The Forex resources in this area are for technical traders. To be a successful Forex trader you need to understand both fundamentals and techincals. Fundamentals are all about financial news events that can move the financial market. Forex technical analysis ignores fundamental factors and is applied only to the price action of the market. Forex technical analysis primarily consists of a variety of forex technical studies, such as forex chart patterns , fibonacci studies , forex trendlines and forex trendline analysis, each of which can be interpreted to predict market direction or to generate buy and sell signals. In technical analysis, investors and analysts study charts of specific trading patterns and prices to forecast changes in future price movement in a currency, security, commodity, or index. For a detailed description of these studies , please refer to the sections below:
IMPORTANT: Trading with any Technical Forex Trading system, you MUST know when important financial news events are due to be released and to stay out of any technical trades during these times. I don't care what technical trading system you use. News releases can kill the best technical trades if your stops aren't big enough to keep you in a trade if price spikes hard against you. In my opinion, the best news calendar to use is the Forexfactory calendar. This is a great calendar that not only shows all the news releases that are due out for the week, but rates them in importance and possible volatility. Keep this news calendar open at all times no matter what type of forex trader you are.