Looking for a reliable broker for forex trading and a great platform for Forex Trading? Check out this review of IVG Capital, the go-to choice for legitimate retail traders. Learn why IVG Capital is trusted by traders for forex and crypto trading, and discover the benefits of using Match-Trader. Whether you’re a beginner or an experienced trader, IVG Capital offers a range of tools and resources to help you succeed in the trading world. Don’t miss out on this opportunity to elevate your trading experience with IVG Capital!
At the heart of IVG Capital’s offering is the Match-Trader platform, a powerful tool that sets traders on a path to success. This blog provides an overview of technical analysis on the Match-Trader and TradingView platforms.
www.ivgcapital.com
Technical Analysis Categories
You may log in to the Match-Trader Platform through the IVG Capital website or use the URL www.platform.ivgcapital.com.
Technical indicators and graphics can be accessed on the Match-Trader platform here.
Or, if you switch to the TradingView platform, you can find them here.
There are 4 main categories of technical analysis:
- Historical Indicators use data, based on mathematical formulae, from price action which has already occurred.
- Secondly, Chart Formations come in a variety of shapes and they are quite important as they graphically show us the ongoing battle between buyers and sellers in any market.
- Candlestick Patterns can provide key confirmations and clues to future price action on any time frame.
- Lastly, Fibonacci is another system used by traders in all asset classes, to predict support, resistance, retracements, and reversals.
Historical Indicators
Historical Indicators include Lagging Indicators like Moving Averages, Bollinger Bands, and so-called leading indicators like Oscillators.
Lagging indicators, such as Moving Averages look back over set time periods and plot the average prices in one or more lines.
Oscillators take this one step further and include other factors such as the closing price on the last candle in comparison with a moving average or the speed of the price change.
The premise is that traders may use historical data to predict future price action and with the markets being open 24 hours per day, there is a tremendous amount of data to analyse.
Chart Formations
Some basic chart formations include:
Support and Resistance Lines and Trend Lines which are arguably the most important graphic tools.
Double Tops and Bottoms and Head and Shoulders which we call Reversal Patterns which can clearly show when market participants have tried to push price in one direction or the other and subsequently failed.
Triangles and Pennants also come in a variety of shapes and are referred to as Continuation Patterns.
These also represent the battle between buyers and sellers but result from indecision, being displayed as compression on the charts.
Like any compression, at some point it will let go and we may take financial advantage of these situations.
Candlestick Patterns
We have single, dual and multiple Candlestick Patterns and we will look at these in a separate video.
Using candlestick patterns on their own is not the best trading method.
However, for those traders who like one more elements of confirmation before they open a position, they can be the final piece of the puzzle.
Fibonacci
Fibonacci is an incredibly popular graphic tool used by institutional and retail traders alike.
It is so popular that very often it works based on the fact that so much of the market uses it, that price action is driven by Fibonacci traders.
We will go into more detail in a separate video but the premise is that many things in life follow predictable levels, quantities and ratios.
Very often, you can backtest Fibonacci levels of support and resistance and see these key levels in the past.
Technical Analysis may be used on any time frame but over the years it has proven to be more reliable on longer time frames such as one hour, four hour and daily, etc., than the one minute or 5 minute time frames.
That’s all for now. Come back soon for more videos and reviews on IVG Capital and Match-Trader.