoulders, Descending Triangle.

5. Risk Management

Never invest more than you can afford to lose.

Set stop-loss orders to limit downside.

Use position sizing to manage exposure.

6. Practice Before Real Money

Use paper trading platforms to practice with no risk (e.g., TradingView demo account).