Forex Technical Analysis - You must have one favourite technical indicator

Forex trading has become easy since the time technical indicators were introduced. Before that the edge was with big financial institutions who were having financial analysts to find out which direction is currency pair going to move based on fundmentals.

Such level analysis or infact the skill to do such analysis was beyond the scope of regular traders.

But technical analysis changed all that..

Now any trader (newbie or experts) has a realshot in making some profits by trading. Thats a separate thing that still 90% of traders out there get burned and lose their money in forex market.

One key that can take a trader out of the group of these 90% of traders is focusing one forex technical indicator and simply master it!!

There is more to any technical indicator than just oversold/overbought or lets say moving up or moving down.

When you start understanding beyond that, you can start anticipating how the technical indicator will behave when a particular fundamental announcement comes out or how will it react during trading sessions that don't volatility.

This kind of skill will help you not only to decide when to trade, but also on when not to trade!

For me, Forex Candlesticks is one of my faviourite indicators. Understanding it better helps me find out if the breakout signal on a forex chart is genuine or is it fake..

So, pick one technical indicator that you like and simply understand its each and every behaviour on a forex chart.

Incase you already like one particular technical indicator, please feel free to share with me what it is and if you know of some special trick regarding that indicator.

I would really like to hear from you.

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