LONG TERM TECHNICAL ANALYSIS

 

The Chartist's Trading Plan and Forex Forecasting

Before drawing up the chartist's trading plan the dealer studies historical data for forecasting and selects a traditional or modem chart for study or a combination of both.

He must choose chart patterns of note to identify a poten­tial continuation/reversal or neutral trend with trigger level and extension target, pay special attention to moving averages and oscillators signals for an indication and confirmation of the trend, and anticipate its turns.

For in-depth analysis dealers usually use the Elliott wave count.

Generally most forex dealings are based on the dollar. And it is the movement of the dollar which is moving the financial market. The basic idea of making a profit is to buy dollars low and sell high.

 



 

 

 

 

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