This analysis is useful everytime it is needed to forecast
the future prices of an underlying asset based
on the past patterns and trends.
A chart pattern that signals higher/ lower prices to come.
Prices rally to a new high/ fall to a new low while an oscillator fails to reach a new low/ peak.
A price moves for a short time above or below a resistance level, & after it comes back to the same direction when it started.
How can technical analysis help you?
If a trader wants to open a trade on a currency pair, he cannot do so and succeed without checking on the price charts. He needs to know if he should go short or long.
Informed decisions are crucial to have successful trades. Autochartist is a free online service which analyses the prices automatically and suggests the most likely winning trend.
Future price direction will help traders to determine the kind of position they would open. As accurate the prediction would be, as higher are the changes to get profits from the invested capital.
When the price keeps going up and the trader is still in the money, technical analysis has already done a good job.
There is a list of financial events, which are already programmed to happen during the year. They are made public on an economic calendar which is available anytime. These events take place each day, so take them into consideration before making your decisions.
This tool automatically finds price levels and chart patterns to define the price direction which is most likely to happen. It is available as a plug-in for MT4 and it has an 80% forecast accuracy. It will provide 400k trading signals per month.
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