FX Trading24 - The Basis of Technical Analysis

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The Basis of Technical Analysis

First Steps: Step 4 of 7

Technical analysis focuses on trend analysis and explains how basic trend-following techniques are used.

Flip through the individual charts:


1. What is a Market Trend?	8. Trend Lines II
2. Trend Types	9. Trend Lines III
3. Classifying a Trend	10. Trend Channels
4. Information About Trend Lines	11. Recognising Supports
5. Trend Analysis and Timing	12. Recognising Resistance
6. Creating a Trend Line	13. 50% Retracements
7. Trend Lines I	14. 33% and 66% Retracements

Chart 14: 33% and 66% Retracements

In addition, 33% and 66% retracements are also used.

Formula for 33% retracement = Highest price – lowest price × 0.33
Formula for 66% retracement = Highest price – lowest price × 0.66

Forex Trading in 7 Steps: