Technical analysis plays a fundamental role in the price activities of traders. This theory means that traders can determine the existing trading conditions and potential price transactions according to the previous price fluctuations. The main theoretical basis for using technical analysis is that, theoretically, all available market information is reflected through prices. If the price reflects the information like this. Then everyone will start trading.
Have you ever heard the saying, "the tendency of history is to repeat itself?" This is the basic technical analysis! If the level of price fluctuation is used as a key reference, traders should pay attention to the level of price fluctuation and make their trading fluctuate around the previous price level.
Technical analysis looks for similar patterns through the models that have been formed in the past, and will form the same trading concept as before. In the world of foreign exchange trading, when people talk about technical analysis, the first important thing is to form a table in mind. Technical analysis uses tables because tables are the easiest way to analyze historical data.
You can look for past data to help you find trends and patterns, so you can get some good trading opportunities out of it. In addition, for all traders who rely on technical analysis, these price patterns and indications are automatically realized. More and more traders are looking for fixed price levels and tabular patterns, and more likely, these models will represent their markets.
You should know that technical analysis is very objective. Just because Ralph and Joseph are looking for exactly the same tables or indicators, it doesn't mean that they will share the same views on price trends.
What matters is your understanding of technical analysis, so when people talk about Fibonacci, paulica, and pivot point, you don't feel ignorant.