Mastering the art of technical analysis in forex trading

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2. Prices move in trends: Technical analysis is a subject that assumes that prices do not move in random directions but they tend to move in trends . Candlestick Charts: Like bar charts but less dull and more understandable. They have the same OHLC data but they are differentiated by filled or hollow bodies which show bullish and bearish movements.Technical indicators are the mathematical calculations of price, volume or open interest. Some of the most popular indicators include:PREMIUM TIMES delivers fact-based journalism for Nigerians, by Nigerians — and our community of supporters, the readers who donate, make our work possible.

Moving Average Convergence Divergence : A trend-following momentum indicator that depicts the relation between two moving averages of a security’s price. Technical analysis in forex trading can be likened to an art that needs a lot of hard work, practice and continuous learning. Through the knowledge of price charts, indicators and patterns combined with their effective application you can develop your trading strategy which in turn will increase your opportunities for success. Do not forget to be careful in the way you manage your risk and stay flexible in changing market situations.

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