Are you tired of navigating between sites and watching videos to understand technical analysis, yet still not getting it?
Here you go, my friend, in a very brief summary.
Technical analysis methods used by professionals.
1_Technical indicators. These are one of the pillars of technical analysis.
EMA,,Sri.., Vol..MACD
Learn what role each indicator plays and understand the positive signals.
2. Japanese candlesticks, you need to research and delve deeper into them and understand them better. Know the types of candles that help determine market direction.
3-Fibonacci ratios.. This is considered the most used point by professionals. Through it, they predict price corrections, strong support areas, and potential resistance areas.
4-Knowing the timeframes and reading them, knowing how to connect them, and understanding the correlation between all the frames.
In short, the larger timeframe gives us a clearer view of the market direction according to the specified period, while the smaller one interprets the slight fluctuations that occur in the larger frames.
5. Follow the economic and political news happening around the world and the major events that directly affect the market.
Because the world has become a village, and any event that occurs directly affects it.
6. Stay completely away from using emotions in all your trades, and believe me, you will win and stop losing if you maintain discipline.
Summary
The professional trader when deciding to enter a sell or buy position.
Uses the previously mentioned points and integrates them all in the direction that he sees fit.
If they are all positive, he enters a buy position while keeping his eyes open on the market and his ears on the news.
If it is negative, it enters a sell position, and in the same way, it follows the updates.
The professional does not enter if there is a contradiction in the previous points.
Only the adventurous enter, who are not affected by the loss of the amount they intend to invest and have other solutions.
I hope I have conveyed the idea.
If you want a broader explanation for any point, I can do that.
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Greetings to everyone reading and following my posts.
